Standard Chartered Bank will make more investments to develop fintech services in 2018, the bank’s chief executive in Hong Kong Mary Huen Wai-yi said. The bank had invested US$400 million in its digital banking operations globally in 2017. Huen said the amount invested last year represented almost a third of what the group spent on systems enhancements, regulatory compliance and strategy. The investment in digital banking and other fintech services represents a big portion of the bank’s total cash investment, she said. The bank’s investment in new technology and fintech services came as Hong Kong Monetary Authority had announced a range of measures to encourage local lenders to further develop technologies that allow customers to enjoy more efficient banking services via the internet or their mobile phones.
