As technology has rapidly evolved over the last ten years, the earliest adopter of fintech was naturally the financial services industry. Interestingly enough, Arslanian believes the even greater threat comes not from the loss of jobs but directly from the large technology companies themselves. Hong Kong as a leading global fintech hubHong Kong’s strength as a global financial hub is obvious. Anticipating this opportunity, a number of organizations and events focusing on fintech have popped up locally including FinTech Hong Kong, Accenture's FinTech Innovation Lab and Next Money’s fintech finals startup competition (Asia’s largest). Finally, the Hong Kong Monetary Authority (HKMA) has also establish a Fintech Facilitation Office in anticipation of the rapid evolution of fintech in the city.

Source: Forbes May 26, 2017 05:26 UTC