Global investment in fintech ventures tripled over the past year, from US$4.05 billion in 2013 to US$12.2 billion in 2014. During the same period, investments in Asia-Pacific fintech ventures have also more than tripled, from US$245 million in 2013 to US$767 million in 2014.

“Participating in the Lab in 2014 enabled us to have high-level conversations with C-suite executives at multinational banks and helped us crystalize our business plan for providing advanced technology for small business lending,” said Thomas J. DeLuca, chief executive officer of AMP Credit Technologies (AMP). “Since ‘graduating’ from the program, we have attracted additional investors and expanded beyond Hong Kong, Singapore and the Philippines, recently entering the U.K. market.”

“We were impressed by the level of entrepreneurship in last year’s FinTech Lab and look forward to continuing our support of this initiative,” said Simon Lucocq, head of Asia-Pacific Technology & Operations at Bank of America Merrill Lynch. “Innovation has and will continue to be crucial in driving better outcomes in the financial services industry, and so it is important for us to foster an environment where the best ideas can be developed into market-ready solutions.”

“Our customers in Greater China are very digitally savvy, so we are pleased to be leading the way in fintech innovation by once again sponsoring the FinTech Innovation Lab Asia-Pacific,” said Arthur Wong, head of information technology at China Construction Bank (Asia). “The innovators in finance will be the ones best positioned to offer customers solutions they want, which is why we are committed to fostering fintech and bringing added values to our clients.”

“Mainland China has leapfrogged the rest of the world with its adoption of digital innovations,” said Michael Leung, chief information & operations officer, China CITIC Bank International. “Some of the solutions that are available today were purely science fiction a decade ago.  This is why we are eager to support fintech’s development in Hong Kong.”

“CommBank is very excited about taking a leadership role in the fintech space in Asia,” said Andrew Farmer, chief information officer of international financial services of the Commonwealth Bank of Australia in Hong Kong. “Fintech is unquestionably going to play a big role in disrupting the industry, and we are keen to help support entrepreneurs who are thinking dynamically about ways to challenge the status quo.”
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