Fintech
Futu Accelerates International Expansion as the Company Announces Third Quarter 2021 Unaudited Financial Results
Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading, tech-driven online brokerage and wealth management platform focusing on global investors, has announced its unaudited financial results for the third quarter ended September 30, 2021.
In the third quarter, Futu recorded solid growth in total revenues with an 83.0% year-over-year increase to US$222.4 million. Non-GAAP adjusted net income increased 58.5% year-over-year to US$83.0 million.
Three businesses sustained strong growth momentum in the third quarter. Brokerage commission and handling charge income increased by 65.8% to US$119.9 million; interest income increased by 128.5% to US$81.1 million and other income increased by 55.6% to US$21.3 million.
As of quarte end, the number of Futu users worldwide reached 16.6 million, an increase of 58.6% year-over-year; the number of Futu registered clients reached 2.58 million, an increase of 119.9% year-over-year; the number of Futu’s paying clients reached 1.17 million, an increase of 179.2% year-over-year. Client stickiness remained strong and the quarterly client retention rate was as high as 97%.
It is worth noting that Futu’s quarterly net paying client increase was 166,000, a year-over-year increase of 44.7%. In the first three quarters, more than 70% of the net increase in paying clients are from Hong Kong SAR, Singapore, and other international markets. As of quarter end, client assets totaled US$54.45 billion, a year-over-year increase of 111.0%.
In addition, Futu’s quarterly total trading volume reached US$173.5 billion, a year-over-year increase of 33.1%. Client daily average revenue trades (DARTs) reached 576,810, a year-over-year increase of 52.2%.
Hong Kong industry leader status reinforced with Futu users accounting for about one third of Hong Kong adult population
In the third quarter, Futu continued its solid growth across high-growth markets. Rooted in Hong Kong, Futu utilizes technologies to promote the development of Hong Kong’s financial services. Futu further reinforced its status as a leader in the Hong Kong brokerage industry, highlighted by a 162% increase in Hong Kong paying clients – the sixth consecutive quarter to realize triple-digit percentage growth year-over-year.
Futu’s market penetration rate in Hong Kong has been rising steadily. According to the latest population statistics from the Census and Statistics Department, Futu’s number of users now account for about one third of Hong Kong’s adult population and continues to reinforce its status as an industry leader. Per the open data, Futu’s monthly market share in Hong Kong stock trading has exceeded the lower limit of the market share range of Category A SEHK Participants since July 2020. Therefore, it can be reasonably deducted that Futu has entered the ranks of Category A SEHK Participants, becoming the first retail brokerage firm to have achieved the standing.
As measured by the number of Hong Kong active users and the UGC content generated, the Futubull Community has become the second largest online forum in Hong Kong, leading the trend of “social investing” in Hong Kong. Based on quarterly trading day data, an average Hong Kong user spent as long as 33 minutes on the Futubull App. On an average trading day in the quarter, over 350,000 Hong Kong users were active in the online Community and generated nearly 100,000 pieces of UGC content.
Internationalization accelerates with Singapore market AUM up over 50% QoQ
Futu’s global expansion further expedited in the third quarter. In Singapore, Futu officially launched fund products in the quarter and continued to expand the categories of trading products to meet the diversified investment needs of Singapore clients. Meanwhile, Futu is dedicated to investor education in Singapore and has invested substantial resources. During the quarter, 249 new videos and infographics were produced, covering 40 courses and topics; in collaboration with the Singapore Exchange (SGX) and other major financial institutions, Futu jointly held seminars and featured events such as the Paper Trading Competition to further promote its industry standing.
In-depth investing education services and the ultimate online product experience have attracted numerous quality Singapore clients for Futu. In the quarter, the scale of Singapore client assets increased by 52.4% compared with the last quarter. moomoo has become one of the fastest growing one-stop investment platforms in Singapore, continuously ranking among the top three financial apps as measured by download volume.
In the United States, Futu insisted on fully localized operations and realized a high quarter-on-quarter growth in the number of US users. During the quarter, moomoo and Benzinga, a well-known US financial website, jointly organized moomoo’s first Paper Trading Competition in the U.S.. In addition, moomoo was invited to attend the FinTwit Conference, an established FinTech event in the US, to share moomoo’s product features and stories with investors, which further enhanced moomoo’s reputation and influence.
Futu corporate services now trusted by over 450 well-known companies
Futu has long provided companies with corporate services—such as IPO underwriting, IR and PR management, ESOP solutions, and trust services—establishing the company as the preferred service provider for large-cap companies.
