A few years ago, the financial market in Hong Kong was not as favourable as it is today. Thanks to the inflow of money and upcoming of several financial products in the country, Hong Kong is again leaving a significant mark on the world map. Hong Kong has recently been recognised as a country filled with opportunities for growth, and as a result, people have been trying to bank on this fact. One of such sectors of growth has been finance and therefore we have compiled a list of some popular financial services companies Hong Kong has.
1) Hongkong and Shanghai Banking Corporation (HSBC)
Hongkong and Shanghai Banking Corporation or as the people call it HSBC is the country’s richest bank. It has been topping several lists for many years now and seeing the growth trend it has been following; it will continue to dominate the financial market in Hong Kong for years to come. Recently, the bank gained a lot in a trade deal which involved shares of Global Payments AsiaPacific Limited which made HSBC a lucrative investment opportunity worldwide. Bank also provides and earns a lot from its general insurance business.
Bank of China Hong Kong is the second largest bank in Hong Kong. It is the amalgamation of 10 banks that earlier belonged to Bank of China in Hong Kong. Now, it is a separate bank and operated independently overtaking the operations of all 10 banks. It has a wide array of services which range from general insurance to wealth management. Also, the client base of the bank includes everyone right from a small farmer to the big corporate houses. Thanks to the lucrative financial schemes that bank offers, it is one of the most popular financial services in the country.
3) 8 Securities
In simplest terms, 8 Securities is an online security brokerage service which serves Hong Kong and many other nations of Asia. It is also known for its zero-commission mobile stock trading platform which happens to be Asia’s first as well. The app lets the users trade Hong Kong, Chinese and US-based shares and exchange trade funds for free. It also has an automated advisor service named Chloe which helps the user manage their funds and savings efficiently.
If you are looking for a single platform where you can manage, explore and customise all your stocks, bonds and other asset portfolios, Quantifeed is for you. It is a digital investment solution that can help the individual as well company owners to manage their funds and assets efficiently with an option to integrate it into their back offices system. Since this a highly customizable and configurable system, you can do all kinds of management from within the software itself.
It is an innovative and creative online platform that provides a broad range of wealth management, asset allocation and product structuring tools. It manages all this by automatically managing and executing security trades across the markets of the world under various asset classes. Prive Financial is on the road to growth and has already opened its offices in Singapore, Taiwan, Korea and many countries in Europe.
6) BrokerFabrik (by FinFabrik)
It is a tech company that deals in several finance-related tools and software. It primarily targets the wealth management niche and has created an ultimate product for the same. BrokerFabrik, its flagship product which is used by brokers to run their entire business without the need of any other software. Any company that is willing to introduce trading capabilities to its clients can integrate BrokerFabrik into their system and provide a robust and feature-rich trading platform on the desktop as well as mobile.
Founded in 1933, it is one of the oldest financial institutions in the country. It deals in an array of products. Few of them are retail banking, wealth management, commercial banking and private banking. It has a rich user base who can do transactions at 260 different locations throughout the world. An important thing to note here is that Hang Seng Bank is a member of HSBC principal group which is country’s biggest commercial bank.
The Bank of East Asia primarily focuses on the corporate banking sector. Although it has personal banking too but its vast user base is mostly focused on wealth management and investment services. It is functional in Hong Kong, mainland China and many other parts of Asia and Europe. Amazingly, BEA is Hong Kong’s largest independent local bank with assets of more than HK$700 billion.
It is an advanced technology that is intelligent enough to recognise and crack the patterns in the financial markets. This data can then be used to take efficient financial investment decisions. Aidyia is based on a technology that learns and mimics the depth and understanding of a human brain.
10) Industrial and Commercial Bank of China
ICBC is Hong Kong’s leading wealth management institution. With over 75 centres that cater to different needs of clients, ICBC’s approach to banking and investment is commendable. Apart from specialised financial aid services, it actively provides personal banking service, pension schemes, private banking, personal loans and consumer credit finances. It has some of the most lucrative offers in Hong Kong right now and is on a path of constant growth.