Fintech
Lendified Holdings Inc. Completes Qualifying Transaction and Provides Corporate Update
Toronto, Ontario–(Newsfile Corp. – April 30, 2020) – Lendified Holdings Inc. (the “Company” or the “Resulting Issuer“), formerly known as Hampton Bay Capital Inc. (“Hampton Bay“), is pleased to announce the completion of its qualifying transaction (the “Qualifying Transaction“).
Trading in the common shares of Hampton Bay was previously halted on December 24, 2019 at the request of Hampton Bay upon announcement of the Qualifying Transaction. Trading in the common shares of the Company (the “Resulting Issuer Shares“) will commence on the TSX Venture Exchange (the “TSXV“) under the symbol “LHI” following the issuance by the TSXV of its final bulletin in respect of the Qualifying Transaction.
The Qualifying Transaction was effected by way of a three-cornered amalgamation among Hampton Bay, Lendified Holdings Inc. (“Lendified“) and 11867407 Canada Inc. (“Subco“), a wholly-owned subsidiary of Hampton Bay, pursuant to which Lendified amalgamated with Subco to form an amalgamated entity called Lendified Privco Holding Corporation. Immediately prior to the closing of the Qualifying Transaction, Hampton Bay consolidated its shares on a 1.88-for-one basis (the “Consolidation“) resulting in 8,414,629 post-Consolidation Hampton Bay shares and changed its name to “Lendified Holdings Inc.”. All outstanding stock options and warrants of Hampton Bay, on a post-Consolidation basis, remain in effect on substantially the same terms and in accordance with the policies of the TSXV.
The Company Announces Closing of Concurrent Financing of Lendified
In connection with the Qualifying Transaction, on April 8, 2020 Lendified completed its previously announced private placement of 12,000,000 subscription receipts (each, a “Subscription Receipt“) at a price of $0.25 per Subscription Receipt for total gross proceeds of $3,000,000 (the “Concurrent Financing“). Haywood Securities Inc., an Arm’s Length party to Lendified, acted as agent in connection with the Concurrent Financing.
Each Subscription Receipt entitled the holder thereof, without payment of additional consideration or further action, to receive one (1) unit of Lendified (each a “Unit“) upon completion of the Qualifying Transaction, with each Unit being comprised of one (1) common share in the capital of Lendified (each, an “Underlying Share“) and one-half of one common share purchase warrant (each whole common share purchase warrant, an “Underlying Warrant“). Each Underlying Warrant entitled the holder thereof to acquire one common share in the capital of Lendified (each, a “Warrant Share“) at a price of $0.38 per share for a period of twenty-four (24) months following the closing of the Concurrent Financing. Each Underlying Share and Underlying Warrant has been exchanged for common shares and warrants (having the same economic terms as the Underlying Warrants) of the Resulting Issuer on a one for one basis pursuant to the Qualifying Transaction.
Under the Concurrent Financing, Lendified issued an aggregate of 207,000 shares to certain brokers in satisfaction of a corporate finance fee and commission (“Broker Shares“) and an aggregate of 867,249 compensation options to purchase Lendified shares at an exercise price of $0.25 for a period of twenty-four (24) months from closing (“Compensation Options“). In addition, Lendified paid aggregate cash commissions in the amount of $12,871.04. Each of the Broker Shares and Compensation Options has been exchanged for Resulting Issuer Shares and compensation options (having substantially the same economic terms as the Compensation Options) of the Resulting Issuer (“Resulting Issuer Compensation Options“), respectively, on a one for one basis pursuant to the Qualifying Transaction. Certain insiders of Lendified subscribed for an aggregate of 20,000 Subscription Receipts for aggregate gross proceeds of $5,000.00 under the Concurrent Financing.
In connection with the Qualifying Transaction, shareholders of Lendified received one Resulting Issuer Share for every share of Lendified held, and now hold an aggregate of 83,666,294 post-Consolidation Resulting Issuer Shares (inclusive of subscribers in the Concurrent Financing). In addition, all existing warrants of Lendified were exchanged for similar securities of the Resulting Issuer following completion of the Qualifying Transaction on a one-for-one basis (post-Consolidation) on substantially similar terms and conditions. In connection with the Qualifying Transaction and immediately prior to completion of the Qualifying Transaction, Lendified converted a portion of its outstanding convertible debt into shares (the “Lendified Debt Conversion“). The remaining convertible debt of Lendified, which did not convert pursuant to the Lendified Debt Conversion, will be convertible into Resulting Issuer Shares pursuant to a support agreement among the respective lender, the Resulting Issuer and Lendified. Immediately prior to the completion of the Qualifying Transaction, all existing options and restricted share units of Lendified were cancelled.
