The United States and WHO recently unveiled a new multi-year partnership aimed at enhancing maternal, and child health, and nutrition in Laos.
CapBridge Shares Insights on the Recent Launch of Digital Asset ETFs in Hong Kong

SINGAPORE – Media OutReach Newswire – 26 April 2024 – CapBridge, a leading investment syndication and financial products platform based in Singapore, has shared their comments on Hong Kong’s recent approval for the launch of spot Bitcoin and Ether ETFs. The following insights were shared by Johnson Chen, CEO & Founder of CapBridge.
On April 15, Hong Kong’s Securities and Futures Commission (SFC) gave the nod for the launch of spot Bitcoin and Ether exchange-traded funds (ETFs), seemingly catapulting the city into the forefront of Asia’s push to integrate digital assets into mainstream investment portfolios.
Following the HK SFC’s approval, several offshore Chinese asset managers — including Bosera Asset Management, Harvest Global Investments and China Asset Management — are set to launch their spot digital asset ETFs. This regulatory development, riding the tailwind of digital asset ETF developments in the US, will potentially accelerate greater adoption of digital assets in the APAC region. It potentially grants investors direct access through specified brokers, eliminating the need to buy through specialized crypto exchanges and to manage self-custody, instead utilizing regulated entities for the needed safekeeping.
Hong Kong has now knowingly set a precedent for other Asian markets, many of which have been still cautious thus far. Over the past year, Hong Kong has doubled down its efforts to drive digital asset innovation while trying to enhance its regulatory framework. This progressive approach is expected to ripple across APAC markets, including Singapore, Korea, and Japan, by drawing significant capital inflows and investments. With a combined ETF assets under management (AUM) in the APAC region said to be totaling $1.2 trillion, the APAC region presents sizable opportunities that can be further unlocked through the introduction of digital asset ETFs.
Institutional involvement
Historically, the broader adoption of digital assets like Bitcoin has been hindered by traditional finance (TradFi) players’ reluctance to venture beyond their conventional investment portfolios due to complexities in acquiring, securing, managing, and transferring Bitcoin, along with regulatory uncertainties.
However, a transformative shift now seems underway, propelled by the entry of TradFi behemoths, including Blackrock and Fidelity, whose filing for a spot bitcoin ETF triggered a bullish surge in bitcoin prices. Approval of spot Bitcoin ETF applications from 11 issuers in January 2024 not only facilitates investors’ access to Bitcoin without the need for direct management but also signals a new juncture for the market. The foray of TradFi players into digital assets underscores a well-trodden narrative: the imperative for market participants to engage fueled by irresistible FOMO.
The trend now echoes in Hong Kong as institutional participation gathers pace. Notably, the three asset managers granted spot digital asset ETF approval are among Greater China’s largest, with a combined AUM exceeding USD $700 billion. The increased involvement of such large major institutional players is widely expected to prompt others to follow and incorporate digital assets into their portfolios.
Innovation At The Forefront
Hong Kong’s recent move also showcases innovative practices. It took a step further than its US counterparts by becoming the first jurisdiction to approve spot Ether ETFs. By opening access to regulated and secure investment products tracking the price of Ether, Hong Kong’s decision can potentially channel substantial investments into the world’s second-largest cryptocurrency. With Ether’s market value at around USD $385 billion and a market share of about 16% in the cryptocurrency market, this move could unlock further institutional participation and access, while the US SEC’s current stance is still unclear on ETH ETFs.
Notably, the launch of spot Bitcoin and Ether ETFs in Hong Kong has been said to allow for in-kind creation, as opposed to just the cash-create model favored by US authorities. ETF issuers can exchange the fund’s underlying assets (e.g. Bitcoin and Ether) directly with the broker dealer for ETF unit creation and redemption. As highlighted by some asset managers, the use of cash creations and redemptions, together with the in-kind model, may cause problems in keeping share prices aligned with Bitcoin’s Net Asset Value (NAV) in some situations.
