BIS study comes up short on Hong Kong
A table in the new BIS study says Hong Kong has only one fintech credit company.
Hong Kong has only one alternative lender and that lender has 100 percent market share, according to the Bank for International Settlements new fintech credit report.
A table hidden in the middle of the report details the number of platforms home to each country and how much market share the largest players have. China has 356 platforms, the United States has 67, and Singapore has 14.
But Hong Kong has only one platform which has 100 percent marketshare, the table indicates.
The finding comes a fortnight after Hong Kong’s influential government advisor, the Financial Services Development Council, published a report claims the country is falling behind on fintech.