As of quarter end, Futu has provided IPO underwriting and IR services to 215 companies. Futu achieved another remarkable quarter in IPO business in the Hong Kong market. Of companies listed in Hong Kong in the first three quarters, all companies with a market value of over HK$100 billion and 80% of those worth over HK$5 billion chose Futu’s corporate services. In the quarter, a number of companies partnered with Futu on their IPO journeys in Hong Kong, such as Li Auto, XPeng Motors, Zylox-Tonbridge Medical, and Brii Biosciences. Futu’s “Ten Billion IPO Club” now has 30 member companies (that is, companies whose IPO subscription amount by Futu clients exceeded HK$10 billion).
In the quarter, Futu officially launched an integrated, digitalized Investor Relations/Public Relations platform customized for listed companies. Ushering in a new era of corporate communications and investor relations management, the one-stop platform enhances the efficiency and paradigm of market tracking, investor profiling, and quantified communications. As of quarter end, over 700 companies had established a presence in Futubull Community and over 100 Hong Kong listed companies worth over HK$10 billion have opened a Futu Page. Abundant well-known listed companies joined in the quarter, such as POP MART, BYD Co. Ltd., JD Health, and Anta Sports.
In addition, Futu has registered a licensed trust or company service provider (license number: TC006475) under the Hong Kong Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) and registered a trust company under the Hong Kong Trustee Ordinance (Cap. 29). The Futu trust team brings together senior experts across bank trust departments, multinational trust service providers, family offices, and possesses extensive experience in ESOP equity incentive trust and family trust services.
As of quarter end, Futu has secured over 300 ESOP clients, a year-over-year increase of over three digits. Clients include leading companies in consumer goods, healthcare, cutting-edge technology, and TMT industries such as HEYTEA, Akesobio, BOE Varitronix, Ximalaya, and Tencent Music. By providing enterprises with full-process services from plan design, trust taxation services, data management, and option vesting, Futu ESOP has become a preferred one-stop ESOP equity incentive service provider for leading companies across industries.
Futu Money Plus achieved record AUM with a 132% YoY increase
As of quarter end, the company’s wealth management business Futu Money Plus’ AUM reached HK$17.7 billion, a year-over-year increase of 132.4% and a quarter-on-quarter increase of 28.5%. This also broke a record in terms of the net AUM increase during a single quarter. The penetration rates of fund investors among Futu’s paying clients attained new highs. By the end of their third quarter, the number of fund investors exceeded 115,000, a year-over-year increase of 287%. Futu added a net 40,000 new fund investors in the quarter.
Distribution of private investment funds also achieved notable growth and their AUM rose 135.0% compared with the previous quarter and grew 7 times from a year ago; PI (professional investor) investors increased by 109% compared with the previous quarter and 30 times on a year-over-year basis.
As of the third quarter, Futu Money Plus had partnered with 56 world-renowned financial institutions, among which 6 were introduced last quarter, including Schroders Investment Management, the Carlyle Group and Fenghe Fund Management. In the quarter, Futu initiated another in-depth collaboration with the leading asset manager Fullgoal Hong Kong to launch and distribute the Fullgoal China Equity Fund.
To further enhance the investment experience for its partners and users, Futu transformed the infrastructure of alternative products in the quarter by adding features such as streamlined capital calls, which have laid a solid foundation for more innovations in the future. Meanwhile, Futu optimized the trading system for trading and execution of bonds, increasing the fill rate for bond trading.
Since its launch, Futu Money Plus has always insisted on strict selection criteria to provide clients with a series of quality products. Meanwhile, Futu has also integrated the big data algorithm with the industry-leading operational capabilities to continuously improve our online investment services. By fully assessing client needs and risk preferences, Futu offers them personalized premium services so that they can invest their wealth with ease and convenience. Through these efforts, Futu manages to gain increasing trust and confidence from high-net-worth clients. The number of fund investors and AUM of our wealth management business are both rising steadily.
Futu has also been proactively expanding its wealth management business in Hong Kong SAR and international markets. In the third quarter, Futu officially launched its mutual fund business in Singapore, providing clients with 40 mutual fund products, and counting, from reputable institutions such as BlackRock, Allianz, and Goldman Sachs. With more products made available and better localized operations, Futu Money Plus will make more progress in many more international markets.
The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.
Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion
Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.
By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.
Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.
Source: Fintech Futures.
Juniper Research Highlights 2025’s Payment Trends
Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.
The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.
Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.
Source: Juniper Research.
MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets
MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.
MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.
Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.
Source: MeaWallet News.
Nucleus Security Among Deloitte’s Fastest-Growing Companies
Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.
With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.
Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.
Source: PR Newswire.
OpenYield Secures Funding to Transform the Bond Market
OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.
This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.
Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.
Source: PR Newswire.
Key Takeaways: Shaping the Future of Fintech
Today’s developments underscore several critical themes in the fintech landscape:
- Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
- Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
- Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
- Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
- Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.
The post Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations appeared first on News, Events, Advertising Options.