The Qualifying Transaction constitutes a reverse take-over, as the former shareholders of Lendified now own (on a non-diluted basis) approximately 87.93% of the outstanding Resulting Issuer Shares immediately after the closing of the Qualifying Transaction (inclusive of subscribers in the Concurrent Financing). The board of directors of the Resulting Issuer consists of six directors comprised of the following persons: Troy Wright, Kevin Clark, Perry Dellelce, Edward (Ted) Kelterborn, Benjy Katchen and Jeremy Edelman. In addition, Troy Wright will serve as Chief Executive Officer and Corporate Secretary, Kevin Clark will serve as President, and Norman Tan will serve as Chief Financial Officer of the Company.
In connection with the Qualifying Transaction, the Company also issued the following securities: an aggregate of 207,000 Resulting Issuer Shares in replacement of the Broker Shares issued in connection with the Concurrent Financing; an aggregate of 867,249 Resulting Issuer Compensation Options to purchase Resulting Issuer Shares at an exercise price of $0.25 per share for a period of twenty four (24) months from closing of the Qualifying Transaction, issued in replacement of the Compensation Options issued in connection with the Concurrent Financing, and 2,866,652 Resulting Issuer Shares issued in satisfaction of a finder’s fee.
After giving effect to the Qualifying Transaction and Concurrent Financing, there are 95,154,575 Resulting Issuer Shares issued and outstanding (on a non-diluted basis). In addition, there are an aggregate of 841,463 options to purchase Resulting Issuer Shares, 17,960,364 warrants to purchase Resulting Issuer Shares, 330,824 broker warrants to purchase Resulting Issuer Shares, 867,249 Resulting Issuer Compensation Options and debt convertible into 17,142,856 Resulting Issuer Shares.
Further details of the Qualifying Transaction are contained in news releases of Hampton Bay dated December 24, 2019, January 20, 2020 and April 2, 2020. Readers are also referred to the filing statement of Hampton Bay dated March 30, 2020 (the “Filing Statement“) which was prepared in accordance with the requirements of the TSXV and filed under the Company’s issuer profile on SEDAR at www.sedar.com.
Advisors
Wildeboer Dellelce LLP acted as legal counsel to Lendified. Dunton Rainville, LLP acted as legal counsel to Hampton Bay. Fogler, Rubinoff LLP acted as legal counsel to Haywood Securities Inc.
Early Warning Disclosure Pursuant to National Instrument 62-103
In connection with the Qualifying Transaction, each of Gesmex Corporation and Placements AMMC Inc., GSSB Corporation (an entity beneficially owned and controlled by Mr. Glenn Murphy) and Home Capital Group Inc. (a reporting issuer) acquired ownership, control or direction over Resulting Issuer Shares requiring disclosure pursuant to the early warning requirements of applicable securities laws. Immediately prior to completion of the Qualifying Transaction, none of Gesmex Corporation, Placements AMMC Inc., GSSB Corporation and Home Capital Group Inc. had ownership of, or exercised control or direction over, any voting or equity securities of the Company.
Gesmex Corporation acquired ownership of 16,708,287 Resulting Issuer Shares representing approximately 17.56% of the outstanding Resulting Issuer Shares on a non-diluted basis and 684,905 warrants of the Resulting Issuer to acquire Resulting Issuer Shares (the “Gesmex Warrants“). Assuming the exercise in full of the Gesmex Warrants, Gesmex will hold 17,393,192 Resulting Issuer Shares representing 18.15% of the then issued and outstanding Resulting Issuer Shares on a partially diluted basis.
Placements AMMC Inc. acquired ownership of 12,161,621 Resulting Issuer Shares representing approximately 12.78% of the outstanding Resulting Issuer Shares on a non-diluted basis and a secured convertible loan (the “AMMC Convertible Loan“) in the principal amount of $4,000,000 convertible into 11,428,571 Resulting Issuer Shares with interest under such AMMC Convertible Loan being convertible in the at the option of Placements AMMC Inc. at a price equal to the greater of (i) the five day volume weighted average price on the TSXV of the Resulting Issuer Shares on the date prior to the date the accrued interest becomes payable and (ii) the minimum conversion price permitted by the policies of the TSXV. Assuming full conversion of the AMMC Convertible Loan (excluding conversion of any interest), Placements AMMC Inc. will hold 23,590,192 Resulting Issuer Shares representing 22.13% of the then issued and outstanding Resulting Issuer Shares on a partially diluted basis. GSSB Corporation acquired ownership of 11,408,071 Resulting Issuer Shares representing approximately 11.99% of the outstanding Resulting Issuer Shares on a non-diluted basis.