Currently, Asia-based investors eyeing US BTC ETFs encounter hurdles like currency conversion requirements, as these ETFs exclusively accept USD for subscriptions, along with the inconvenience of trading across different time zones. Hence, if digital asset ETFs in Hong Kong offer advantages like multi-currency subscription options and allow trading in Asia time zones, these features will streamline access to digital assets and unlock vast investment opportunities for investors based in Asia. With these HK spot ETFs potentially paving the way for additional digital asset investment products unavailable elsewhere, it’s interesting to see how Hong Kong’s decision influences the US’s stance on digital asset ETFs and regulators in other jurisdictions.
Potential Chinese Investment
To fully grasp the implications of HK’s ETF approval, one must consider its impact on mainland China investors. If access is granted to Chinese mainland investors, many of whom are actively seeking alternative havens to store their wealth alongside gold and overseas assets, it could substantially impact the influx of investment into these ETFs, keeping in mind the scale of Mainland China’s ETF AUM is nearly six times that of Hong Kong.
Not all are optimistic about digital asset spot ETFs in Hong Kong. Senior Bloomberg ETF analyst Eric Balchunas noted that Chinese retail investors may lack access. Given that the Stock Connect program — typically used by mainland Chinese investors to access eligible shares listed on the Hong Kong Stock Exchange — still excludes them from digital asset ETFs, this potentially questions and casts doubt on the prospects of spot counterparts in Hong Kong. However, this doesn’t necessarily diminish the significance of Hong Kong’s ETF approval. While the market awaits clarity on access for mainland Chinese investors, developments in Hong Kong indicate a growing acceptance of digital assets as a legitimate asset class and governments’ proactive exploration of their use cases, marking a significant step forward. Hong Kong sets a commendable example by championing innovation, which is likely to reverberate across Asia’s financial ecosystem.
Johnson Chen further commented, “As we stand on the brink of a new financial era, the combination of TradFi via ETFs with digital underlying assets (instruments like Bitcoin and Ether, also affectionately bundled together and conveniently known as Web3) illustrates the convergence of two worlds. These developments exemplify how innovation, embraced by regulatory bodies and market leaders, can lay the groundwork for a more inclusive and dynamic financial future.”
Disclosures: The author of this opinion article does not hold any positions in the ETFs mentioned.
Hashtag: #CapBridge #1exchange #ETFs #VirtualAsset #DigitalAsset
The issuer is solely responsible for the content of this announcement.
BioMed Technology Among Pioneering Recipients of Investment from CUHK Innovation Limited for Microbiome-based Healthcare Solutions

HONG KONG SAR – Media OutReach Newswire – 26 April 2024 – BioMed Technology Holdings Limited (“BioMed“), a start-up founded by CUHK professors and alumni, announced an investment received from CUHK Innovation Limited.

BioMed Technology Holdings Limited, a startup nurtured by Hong Kong Science Park, was founded by a group of CUHK professors and alumni. The company specializes in microbiology and bioinformatics and is dedicated to promoting precise and personalized microbiome-based interventions. These interventions are designed to restore the balance of the oral, skin, and gut microbiomes, thereby improving both physical and mental health.
Up to now, BioMed has successfully built a microbiome database comprising over 10,000 data points gathered from diverse regions across Asia. This valuable database continues to grow and serves as a promising cornerstone for the company’s future R&D endeavors.
Commercially, BioMed has established collaborations with over 200 healthcare service providers in Hong Kong and directly markets its products like E3 probiotics and EC Cream to consumers through more than 260 retail outlets under the PGut Brand. Furthermore, the company has also expanded its operations to Macau, Mainland China, and Thailand.
Managing Director and Chief Investment Officer of CUHK Innovation Limited, Ms Joyce Ng, ” People are essential building blocks for business success. The founders of this company comprise professionals from diverse fields who have strong ties to CUHK. These include Professor Tsui Kwok-Wing Stephen, a professor in the School of Biomedical Sciences and director of the Hong Kong Bioinformatics Centre and the Centre for Microbial Genomics and Proteomics at CUHK, Dr. Steven Loo, a dermatologist and Clinical Assistant Professor (honorary) at CUHK, and Vincent Tsang, a serial entrepreneur and CUHK alumnus. By combining their expertise, we believe they can drive innovation and commercialisation to deliver next generation of customerized solutions to consumers.”
