On December 4th, the Shenzhen FinTech Association and Shenzhen Fintech Overseas Alliance held a closed door FinTech Matchmaking Conference for FinTech companies going global. The event aims to actively respond to the national “Go global” strategy in the context of global economic integration, build a cooperation bridge between FinTech companies in the Greater Bay Area and the international market, and help FinTech companies go global. The agenda of this event includes the chief editor and senior researcher of “Asian Financiers” sharing the current development of banks in Asia and other regions, three law firms sharing laws, regulations, and practices in overseas markets, and dozens of FinTech companies introducing their own plans and considerations for going global.
HSG, as a representative of
overseas enterprises, was specially invited to attend the conference. Vice
President Liu Renzo gave a keynote speech on “Enterprise going
global” at the conference, and Ma Liang, the Marketing Director for the
Middle East and Africa, also attended the meeting.
Liu Renzo quoted a quote from representatives of the Two Sessions, “If you don’t go global, you’re out of the game,” to start sharing the process and experience of HSG’s overseas expansion. He stated that although this sentence may have different interpretations from different perspectives, the global development of Chinese enterprises is already a consensus among everyone. The Chinese market for the FinTech industry is already very saturated, and the global market is even larger. There are still billions of people worldwide who do not have bank accounts or have insufficient bank accounts. A survey report on CEOs of Chinese FinTech companies shows that by 2023, 52% of companies have already gone global or are preparing to go global, which has won the recognition and resonance of the attendees.
HSG, as a company deeply rooted in the field of financial technology for 27 years, launched a comprehensive strategic overseas expansion in 2020, focusing on overseas markets and providing banks with overall IT solutions and digital transformation services, including core banking, online banking, wallet, payment and other financial solutions. According to The Uppsala Model, HSG’s entire overseas strategy has basically entered the final fourth stage. The first stage dates back to 2000, when it provided the core banking system for local banks in Hong Kong. Before 2020, HSG’s products and solutions in Hong Kong and Macao were in a leading position, and during this period, it accompanied the development of China’s banking industry’s overseas business, supporting bank customers to provide financial products and solutions to more than 20 countries and regions around the world. With the rapid development overseas in recent years, we are now in the fourth stage, successfully expanding more than 50 overseas projects and establishing local sales networks and delivery teams in countries and regions such as Malaysia, Thailand, Laos, Cambodia, Myanmar, etc., to support local market expansion and project delivery, and improve overall overseas operational capabilities and service quality. At the same time, the overseas strategy is also based on factors such as geopolitics and psychological distance, taking hold in Hong Kong and Macao, with a focus on developing Southeast Asia, and extending to the Middle East and Africa by 2025 to further seek overseas growth opportunities.
HSG, as the first local
enterprise in China to have independent intellectual property rights for its
core banking system, experienced the era of “Bring in” and survived
in the competition dominated by European and American companies at that time.
Today, with the mission of becoming a high-value FinTech partner for customers,
we actively “Go global” and are committed to promoting innovation and
development in FinTech globally, enhancing its leading position in the
international market.