Home Capital Group Inc. acquired ownership of 9,632,536 Resulting Issuer Shares representing approximately 10.12% of the outstanding Resulting Issuer Shares on a non-diluted basis.
The Company understands that each of Gesmex Corporation, Placements AMMC Inc., GSSB Corporation and Home Capital Group Inc. acquired the aforementioned securities for investment purposes and may, from time to time and depending on market and other conditions and subject to the requirements of applicable securities laws, acquire additional Resulting Issuer Shares through market transactions, private agreements, treasury issuances, dividend reinvestment programs, exercise of options, convertible securities or otherwise (if and when granted), or may, subject to the requirements of applicable securities laws, sell all or some portion of the Resulting Issuer Shares they own or control (upon release of the securities from escrow, or otherwise in accordance with the terms of the escrow restrictions), or may continue to hold the Resulting Issuer Shares.
Gesmex Corporation and Placements AMMC Inc. will have the right to nominate up to two (2) directors to the board of the Resulting Issuer following completion of the Qualifying Transaction.
This portion of this news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning reports will be filed by Gesmex Corporation, Placements AMMC Inc., GSSB Corporation and Home Capital Group Inc. in accordance with applicable securities laws and will be available on the Company’s issuer profile on SEDAR at www.sedar.com.
The head office of Gesmex Corporation and Placements AMMC Inc. is located at 4085 Boulevard Corbusier, Laval, Quebec H7L 5E2 and Gesmex Corporation and Placements AMMC Inc. can be contacted at 450-736-7369, attention Melina Rizzuto, to obtain a copy of its early warning report. The Company’s head office is located at 372 Bay Street, 20th Floor, Toronto, Ontario M5H 2W9.
Company to Rely on Extension of Time for Filing of Annual Financial Statements and MD&A
The Company has postponed filing Lendified’s annual financial statements and management’s discussion and analysis for the year ended December 31, 2019, due to logistics and delays caused by the COVID-19 pandemic.
In response to the coronavirus pandemic, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings. The Company is relying on the exemption provided in Ontario Instrument 51-502 of the Ontario Securities Commission (and similar exemptions provided by other Canadian Securities Regulators) in respect of the following requirements:
- the requirement to file Lendified’s audited annual financial statements for the year ended December 31, 2019 (the “Financial Statements“) within 120 days of its financial year end as required by National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102“);
- the requirement to file Lendified’s management’s discussion and analysis (the “MD&A“) for the period covered by the Financial Statements within 120 days of its financial year end as required by NI 51-102;
- the requirement to file certifications of the Financial Statements (the “Certificates” and together with the Financial Statements and the MD&A, the “Annual Filings“) pursuant to National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings; and
- the date by which the Company must deliver the foregoing Annual Filings, and an annual request form, as required pursuant to sections 4.6 and 5.6 of NI 51-102.
The Company expects to complete the Annual Filings within 45 days. Until such time as the Annual Filings are filed, the Company’s management and other insiders are subject to a trading blackout that reflects the principles contained in section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The Company confirms there have been no material business developments other than as disclosed herein and in the Filing Statement.
ON BEHALF OF THE BOARD OF DIRECTORS OF
LENDIFIED HOLDINGS INC.
“Troy Wright”
Troy Wright, Chief Executive Officer and Director
[email protected]
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements including, but not limited to, statements about the Company’s strategies, expectations, planned operations or future actions; the listing of the Resulting Issuer Shares on the TSXV; statements about the duration and effects of COVID- 19, the completion and filing of the Annual Filings; and statements with respect to future intentions of Gesmex Corporation, Placements AMMC Inc., GSSB Corporation and Home Capital Group Inc. Often, but not always, these Forward-looking Statements can be identified by the use of words such as “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “containing”, “remaining”, “to be”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, among others, the worldwide economic and social impact of COVID-19; the duration and extent of COVID-19 and any other pandemics on the Company’s workforce, business, operations and financial condition; the risks relating to a global pandemic, which unless contained could cause a slowdown in global economic growth and impact the Company’s business, operations, financial condition and share price; changes in general economic conditions and financial markets; the duration of government restrictions on business related to COVID-19; predictions about the Company’s future earnings, revenues, margins, expenses or other financial matters; the Company’s forecasts of its financial condition, results of operations, liquidity position, or working capital requirements; risks related to the global financial and economic conditions; Lendified’s relatively limited operating history, history of losses, negative operating cash flows and significant debt levels, development and operational risks, including the ability to continue to source small business loans required to scale its business plan; regulatory changes or actions may alter or prohibit the Resulting Issuer’s lending business; the Resulting Issuer’s operations and profitability may be adversely affected by competition from other small business lenders or software as a service providers; as well as those factors discussed under “Risk Factors” in the Filing Statement. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Forward-looking statements contained herein are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking statements, whether as a result of new information, future events or results or otherwise, except where required by law. There can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55234
The 18th Asian Financial Forum (AFF) 2025, co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), opened today at the Hong Kong Convention and Exhibition Centre (HKCEC). Themed “Powering the Next Growth Engine”, the two-day forum has attracted over 130 global business leaders, policymakers, financial and wealth management experts, entrepreneurs, tech giants and economists as speakers. About 3,600 financial and business elites from over 50 countries and regions are expected to gather and explore how to ignite new engines for growth in 2025 and navigate the challenges ahead.