Medical director and co-founder of BioMed, Dr. Steven Loo stated, “We are honored to be the first company to receive investment from the newly established CUHK Innovation Limited. This partnership will provide us with invaluable support and access to CUHK’s robust ecosystem, enabling us to accelerate our research and development initiatives and expand our market presence. With the backing of the CUHK Innovation Limited, we are confident in our ability to take BioMed to new heights of innovation and empower individuals with personalized and effective healthcare solutions that harness the potential of the microbiome.”
As part of its strategic expansion, BioMed has recently launched a pioneering initiative in the rapidly growing pet healthcare market. It has joined forces with PetSpace, the leading veterinary group in Hong Kong, to conduct a large-scale research project recruiting a total of 500 felines and canines. This collaboration has positioned BioMed as the primary repository of pet microbiome data in Hong Kong. BioMed and PSG Vivet, a veterinarian-led product development company, have formed a strategic partnership to develop gut microbiome tests and personalized probiotics for pets. The products are expected to launch in Q3 2024.
Chief Executive Officer and co-founder of BioMed, Mr. Vincent Tsang said,”Through the support of the CUHK Innovation Limited, BioMed has fortified its capabilities in providing microbiome-based solutions for human and veterinary healthcare. Our unwavering commitment to advanced technology, scientific research, and personalized health management positions us with utmost confidence to drive innovation and deliver exceptional outcomes.”
Hashtag: #BioMedTechnology #BioMed #SciencePark #microbiome #probiotics #CUHKInnovation
https://biomed.hk/
https://www.facebook.com/PGUT.HK/
https://www.instagram.com/pgut_hk
The issuer is solely responsible for the content of this announcement.
About BioMed Technology Holdings Limited
BioMed Technology Holdings Limited (BioMed), a startup nurtured by Hong Kong Science Park, was founded by a group of CUHK professors and alumni. It advocates precise and personalised microbiome-based healthcare solutions based on DNA testing results, to restore the balance of oral, skin and gut microbiome.
BioMed has raised funds in its oversubscribed seed round from Alibaba Hong Kong Entrepreneurs Fund (AEF), Gobi Partners GBA, The International Medical Co. Ltd. (TIMC) and Human Health Holdings Limited (1419.HK). DSS (NYEX: DSS), a US listed company is also a shareholder of BioMed.
https://biomed.hk/
About CUHK Innovation Limited
CUHK Innovation Limited is a newly established company wholly owned by CUHK to make investments in innovative business and impact ventures related to CUHK’s technological innovations. CUHK Innovation Limited will start with an early-stage fund, with a focus on seeking matching funds from venture capital investors.
The Company is committed to supporting CUHK’s spin-off companies as they commercialise their innovative research and development achievements, and furthering the University’s mission in promoting and enhancing entrepreneurial culture.
https://cuhkinnovation.hk/
ZUHYX Drives Cryptocurrency Knowledge Popularization and Builds a Journey of Intelligent Trading

NEW YORK, USA – Media OutReach Newswire – 26 April 2024 – Recently, the global top-tier cryptocurrency exchange ZUHYX announced that it will launch a series of innovative research and educational resources to popularize cryptocurrency knowledge and enhance the investment wisdom of users. The ZUHYX team stated that amid the intensifying global inflation and limited opportunities in traditional finance, there is a growing demand from the public to protect assets and explore new investment channels. Cryptocurrency has become an important option in this regard. By providing comprehensive educational resources and knowledge content, ZUHYX will help users easily grasp blockchain and cryptocurrency knowledge from basic to advanced levels.
ZUHYX introduces educational enhancements, partnering with global educational institutions to offer comprehensive cryptocurrency and Web3 education for users of all levels, facilitating tailored learning paths.
Additionally, ZUHYX Exchange aims to broaden its educational offerings, focusing on blockchain technology exploration for new users. This initiative encompasses intermediate to advanced educational resources, promoting free education and embracing the decentralized potential of blockchain technology.
