Hong Kong FinTech Week was certainly a productive few days for two visiting companies from Ireland, both opening doors to the Far East with newly-secured deals.
The green army descended on Hong Kong this week with no fewer than 14 Irish fintech firms showing their wares as part of the #IrishAdvantage Enterprise Ireland’s trade mission to China; representation aimed at promoting tech in payments, banking, insurtech, cloud communications and biometrics.
The two successful companies, Global Shares and Know Your Customer, appear to be leading a charge from the Irish Republic with, Daon, CurrencyFair, Solgari, Fenergo, Leveris, Fineos, Corylitics, Intuition, Priviti, Fexco, Kyckr and Circit also attending.
Global Shares are now celebrating a USD 15 million deal with online brokerage firm Huanying International, with plans to provided a range of financial services. The other successful company, smart technology client verification solution provider Know Your Customer (KYC), has partnered up with Hong Kong-based fintech company Neat Limited to enhance that company’s AML processes more effectively. Republic of Ireland Minister for Business, Enterprise and Innovation Heather Humphreys commented:
“The deals we’ve seen formalized today by Global Shares, Know Your Customer and CurrencyFair at Hong Kong Fintech Week demonstrate how much value Irish fintech companies can deliver to partners worldwide… It’s heartening to see recognition from companies the world over for the Irish fintech advantage.”
Early this year, another Irish company, Dublin-headquartered money transfer player CurrencyFair, broke into the Asian market. With an EUR 20 million investment drive, the Irish company acquired Hong Kong’s Convoy Payments, not only opening up business to Hong Kong and Asia but also to giving CurrencyFair access to existing US markets.
The recent Irish successes are not unusual, according to Enterprise Ireland CEO Julie Sinnamon, who suggested that Irish companies usually fare well in doing businesses in Hong Kong and was pleased to see these successes, adding:
“Between them, these companies have secured significant wins with some of the world’s leading financial services companies in Hong Kong such as HSBC, Standard Chartered and Bank of China as well as local Hong Kong entities such as the Securities & Futures Commission and the Hong Kong Jockey Club.”
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