The forum kicked off with opening remarks by John Lee, Chief Executive of the HKSAR, followed by addresses from Zhou Ji, Executive Vice Director of the Hong Kong and Macao Affairs Office of the State Council of the People’s Republic of China; Dr Pan Gongsheng, Governor of the People’s Bank of China; and Liu Zhenmin, Special Envoy for Climate Change of the People’s Republic of China.
Welcome remarks were delivered by Dr Peter KN Lam, Chairman of the HKTDC, who said: “Future growth will be different to that of the past, as traditional growth models face resource constraints and environmental pressures. Innovations, such as AI, renewable energy, fintech developments and healthcare discoveries, have the potential to power economic growth and enrich human development for decades to come. It is timely that the theme of this year’s Asian Financial Forum, ‘Powering the Next Growth Engine’, addresses these very questions from the perspective of finance and its impacts on broader business communities. The forum will discuss how the finance industry and corporates can support the next generation of innovative businesses and industries to help them unleash their potential and drive global growth in the years ahead.”
The two-day forum presents over 40 sessions ranging from Plenary Sessions, Policy Dialogue, Keynote Luncheons and Breakfast Panel, Fireside Chats, and thematic workshops. Topics included global economic outlook, China opportunities, new markets opportunities, investment outlook, artificial intelligence (AI), fintech, sustainability, philanthropy, and more, giving participants a deeper understanding of future opportunities and insights into global economic development.
Discussion session gathers international experts to address global challenges
This year’s forum is dedicated to driving new thinking, strengthening international cooperation and trust, and addressing the global economic landscape in a challenging environment. Plenary Session I – Innovation: The Solution to Unlock the Next Growth Engines, hosted by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, brought together finance officials and multilateral organisation leaders to examine financial policies in 2025. Guest speakers included Adylbek Kasymaliev, Chairman of the Cabinet of Ministers – Head of the Presidential Administration of Kyrgyz Republic; Muhammad Aurangzeb, Federal Minister of Finance and Revenue of Pakistan; Gilles Roth, Minister of Finance of Luxembourg; and Yoshiki Takeuchi, Deputy Secretary-General, Organisation for Economic Co-operation and Development (OECD).
Plenary Session II – Collaboration: The Road to Growth and Prosperity focused on international cooperation and was also moderated by Christopher Hui. The panel speakers included Roberta Casali, Vice-President of Finance and Risk Management of the Asian Development Bank; Jin Liqun, President and Chair of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB); and Satvinder Singh, Deputy Secretary-General for ASEAN Economic Community of the Association of Southeast Asian Nations (ASEAN). They explored ways to rebuild trust and deepen partnerships amid global challenges to achieve shared growth and common prosperity.
A Policy Dialogue session, Accelerating Growth through Innovation, was moderated by Eddie Yue, Chief Executive of the Hong Kong Monetary Authority. Speakers included Bayardavaa Bayarsaikhan, Director General of the Monetary Policy Department of the Bank of Mongolia; Philip Lane, Chief Economist and Member of Executive Board of the European Central Bank; Rogelio V. Quevedo, Commissioner of Securities and Exchange Commission of the Philippines; and Dr Olli Rehn, Governor of the Bank of Finland. They exchanged valuable insights on issues such as global monetary policy trends and the impact of geopolitical factors on markets, helping businesses and organisations better navigate uncertainty and explore new opportunities for collaboration and growth.
High calibre economists discuss economic growth strategies at today’s Keynote Luncheon
Paul Chan, Financial Secretary of the HKSAR Government, gave his welcome remarks at today’s Keynote Luncheon. Prof Justin Lin Yifu, Chief Economist and Senior Vice President of the World Bank (2008-2012), delivered a keynote speech that addressed strategies for achieving stable economic growth. A dialogue session was moderated by Prof Richard Wong, Philip Wong Kennedy Wong Professor in Political Economy and Provost and Deputy Vice-Chancellor of the University of Hong Kong.