In the education innovation plan, ZUHYX places special emphasis on fairness and transparency. The in-depth research reports of ZUHYX not only offer professional information analysis services to individual investors, helping bridge the gap between them and professional institutions in information acquisition and analysis but also provide valuable insights and latest developments to the entire blockchain community.
ZUHYX will regularly publish market analysis, industry news, and trading strategy discussions to the community, creating an interactive and enriching learning environment for users. Community users are encouraged to provide feedback and suggestions, which ZUHYX actively responds to, continuously optimizing and improving services.
The ZUHYX team stated that in the digital age, true financial freedom begins with education. ZUHYX is committed to creating a warm and supportive community environment, encouraging users to grow together and share their stories and experiences. Through the popularization of educational resources and sharing of knowledge, ZUHYX aims to contribute to ending financial inequality, promoting inclusive development, and creating a more free and inclusive society.
Hashtag: #ZUHYX
The issuer is solely responsible for the content of this announcement.
Aitrasound® Medical Group Announces Completion of a Pre-A Financing Round of Nearly 60 Million Hong Kong Dollars
Launching New Brand Aitrasound® and an AI Medical Imaging Product Line
HONG KONG SAR – Media OutReach Newswire – 26 April 2024 – Recently, Aitrasound® Medical Group (Telefield Medical Imaging Limited) announced the formal completion of a pre-Series A financing round of nearly 60 million Hong Kong dollars. The pre-Series A financing was started in March 2023 with an initial round of nearly 40 million Hong Kong dollars, and successfully added with 2.5 million US dollars in the first quarter of this year. Led by the AEF Greater Bay Area Fund managed by Gobi Partners GBA, the investment will be mainly used for the establishment of Internet hospitals and a digital therapy platform for schools and families, achieving an integrated commercial loop of screening, diagnosis, and treatment for scoliosis.

The company has now officially started its Series A financing. It plans to raise an initial round of 50 million RMB to expand the integrated new business model for musculoskeletal chronic disease screening, diagnosis and treatment, as well as to develop its product line on Aitrasound®, AI-empowered 3D ultrasound imaging diagnosis. The Series A financing will also contribute to the establishment of its global headquarter in Mainland China. The negotiations with interested cities are underway to finalize the details.
At the 89th China International Medical Equipment Fair (CMEF) in Shanghai from April 11th to 14th, 2024, Aitrasound® Medical Group officially launched its new group brand Aitrasound® and opened a new chapter for its development, aiming to achieve AI-empowered 3D ultrasound imaging diagnosis to serve more chronic diseases. The inspiration behind the Aitrasound® comes from the fusion of AI (Artificial Intelligence) and ultrasound technology, denoting the dedication to realizing the vision of “To Make 3D Medical Imaging—Anytime, Anywhere, Anyone and Affordable”.
Based on the globally pioneering technology of 3D ultrasound spinal imaging assessment, Scolioscan® is a sub-brand of Aitrasound®, which integrates scoliosis assessment equipment, spinal image analysis software and data management cloud platform to provide a comprehensive solution for the screening, diagnosis and treatment of scoliosis. From mass screening to non-surgical intervention, it achieves quantitative assessment with zero radiation and high accuracy, making screening, diagnosis and treatment, safer and more accurate, image-guided and standardized for specialists.
According to statistics published by Chinese Preventive Medicine Association in 2022, the incidence of adolescent idiopathic scoliosis (AIS) has reached 3% to 5%. The majority of patients appear normal and therefore are easily ignored for the disease during the best timing of treatment, i.e. the early stage. Timely diagnosis and frequent follow-up using Scolioscan can maximize therapeutic outcomes for non-surgical treatments. Screening programs in different cities in China have proven that the Scolioscan® can significantly improves the economic efficiency and feasibility of school screening, by providing accurate confirmation of screening results on site after initial check using various available approaches based on body surface information.
With spinal health examinations being included in China’s physical examinations of primary and secondary school students, the increased awareness has led to a higher demand for treatment. As the demand for spinal rehabilitation is growing rapidly, Scolioscan® provides a keen observation of spine curves during treatment. The radiation-free scanning method meets the clinical need for frequent monitoring, allowing doctors and patients to view disease progression in real-time and obtain timely feedback about treatment outcomes.
