“In Asia-Pacific, we have seen an ecosystem of fintech companies emerge that are focusing on the applicability of technology like blockchain, artificial intelligence and biometrics has emerged with the aim of working with conventional financial institutions, rather than replacing them,” Chris Foye, manager of financial crime compliance at LexisNexis Risk Solutions, said in the paper. Fintech firms in Europe are working with established banks and financial institutions to implement technologies such as Singapore , artificial intelligence and biometrics, according to a report by IDC Financial Insights . In Hong Kong , Australia and Hong Kong the active development of tech "sandboxes" has been allowing financial firms to test technology without violating regulations. The dynamic contrasts with the way fintech firms in Europe position themselves as challengers to incumbent institutions.
Fintech firms in Europe are working with established banks and financial institutions to implement technologies such as Singapore , artificial intelligence and biometrics, according to a report by IDC Financial Insights . In Hong Kong , Australia and Hong Kong the active development of tech "sandboxes" has been allowing financial firms to test technology without violating regulations. The dynamic contrasts with the way fintech firms in Europe position themselves as challengers to incumbent institutions.