Amazon and Google Launch New Multicloud Networking Service to Boost High-Speed Cloud Connectivity 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
Banks Consider $38 Billion Funding Boost for Oracle, Vantage, and OpenAI Expansion 
Wall Street Analysts Weigh in on Latest NFP Data 
Vietnam’s Growing Use of Chinese 5G Technology Raises Western Concerns 
ByteDance Unveils New AI Voice Assistant for ZTE Smartphones 
OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
Anthropic Reportedly Taps Wilson Sonsini as It Prepares for a Potential 2026 IPO 
China's Refining Industry Faces Major Shakeup Amid Challenges 
2025 Market Outlook: Key January Events to Watch 
Coupang Apologizes After Massive Data Breach Affecting 33.7 Million Users 
Samsung Launches Galaxy Z TriFold to Elevate Its Position in the Foldable Smartphone Market 
Morgan Stanley Boosts Nvidia and Broadcom Targets as AI Demand Surges 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
Urban studies: Doing research when every city is different 
Baidu Cuts Jobs as AI Competition and Ad Revenue Slump Intensify 
Hong Kong has emerged as the leader in fintech adoption, according to Ernst & Young FinTech Adoption Index.
The survey was conducted over 10,000 digitally active people in Australia, Canada, Hong Kong, Singapore, the UK and the US. The survey found that Hong Kong has the highest rate of FinTech use of all markets surveyed (29.1%). The US has the second-highest adoption rate (16.5%), followed by Singapore (14.7%), the UK (14.3%), Australia (13%) and Canada (8.2%).
EY said that early FinTech adopters tend to be younger, higher-income customers, with adoption concentrated in high-development urban areas such as New York, Hong Kong and London.
“Our survey shows that 15.5% of digitally active consumers have used at least two FinTech products within the last six months. As awareness of the available products and services increases, adoption rates could double within the year”, the report said.
According to the survey, the most-used FinTech services include money transfers/payments (goods and services, transfer money between accounts and send it overseas) -17.6%; followed by savings and investment products (such as online stockbroking/spreadbetting, online budgeting/planning, online investments, equity and rewards crowdfunding and peer-to-peer or marketplace lending) – 16.7%; Insurance - 7.7% and Borrowing - 5.6%.
Coming to the obstacles for fintech adoption, the report said that the lack of awareness is the major impediment. Quite surprisingly, trust has not been a major obstacle – only 11.2% of respondents said they don’t trust FinTech products.
FinTech, as the name suggests, refers to any kind of technology relating to the financial sector, ItProPortal explains. While earlier it was limited to PCs and software used by financial companies and institutions, FinTech has become a very broad term with the rapid adoption of the Internet, smartphones and mobile applications. Mobile payments system, cryptocurrencies, crowdsourcing, and even social media platforms have taken the fintech revolution to the next level.