Exploring the global outlook, opportunities in China and avenues for cooperation
One of the highlights of the afternoon session, the Global Economic Outlook discussion, was kicked off by Liu Haoling, Vice Chairman and President and Chief Investment Officer of the China Investment Corporation with a special address. The panel discussion was moderated by Victor Chu, Chairman and Chief Executive Officer of First Eastern Investment Group, with speakers including Ernesto Torres Cantú, Member of Executive Management Team and Head of International of Citi; Bonnie Y Chan, Chief Executive Officer of Hong Kong Exchanges and Clearing Limited; J Christopher Donahue, President and Chief Executive Officer of Federated Hermes, Inc; Antoine Gosset-Grainville, Chairman of the Board of Directors of AXA; and Dr Fred Hu, Founder and Chairman of Primavera Capital Group. The participants shared valuable insights on the drivers for global economic growth.
Another well-received panel discussion at last year’s AFF, the China Opportunities session, was joined by some heavyweight speakers, including Charles Li, Founder and Chairman, Micro Connect; Li Yimei, Chief Executive Officer of China Asset Management; Ken Wong, Executive Vice President of Lenovo and President of Lenovo Solutions and Services Group; and Wilson Zhang, Managing Director, Global Executive Head of Equities, China International Capital Corporation Limited. They delved into the potential of the Chinese market and investment prospects under the country’s commitment to technological innovation.
The green economy and sustainable development are among the key topics at this year’s forum. Corporates worldwide are actively undergoing a green transformation as regulators introduce relevant policies. The International Sustainability Standards Board (ISSB) published its first international sustainability disclosure standards, providing clear guidance for the green transition and sustainable development of corporates. In the meantime, corporates in Hong Kong will fully align the ISSB’s sustainability disclosure standards from this year. Sue Lloyd, Vice Chair of the ISSB, will join other speakers to share the latest progress in sustainability reporting standards.
Meanwhile, the HKTDC with AFF Knowledge Partner EY jointly conducted a survey exploring the perspectives and practices of Asian corporations and investors with regard to readiness to sustainability reporting, sustainable finance and climate change. The survey results were released today. Jack Chan, EY China Chairman and EY Greater China Regional Managing Partner, said the survey shared that an increasing number of businesses and investors are considering integrating sustainability into their operations, but barriers persist due to the lack of clearly defined frameworks and accessible resources. The survey also offers actionable insights and recommendations for companies looking to embark on a path toward sustainable development.
Global investment matchmaking and diverse exhibition zones
As one of the highlights of the forum, AFF Deal-making continues to offer an efficient one-on-one matching platform to project owners and investors. This year it has attracted over 270 investors and over 560 investment projects, covering a wide spectrum of sectors such as environment, energy and environmental technology, food and agritech, health tech, fintech, and deep tech. The Deal-making session helps foster active global collaboration and generate new business opportunities.
Diverse exhibition zones foster innovation and cross-border collaboration
This year’s AFF exhibition attracted over 140 fintech companies, start-ups and investment promotion agencies from around the world that are striving to stage an innovative and investment-driven grand financial event.
A variety of exhibition zones are featured, including the Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon and Global Investment Zone. The InnoVenture Salon offered a platform for over 100 start-ups to showcase the application of innovative technologies across different sectors, of which the Fintech HK Startup Salon has brought together over 60 fintech start-ups, featuring cutting-edge solutions from 22 countries and regions and helping to highlight Hong Kong’s potential as a powerhouse for innovation and technology. The Global Investment Zone connects participants with business opportunities from different countries and regions.
Sharing advanced insights into exploring emerging markets
The session tomorrow offers a wide array of topics, including an exploration of the impact of AI on the financial industry. Prof Stuart Russell, Co-chair of the World Economic Forum’s Council on AI, and Dr Kai-Fu Lee, Chairman of Sinovation Ventures, will deliver remarks at the Keynote Luncheon and Dialogues for Tomorrow respectively, exploring the development and opportunities that AI offers for the future of workforce, investors and businesses from different perspectives.
The Forum and the Gulf Cooperation Council (GCC) co-host the Gulf Cooperation Council Chapter tomorrow, making its debut this year. Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, and Jasem Mohamed AlBudaiwi, Secretary General of the Cooperation Council for the Arab States of the Gulf, will deliver keynote remarks. Financial officials and representatives of financial institutions from Oman, Qatar, Saudi Arabia and the United Arab Emirates will join industry leaders from Hong Kong to discuss the economic development of Gulf countries and the potential for financial cooperation with Hong Kong.
