iFeng Tech, 6/06/18
Chinese internet conglomerate Tencent (0700.HK) announced the formation of the Tencent Financial Academy (Hong Kong) and Guangdong-Hong Kong-Macau Greater Bay Area Fintech Lab at a forum cohosted by Tencent and the HK Science and Technology Park.
Tencent's Hong Kong-based finance academy will provide training, competitions, and internships for University of Hong Kong students. The institute will partner in the future with its Shenzhen-based counterpart.
The fintech lab will work with various institutes of higher learning and science & technology to conduct research into financial technology. Innovative applications, such as virtual banking, smart banking, and blockchain, will be located at the lab.
Tencent is currently using the Hong Kong localized version of its mobile wallet services in its mobile messaging app WeChat to implement new scenarios and expand its business. For example, Tencent has launched "We Remit," a cross-border remittance service within WeChat Wallet (HK), specifically to address remittance problems faced by Filipino workers in Hong Kong.
Tencent is also working on an e-pass for users in the region to clear customs with a QR code to solve the problems faced by Macau, Hong Kong, and mainland residents when conducting cross-border business and lacking online ID verification.