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Payments & FinTech Lawyer

Hong Kong’s push to usher in a new era of ‘smart banking’

Facing increased competition from FinTech initiatives elsewhere in the APAC region, the Hong Kong Monetary Authority (the ‘HKMA’) has now outlined seven initiatives that it hopes will usher in an era of ‘smart banking’ in Hong Kong. These initiatives include proposals for a Faster Payment System and the promotion of virtual banking, as John Casanova - a member of the Payments & FinTech Lawyer Editorial Board - and Gerald Lam, both of Sidley Austin LLP, discuss.

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