Asia’s first Virtual FinTech Fair to bring financial institutions together in August

By Priyanka Pani

The pandemic caused by novel Coronavirus has changed the way how businesses function. From remote-working to virtual meetings, businesses are going online and so are the large global conferences. In a first-of-its-kind virtual FinTech event, Asia’s Premier Virtual FinTech Fair (VFF2020) is all set to bring together companies across the Asian BFSI and FinTech ecosystem.

The event scheduled from August 4-5, 2020, will host discussions by eminent industry stakeholders on the next stage of growth for financial institutions and the role FinTech will play in the post-pandemic world. This is the first time a FinTech event is being hosted virtually in order to digitally create growth and networking opportunities for FinTech players and its stakeholders.

VVF2020 is being hosted by FinStep Asia and is supported by the government body Invest Hong Kong. Over 20 FinTech ecosystems including those of Hong Kong, Singapore, Japan, Malaysia, the Middle East, and North Africa (MENA), Sri Lanka are also supporting the virtual fair.

The event will facilitate discussions on the domains of AI and Big Data, Digital Banking, Blockchain, Cyber Security, Payments, InsurTech, RegTech, and WealthTech. Over 16 virtual sessions, covering topics such as the impact of a pandemic on the financial world and FinTechs, growing role of virtual banking in Asian markets, Open Banking, the growing influence of TechFin, and investor focus in FinTech among others, will be discussed during the two-day event. Over 3,000 delegates and over 50 key global speakers on the subject are expected to attend the event.

Musheer Ahmed, Managing Director of FinStep Asia, said, “Many governments across the region have made FinTech a central part of their economic growth plans, but the impact of the ongoing pandemic on financial markets has restricted firms’ ability to grow their businesses. With the importance of FinTech to economies and communities undiminished, the Virtual FinTech Fair will help reunite the ecosystem and re-ignite the evolution of the financial services industry.”

As an industry that relies on an interconnected ecosystem, FinTech has been hit particularly hard by COVID-19, restricting firms’ ability to find partners, raise capital and sell products.  This risks seriously undermining Asia’s attempts to become a global innovation powerhouse and has delayed many projects that have huge potential to improve access to financial services.

King Leung, Head of FinTech at Invest Hong Kong, said, “As a proven FinTech launchpad and its resilience and relatively quick resumption of business activities in post-COVID, Hong Kong hopes to connect APAC’s FinTech businesses timely with the huge opportunities in India, Greater China, ASEAN and the rest of the world. We’re proud to support the Virtual FinTech Fair, which is an opportunity to connect the brightest minds in the APAC FinTech community and propel the transformation of the financial services industry.”