Additionally, the CIO Insights session, moderated by Albert Goh, Chief Investment Officer (External Managers), Exchange Fund Investment Office, Hong Kong Monetary Authority, panelists will share their views on asset allocation plans, maintaining investment convictions, and the opportunities emerging across the wider region and beyond. The session will bring together representatives from internationally renowned large corporations and family office, including Vincent Mortier, Group Chief Investment Officer of Amundi; Bei Saville, Chief Investment Officer, Treasury and Fingerboard Family Office, Advance; Manraj Sekhon, Chief Investment Officer of Templeton Global Investments; and Alexandra Wilson-Elizondo, Partner, Managing Director, and Co-Chief Investment Officer of Multi-Asset Solutions of Goldman Sachs Asset Management.
With environmental, social and governance (ESG) now playing a larger role in the development of businesses, Asia needs to look at achieving the goals set by the Paris Agreement over the next 30 years. COP29 this year have reinforced the global trend towards a green and low-carbon transition. In a session titled Dialogues for Tomorrow – Asia Dialogue on Post COP29 Implementation: Enhance Climate Ambition and Enable Financing Action, Liu Zhenmin, Special Envoy for Climate Change of the People’s Republic of China, will explore innovative financing mechanisms and collaboration opportunities with several leading experts to advance climate initiatives, as well as strategies to strengthen commitments and cooperation on climate goals. Additionally, Joe Tsai, Chairman of the Alibaba Group, will join the Global Spectrum session analysed the role of corporate social responsibility and philanthropy in supporting start-ups and social enterprises from a macro perspective.
For the latest edition of the AFF, the event has collaborated with several organisations to offer special discounts and privileges for travel, dining and shopping, encouraging participants to make the most of their stay in Hong Kong and experience the city’s vitality. Activities offered to visitors include the Peak Tram and Sky Terrace experience, the Aqua Luna Victoria Harbour Cruise, visits to Man Mo Temple and Tai Kwun, dining discounts in Lan Kwai Fong, access to the Winter Wonderland at Happy Valley Racecourse’s Happy Wednesday, and a dining discount provided by Lei Garden. The goal is to give overseas participants a deeper understanding of Hong Kong, promote the conference and mega event economy, and tell positive stories about the city.
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ShiftCents, Inc., also known as BankShift, an emerging leader in embedded banking innovation, is proud to announce the submission of an international patent application for its revolutionary Brand On Banking technology. This milestone builds on the company’s success in securing non-provisional patent-pending status in the United States in early 2024, further underscoring BankShift’s commitment to protecting its intellectual property on a global scale while addressing the growing demand for embedded banking solutions that enable financial institutions and brands to deepen consumer engagement and foster loyalty.
BankShift empowers financial institutions to white-label their consumer banking products for brands, driving new engagement, value, and loyalty. By leveraging this proprietary solution, financial institutions can distribute banking products within traditionally non-financial experiences, delivering modernized customer experiences while maintaining regulatory compliance.
The market for embedded banking is primed for transformation, representing a $1.5 trillion global fintech opportunity. Traditional financial institutions and brands are actively seeking solutions to seamlessly integrate banking services into their consumer ecosystems, creating deeper relationships and actionable data insights. BankShift is uniquely positioned to meet this need, offering a full-stack, turnkey solution that stands apart from conventional banking-as-a-service providers by enabling direct customer experience management while ensuring regulatory fidelity.
“We’re excited to take this next step in securing our innovation internationally,” said Rob Thacher, Founder and CEO of BankShift. “Our technology, already patent-pending in the United States, positions financial institutions and brands to build stronger, more personalized consumer relationships while driving significant growth together. This international patent filing reinforces our mission to modernize embedded banking and protect the value we bring to our partners.”
BankShift’s Market Impact
- Problem: Brands seek to stand out and deepen their connection with consumers by building financial relationships that provide valuable data and insights, ultimately driving sales and retention. However, financial institutions often lack the modern infrastructure and expertise needed to enable embedded banking.
- Solution: BankShift is a turnkey solution for financial institutions to distribute banking products within traditionally non-financial experiences, maintaining regulatory fidelity while enabling third parties to grow their business and enhance customer experiences to foster loyalty.
BankShift invites financial institutions and popular brands to explore the possibilities unlocked by its embedded banking technology. Consult with them today to learn more about how BankShift can revolutionize your embedded banking offering and elevate your brand presence.
The post BankShift Files International Patents to Revolutionize Embedded Banking Technology appeared first on News, Events, Advertising Options.
Fintech
Asian Financial Forum held next week as the region’s first major international financial assembly of 2025
The 18th Asian Financial Forum 2025 (AFF), co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), will be held at the Hong Kong Convention and Exhibition Centre (HKCEC) on 13 and 14 January (Monday and Tuesday). As the region’s first major international financial conference in 2025, the forum will examine the landscape for new business opportunities in various industries and regions in the coming year and promote global cooperation, and is expected to attract more than 3,600 finance and business heavyweights.
