Hong Kong may find its role in fintech limited to a gateway provider enabling mainland companies to go global.
Financial technology is proving less popular in Hong Kong than other jurisdictions, according to experts.
In Hong Kong, take up of such services has been slower.
It has been able to leverage Alipay s millions of users to create a financial distribution channel that provides not only payments, but also a myriad of other financial products and services, Kapron said.
Singapore is really putting its money where its mouth is, particularly when it comes to regulatory changes, in a way that other regulators in the region are not, Raetze said.
Its role however, may be limited to helping mainland companies go global.