As fintech continues to reshape the global financial landscape, today’s briefing highlights pivotal developments, strategic expansions, and innovative launches across the industry. This op-ed explores the latest advancements with commentary on their potential impacts and challenges.
Finastra Data Breach: A Wake-Up Call for Fintech Security
Source: KrebsOnSecurity
The cybersecurity landscape is buzzing after Finastra, one of the largest financial technology providers globally, confirmed an investigation into a potential data breach. Reports suggest unauthorized access to its systems, raising concerns about data security across its client base, which includes thousands of banks and financial institutions worldwide.
Implications and Challenges
While the details of the breach remain sparse, this incident underscores a glaring vulnerability in the fintech sector—cybersecurity. As financial services increasingly rely on interconnected ecosystems, breaches like these threaten not only individual institutions but also the trust customers place in fintech platforms.
The key takeaway for the fintech industry is clear: proactive cybersecurity strategies must go beyond compliance. Real-time threat detection, robust encryption standards, and regular audits are no longer optional but essential for maintaining operational integrity.
Future Considerations
This breach could trigger a domino effect, prompting regulators to tighten security standards and requiring fintech companies to double down on investments in data protection. Startups and mid-tier players, often lacking extensive cybersecurity budgets, may face significant pressure to keep pace.
PayPal Resurrects Money Pooling Feature
Source: TechCrunch
In a bid to stay ahead of the competition, PayPal is reintroducing its Money Pooling feature, a popular tool that was discontinued in 2021. The feature allows users to pool funds collectively, catering to families, small businesses, and social groups.
Strategic Revival
This move reflects PayPal’s commitment to customer-centric innovation. By reinstating a feature beloved by its user base, the company seeks to reclaim market share lost to emerging competitors offering similar functionalities.
Broader Industry Impacts
Money pooling represents a broader trend in fintech—customized solutions that cater to niche needs. This reintroduction may inspire competitors like Venmo and CashApp to refine their collaborative payment offerings.
While this move strengthens PayPal’s ecosystem, its success will depend on seamless integration with existing services and robust fraud prevention mechanisms to avoid abuse of the feature.
Santander Expands Fintech Reach in Mexico
Source: Yahoo Finance
Santander is making waves in the Latin American fintech space with the launch of a dedicated fintech unit in Mexico. The initiative aims to capitalize on Mexico’s growing fintech adoption and digital payments market, valued at billions of dollars annually.
Strategic Significance
Santander’s expansion into Mexico highlights the region’s untapped potential. Latin America is a burgeoning market for fintech, driven by increasing smartphone penetration, a youthful demographic, and demand for accessible financial services.
Challenges on the Horizon
While Mexico offers immense opportunities, regulatory complexities and market competition from local players like Clip and Konfío pose significant challenges. Santander will need to blend its global expertise with local adaptability to succeed in this dynamic market.
2024 Global Fintech Awards: Spotlighting Excellence
Source: PRNewswire
Benzinga has announced the winners of the 2024 Global Fintech Awards, honoring companies and individuals driving innovation in financial technology. This year’s winners spanned categories like blockchain, artificial intelligence, and payment solutions.
Recognizing Industry Leaders
Awards like these highlight the collaborative spirit and entrepreneurial drive fueling fintech growth. Recognizing trailblazers not only motivates incumbents but also inspires startups to push the boundaries of innovation.
What It Means for the Ecosystem
The awards also bring attention to emerging technologies. Categories such as blockchain and AI signal the industry’s continued focus on leveraging cutting-edge tech for efficiency and scalability.
Commonwealth Central Credit Union Partners with Jack Henry
Source: FinTech Futures
Commonwealth Central Credit Union (CCCU) has announced a partnership with Jack Henry, a leading financial technology provider, for a comprehensive tech upgrade. The collaboration focuses on enhancing member experience through improved digital services.
Modernizing Member Experiences
Credit unions have often lagged behind major banks in adopting advanced digital solutions. By partnering with Jack Henry, CCCU aims to bridge this gap, offering members streamlined services such as mobile banking, automated lending, and personalized financial tools.
A Growing Trend
This partnership reflects a broader trend in the financial industry—credit unions and smaller banks embracing fintech to remain competitive. As customer expectations evolve, partnerships like this may become the norm rather than the exception.
Key Takeaways for the Fintech Industry
- Cybersecurity is Critical: The Finastra breach underscores the need for robust security measures.
- Innovation Drives Loyalty: PayPal’s revival of its Money Pooling feature highlights the importance of listening to customers.
- Regional Opportunities: Santander’s expansion into Mexico showcases the untapped potential of emerging markets.
- Recognition Matters: Awards like Benzinga’s provide valuable visibility for companies and individuals shaping the industry.