Themed “Powering the Next Growth Engine”, the AFF will bring together more than 100 global policymakers, business leaders, financial experts and investors, entrepreneurs, tech companies and economists to share their views on the shifting global economic landscape and financial ecosystem. These industry experts will dissect the risk management strategy, discover new business opportunities, and explore how Hong Kong can seek breakthroughs in a period of change.
First flagship financial event to showcase Hong Kong’s financial strengths
Launched in 2007, the AFF has become a flagship financial event for Hong Kong and the broader region, highlighting the city’s pivotal role as a globally renowned financial hub with a highly competitive economic and business environment. Amid a rapidly changing global macroeconomic landscape, and shifts in geopolitical dynamics and monetary policies, Hong Kong’s financial services sector continues to leverage its strengths across various domains, drawing on its world-class business infrastructure and robust regulatory regime to help drive cooperation and mutual success across Asia and around the world.
Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR Government, said: “Hong Kong’s financial market went through a lot of reforms and innovation last year. We have also launched a roadmap on sustainability disclosure in Hong Kong and issued a policy statement on responsible application of artificial intelligence in the financial market with a view to boosting green finance and sustainable financing. The upcoming Asian Financial Forum will gather the top-tier of the financial and various sectors from all around the world, the Mainland and in Hong Kong and hence is the perfect occasion for us to showcase to the world the new momentum and latest advantages of Hong Kong in the financial realm. Participants will also have a chance to learn more about how Hong Kong can partner with them to explore new collaborations and development areas while expanding their network here.”
Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive Officer, Hong Kong, of HSBC, said: “The global economy faces greater uncertainties in 2025 compared to 2024. However, robust growth in India and ASEAN nations, combined with increased policy support from Mainland China, is expected to keep Asia’s (ex-Japan) GDP growth at a strong 4.4%, well above the global average of 2.7%.” Against this backdrop, this year’s Asia Financial Forum is aptly themed “Powering the Next Growth Engine” and will focus on high-potential markets such as ASEAN, the Middle East (particularly the Gulf Cooperation Council countries), and the role that Hong Kong can play. Ms Lim said Hong Kong’s unique role as a bridge between the mainland and international markets allows it to support mainland enterprises expanding globally. She added that Hong Kong is committed to attracting global talent and investors, driving growth for both mainland and international businesses.
Patrick Lau, HKTDC Deputy Executive Director, said: “As we move into the new year, different economies around the world are facing challenges in maintaining economic growth. As an international financial centre, Hong Kong is playing an important role both as a ‘super-connector’ and a ‘super value-adder’ to link the world, enabling investors and fundraisers to leverage the city’s professional services and investment platforms to facilitate collaboration and create business opportunities. This year’s forum not only brings together heavyweight speakers and thought leaders but also builds on the success of previous years to provide a business platform for international participants, promoting financial and business cooperation and working together to launch new engines for growth.”
Exploring new trends as the world’s economic centre of gravity continues its shift east
Reflecting on a trend where the world’s economic centre of gravity continues to take an eastward shift, Christopher Hui will host two plenary sessions on emerging prospects in the region on the first day of the forum (13 January). The morning session of Plenary Session I will feature H.E. Adylbek Kasymaliev, Prime Minister of Kyrgyzstan, finance ministers from countries such as Pakistan and Luxembourg, and Yoshiki Takeuchi, Deputy Secretary-General of the Organisation for Economic Co-operation and Development (OECD), who together will explore the financial policy outlook for 2025. In the afternoon, Plenary Session II will bring together leaders from multilateral organisations to share their views on the role of multilateral cooperation in regional economic development. Speakers will include Roberta Casali, Vice-President, Finance and Risk Management, Asian Development Bank; Jin Liqun, President and Chair of the Asian Infrastructure Investment Bank (AIIB); and Satvinder Singh, Deputy Secretary-General for ASEAN Economic Community, Association of Southeast Asian Nations (ASEAN). Moreover, a new session, the Gulf Cooperation Council Chapter, will bring together HE Jasem Mohamed AlBudaiwi, Secretary General of the Gulf Cooperation Council (GCC), speakers from the Middle East and local experts to discuss prospects in fostering financial cooperation and investment between the member states of the GCC and Hong Kong.
Also on the first day, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, will host the Policy Dialogue session with speakers including European representatives such as Philip Lane, Chief Economist and Member of the Executive Board of the European Central Bank, and Dr Olli Rehn, Governor of the Bank of Finland. The discussion will explore the opportunities and challenges arising from the global shift towards more accommodative monetary policies and national authorities’ strategic deployment of measures to revitalise their economies and accelerate growth through innovation.
