HONG KONG, Jan. 20, 2025 /PRNewswire/ — On January 16, 2025, WeBank Technology Services held its first event in Hong Kong, marking a significant step in its global journey. The ceremony welcomed key figures from WeBank, WeBank Technology Services, local government, and international partners. During this event, multiple partnerships were established, showcasing the company’s tech capabilities and expanding its footprint around the globe.
Among the signed partnerships were collaborations with Mega Corp from Indonesia, SCBX from Thailand, Hong Leong Bank from Malaysia, and Fusion Bank from Hong KongSAR. These agreements focus on improving digital banking systems, highlighting WeBank’s global reach and innovative tech offerings to clients around the world.
Launching WeBank Technology Services is a vital part of WeBank’s strategy to tap into global digital advancements. With its strong core banking system built on Openhive, WeBank has gained international recognition and is now well-positioned to assist partners globally from its Hong Kong base. This expansion further solidifies WeBank’s status as a leader in financial technology.
“WeBank Technology Services strives to be a center for tech innovation and service in Hong Kong, contributing to the Greater Bay Area’s growth,” said Li Nanqing, President of WeBank. “We are dedicated to providing reliable digital solutions to local financial partners while supporting Chinese companies looking to go international.”
As a part of WeBank, based in Shenzhen, WeBank Technology Services plays a critical role in strengthening financial ties between Shenzhen and Hong Kong, promoting quality financial growth in the Greater Bay Area.
A Strong Commitment to Cross-Boundary Collaboration
WeBank Technology Services is actively involved in cross-regional projects, including the Shenzhen-Hong Kong Cross-Boundary Data Validation Platform. This initiative ensures secure and efficient digital solutions across various sectors like finance, education, and healthcare, enhancing digital transformation in the Greater Bay Area.
For example, the Company partnered with a local university to improve information sharing and compliance in education. It also contributed blockchain technology to the Hong Kong Monetary Authority’s Ensemble project, driving advancements in the region’s token markets.
Through collaborations with local financial institutions in Hong Kong, WeBank Technology Services has shown its technological strengths. Working with Fusion Bank, it updated their core banking systems across five key areas, significantly lowering operating costs while boosting digital services. This sets a new standard for fintech partnerships in the region.
Expanding into Global Markets with Strategic Partnerships
With strong skills in digital finance and AI technologies, WeBank Technology Services is focused on expanding its reach in the global fintech market.
From its base in Hong Kong, the Company has quickly established connections with over 20 international partners in regions like Southeast Asia and Saudi Arabia. Its proprietary technologies are now accelerating digital growth in Southeast Asia.
In Indonesia, WeBank Technology Services worked with Allo Bank to create a modern core banking system. This partnership, which utilizes AI and cloud technologies, has improved efficiency and broadened financial access.
Supporting the Overseas Expansion of Chinese Enterprises
WeBank Technology Services is dedicated to aiding Chinese businesses as they expand globally. Its technology systems are designed to enhance efficiency and flexibility in a competitive global market. These solutions will help various industries succeed amidst growing challenges.
As Chinese companies move into new markets, they often face difficulties finding reliable financial services. With WeBank Technology Services’s robust offerings, local financial institutions can better serve these companies, addressing challenges related to supply chain finance and more.
Moving Forward
WeBank Technology Services aims to make Hong Kong a global hub for digital infrastructure and growth. The Company will continue to foster the Greater Bay Area’s development while seeking new international partnerships to deliver top-notch digital solutions.
By using its skills in digital finance and advanced technologies, WeBank Technology Services is set to lead the digital shift in finance, providing smarter and more effective services to boost the global digital economy.
About WeBank Technology Services
Launched in Hong Kong in June 2024, WeBank Technology Services seeks to use its parent company’s fintech strengths to deliver superior digital finance and infrastructure solutions to a range of partners globally.
About WeBank
Established in 2014, WeBank is China’s first digital bank. It offers accessible financial services to small and medium-sized enterprises (SMEs) and the general public, adapting its services to meet their needs. WeBank was recognized as the top digital bank in Asia for 2022 and 2023, serving over 400 million retail customers and 5 million SMEs by June 2024.
WeBank emphasizes innovation, keeping a strong focus on technology. The organization maintains a high proportion of technical staff and invests significantly in research and development. It leads the industry in essential technologies like AI, blockchain, and big data.
