The current global pandemic has had a tangible impact on the way professionals come together to exchange ideas and gather insights from their peers. In a matter of weeks, in-person conferences have been swiftly replaced by online gatherings.
Over the past few weeks, at Know Your Customer we have had the opportunity to participate in a number of virtual events, contributing our insights and experiences on topics ranging from building a business in Hong Kong to the e-KYC models in use around the world.
On July 16th, Know Your Customer’s Claus Christensen explored the topic of digital onboarding and eKYC best practice for financial institutions as part of a webinar organised by the World Savings and Retail Banking Institute and the European Savings and Retail Banking Group (WSBI-ESBG) in partnership with the Asian Financial Cooperation Association. The presentation, which also covered the different e-KYC models in use around the world, was followed by an insightful discussion with Jidong Chen of ZOLOZ, The Trusted Identity Platform of Ant Financial Group, moderated by Policy Adviser Matteo Mannino of WSBI-ESBG.
Following our successful participation in the Hong Kong FinTech Week for the past 2 years, on July 23rd we also had the pleasure of taking part in their Global Roadshow virtual event, organised by FintechHK and Invest Hong Kong.
FINNOVASIA’s Hannah Richardson moderated a panel discussion on how businesses can fast-track their global growth from Hong Kong and the Greater Bay Area. Together with AMTD Group’s Calvin Choi, TymeGlobal’s Rachel Freeman and InvestHK’s Keith Moses, our CEO discussed the elements that make Hong Kong such a strategic market for FinTech and RegTech businesses looking to grow and raise funds.
Among the points raised, the panel analysed the fundamental and pioneering efforts by the Hong Kong Monetary Authority (HKMA) to promote the use of RegTech among financial institutions. Today more than ever, financial institutions are in need of digitising all their functions, including client onboarding and KYC compliance, to avoid business disruption during the pandemic. This is determining an unprecedented acceleration in regulators’ acceptance and promotion of RegTech solutions in 2020, but the HKMA had embarked on this journey many months in advance. Financial regulators’ changing approach to RegTech adoption in light of the need for fast digitisation during the pandemic is also one of the topics explored in our recently released white paper.
Finally, on August 4th and 5th, we exhibited at the Virtual Fintech Fair 2020. An interactive online event, the Virtual Fintech Fair brought together financial services professionals, innovators, thought leaders, Fintech organisations and investors from all over the world for two days filled with inspiring talks and networking opportunities.
All these events are great examples of how the global RegTech and FinTech sectors are quickly adapting to the new normal in 2020. As audiences grow more accustomed to the new formats, the number of online events and virtual networking opportunities continues to grow by the day. By moving online, these events are now bringing together professionals and experts from every corner of the world, building connections and facilitating business partnerships beyond borders even more than before.