The panel discussion on China Opportunities returns this year with senior figures invited to analyse investment prospects under China’s commitment to technological innovation and its impact on global business. The panellists included Li Yimei, Chief Executive Officer of China Asset Management; and Ken Wong, Executive Vice President of Lenovo and President of Lenovo Solutions & Services Group.
Top economist and leading AI expert take the stage at keynote luncheons
Another highlight of this year’s AFF will be the two keynote luncheons featuring thematic speeches by two distinguished guests: Prof Justin Lin Yifu, Chief Economist and Senior Vice President of the World Bank (2008-2012), and Prof Stuart Russell, Co-chair of the World Economic Forum Council on AI. These two prominent figures will dissect the evolution of the global economic landscape amid changing international dynamics, and examine how artificial intelligence (AI) is emerging as a new driving force for rapid global economic growth respectively.
Exploring hot topics in the financial and economic sectors
The afternoon panel discussion, Global Economic Outlook, will feature a special address from Liu Haoling, Vice Chairman, President and Chief Investment Officer, China Investment Corporation. The panel will analyse international economic trends and provide insights into business opportunities and wealth accumulation in emerging industries and regions in 2025.
Other sessions titled Global Spectrum, Dialogues for Tomorrow and Thematic Workshop will feature in-depth discussions focusing on the latest industry trends, including AI, Web 3.0, sustainability, philanthropy and family offices. As AI becomes increasingly widespread and diversified in its societal applications, the second day of the forum will introduce a special session, Dialogue with Kai-Fu Lee, in which Dr Kai-Fu Lee, Chairman of Sinovation Ventures, will discuss the transformative power of AI and its impact on technological advancements in the global business ecosystem.
Exploring the impact of sustainable disclosure on investment strategies
Sustainable finance and environmental, social and governance (ESG) considerations have become an irreversible global trend. In 2025, Hong Kong is set to fully align its regulatory framework with the sustainability disclosure standard of the International Sustainability Standards Board (ISSB). Sue Lloyd, Vice Chair of the ISSB, will join other experts in discussing how adopting international financial sustainability disclosure standards can strengthen market confidence in Hong Kong’s capital markets, address post-COP29 implementation in Asia, and share strategies for sustainable investing across three separate sessions. In addition, the Breakfast Panel on the second day will focus on the flows of transition finance in shaping a sustainable future in the Greater Bay Area and beyond. Furthermore, the HKTDC has partnered with EY to conduct a joint market survey on sustainable development, aiming to explore the views and practices of Asian businesses and investors on topics such as sustainability reporting, sustainable finance and preparations for dealing with climate change. The results of the survey will be unveiled on the first day of the forum.
Expanding cross-border opportunities through the HK global investment platform
As a key element of this year’s forum, AFF Deal-making offers one-on-one matching services for project owners and investors. More than 270 investors and 560 projects are expected to participate, with investment opportunities across industries such as environmental, energy, clean technology, food and agriculture tech, healthcare tech, fintech and deep technology. The exhibition sections of the AFF – Fintech Showcase, InnoVenture Salon, FintechHK Startup Salon and Global Investment Zone – will attract more than 130 local and global exhibitors, international financial institutions, technology companies, start-ups, investment promotion agencies and sponsors, including Knowledge Partner EY, HSBC, Bank of China (Hong Kong), Standard Chartered Bank, UBS, Prudential, China International Capital Corporation (CICC), Huatai International and more. Notably, the InnoVenture Salon will provide a platform for more than 100 start-ups to showcase innovative technologies in a variety of fields such as finance, regulation, sustainability, health and agriculture, supported by more than 110 Investment Mentors and Community Partners.
IFW 2025 creates synergies with AFF to boost mega event economy
International Financial Week (IFW) 2025 runs from 13 to 17 January with the AFF as its highlight event. This year’s IFW will feature more than 20 partner events, covering a wide range of global financial and business topics, including private equity, family offices, net-zero investing and generative AI. As the region’s first major financial event of the year, the AFF attracts top global enterprises and leaders to Hong Kong, creating connections between capital and opportunities. The forum assists industry professionals in seizing opportunities in the new year and helps promote the mega event economy in Hong Kong.
This year, the AFF has collaborated with various organisations to provide special travel, dining and shopping discounts and privileges for overseas participants joining the event. Activities include Peak Tram and Sky Terrace trips, the iconic Aqua Luna red-sail junk boat, and guided tours of Man Mo Temple and Tai Kwun arranged by the Hong Kong Tourism Board. Participants can also enjoy dining discounts and guided tours from the Lan Kwai Fong Group, as well as the Winter Wonderland at the Hong Kong Jockey Club’s Happy Wednesday at Happy Valley Racecourse, all designed to immerse overseas visitors in the vibrancy and diversity of Hong Kong.
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