- Partnerships Foster Growth: Collaborations between credit unions and fintech companies signify a trend towards modernized financial solutions.
The post Fintech Pulse: Industry Updates, Innovations, and Strategic Moves appeared first on News, Events, Advertising Options.
The fintech sector continues its relentless drive toward innovation and market dominance. Today’s highlights include a record-breaking customer milestone for Revolut, groundbreaking fintech solutions for women in the EU, open entries for the PayTech Awards 2025, implications of political shifts on funding, and notable recognition at the US FinTech Awards.
Revolut Hits 50 Million Customers: A Global Fintech Giant’s Milestone
Source: Revolut
Revolut, the UK-based financial super app, has achieved a monumental feat: surpassing 50 million customers worldwide. This milestone underscores its position as a leader in the global fintech landscape, furthering its ambition to create the world’s first truly global bank.
Key to this success has been Revolut’s strategy of expanding its offerings, from banking to travel and crypto services, all within a seamless user experience. The company’s recent ventures into emerging markets such as Latin America and Asia demonstrate its intent to bridge financial services gaps while retaining competitive differentiation through technology.
This milestone is not just a triumph for Revolut but a signal of fintech’s capacity to redefine traditional banking. It reinforces the narrative that digital-first strategies, customer-centric innovation, and international scalability can challenge long-standing financial institutions.
PayTech Awards 2025: Celebrating Excellence in Innovation
Source: FinTech Futures
The PayTech Awards 2025 are officially open for entries, promising to spotlight the brightest minds and most innovative projects in the payment technology sector. These awards are a testament to the industry’s commitment to advancing secure, seamless, and scalable payment systems.
This year, the focus is on emerging technologies that redefine how businesses and consumers interact financially. Categories will recognize achievements across multiple domains, including sustainability in payments, AI-driven solutions, and partnerships that push boundaries.
As fintech companies prepare their entries, the awards provide a timely reminder of the sector’s ongoing evolution and the collaborative efforts required to achieve meaningful breakthroughs.
U.S. Politics and the Fintech Sector: A New Era of Funding?
Source: American Banker
The U.S. fintech sector might witness an infusion of optimism as speculation about a second Trump presidency gains momentum. The Trump-era policies of deregulation and venture capital encouragement are remembered as catalysts for unprecedented fintech growth during his first term.
While it remains uncertain how regulatory landscapes will shift, the possibility of a more relaxed approach toward fintech compliance could rejuvenate funding inflows. Investors and startups alike are watching closely, weighing the potential benefits against long-term risks tied to reduced oversight.
A politically charged backdrop often spells volatility, but for fintech, it may also spell opportunity. Preparing to adapt quickly will be crucial for startups and established players in the face of any regulatory pivot.
Klara AI and Unlimit: Addressing the €1.3 Trillion Female Economy
Source: FF News
Klara AI has teamed up with Unlimit to launch a fintech solution aimed at empowering women across the EU. This collaboration targets the €1.3 trillion female economy by addressing the unique financial needs of women entrepreneurs and consumers.
The solution promises to integrate AI-powered tools with streamlined financial management services, enabling users to access credit, manage investments, and scale businesses effectively. By tailoring services to the underserved female demographic, the partnership hopes to drive financial inclusion and support economic growth.
This initiative stands as a blueprint for fintechs exploring niche markets, proving that innovation tailored to specific segments can yield transformative results.
Autire: Accounting Tech of the Year at US FinTech Awards
Source: Business Wire
Autire, a rising star in financial technology, has been crowned ‘Accounting Tech of the Year’ at the US FinTech Awards 2024. The award recognizes Autire’s ability to blend cutting-edge AI with intuitive user interfaces, delivering unparalleled accounting solutions for businesses of all sizes.
Autire’s platform has gained traction for automating complex accounting tasks, ensuring compliance, and delivering actionable insights through real-time analytics. Its emphasis on reducing administrative burdens for SMEs has been particularly impactful, enabling entrepreneurs to focus on growth rather than bookkeeping.
The recognition not only cements Autire’s reputation but also highlights the role of AI-driven accounting solutions in reshaping business operations globally.
Final Thoughts: A Fintech Revolution in Full Swing
From customer milestones to policy-driven opportunities, the fintech ecosystem is in constant evolution. Revolut’s ascent to 50 million users signals growing consumer trust in digital platforms. The PayTech Awards continue to inspire innovation, while political shifts could redefine the regulatory landscape. Initiatives like Klara AI and Unlimit emphasize the power of targeted solutions, and companies like Autire show how niche technologies can achieve broad impact.
The next phase of fintech growth will likely hinge on inclusivity, adaptability, and innovation—pillars that today’s news stories exemplify.
The post Fintech Pulse: Milestones, Partnerships, and Transformations in Fintech appeared first on .
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