What Innovative imaging can provide is always beyond our imagination. Ultrasound is a high-frequency sound wave that can penetrate through body soft tissues, generate echoes from tissues and organs, and form images for doctors to diagnose various diseases and facilitate their treatments. Aitrasound® Medical Group originated from the innovative technology of 3D ultrasound imaging developed by the Department of Biomedical Engineering in The Hong Kong Polytechnic University. By incorporating artificial intelligence algorithms into ultrasound imaging technology, it breaks traditional limitations of ultrasound and achieves revolutionary 3D ultrasound skeletal imaging. In addition to spinal diseases, conditions affecting the muscles, ligaments, bones, and joints of the entire body can also be accurately assessed through 3D imaging. This innovative technology makes diagnosis and treatment more accurate, convenient and effective, thus opening a “Green” channel for healthcare. The new generation of musculoskeletal ultrasound products uses AI-empowered imaging algorithms to facilitate non-invasive, painless, and radiation-free 3D imaging of the pelvis, limbs, shoulders, elbows, and knees. Combined with professionally designed scientific exercise programs, it helps patients with personalized rehabilitation training under the guidance of a digital therapy app. In this way, they can achieve better results of posture correction, chronic disease intervention, and chronic pain intervention. The 3D ultrasound imaging products can be integrated with rehabilitation therapy and surgical assistance products, together with force sensing technology, rehabilitation robots, fracture alignment surgeries, spinal surgeries, and anesthesia injection. It makes real-time dynamic imaging more accessible so that doctors can provide more personalized, radiation-free and precise rehabilitation as well as minimally invasive surgical procedures.
Innovation is the cornerstone of Aitrasound® Medical Group. Based on more than twenty years of technological research and clinical validation in musculoskeletal ultrasound imaging, the company has been continuously achieving breakthroughs and expanding boundaries in the area of 3D imaging. The new brand image of Aitrasound® carries a long-term vision to use AI-empowered ultrasound imaging to help people in need. Aitrasound® Medical Group will forge ahead on a broader track, exploring medical technology solutions for better health and better life.
Ms. Mingzhu Han, CEO of the company said, “The launch of the new group brand Aitrasound® marks our upgrade from an innovative medical equipment and technology company to an integrated innovative medical technology service platform for chronic disease screening and treatment. After incorporating sports therapy as well as traditional Chinese and Western medicine approaches, we will provide precise rehabilitation and minimally invasive surgical solutions based on AI medical imaging technology for medical institutions, schools, and families. Through programs such as 3D ultrasound medical assessment, AI digital rehabilitation, and 3D minimally invasive surgical guidance, we empower medical institutions to jointly build distinctive outpatient treatment systems. Next, we will also establish an Internet hospital to make assessments and rehabilitation not limited to specific hospital settings, increase patient participation, and integrate treatment into daily life. In terms of global expansion, we will obtain US FDA Class II medical device certification in the third quarter of 2024 and officially enter the US market.”
Mr. Chibo Tang, Managing Partner of Gobi Partners, said, “We have long focused on investing in the Greater Bay Area’s companies owing independently developed original technologies and continuously facilitating them to expand application scenarios and markets. As a startup team originating from Hong Kong, Aitrasound® Medical Group combines original technology elements spanning across artificial intelligence, hard technology, and healthcare. The core team has rich experiences in commercializing technology. They utilize local advantages to expand diversified revenue sources domestically and build a Chinese original brand with distinctive products in overseas markets. We empower entrepreneurs from early to growth stages, focus on emerging industries and markets, and look forward to seeing more excellent enterprises in the Greater Bay Area making their markets in the world.”
Hashtag: #Aitrasound #AitrasoundMedicalGroup
https://www.aitrasound.com/
https://www.linkedin.com/company/aitrasound/
The issuer is solely responsible for the content of this announcement.
Aitrasound® Medical Group (Telefield Medical Imaging Limited)
Aitrasound® Medical Group is a leading provider of 3D ultrasound imaging technology, equipment and solutions.
- Its flagship product Scolioscan® is the world’s first and only ultrasonic scoliosis assessment system, filling the global technological gap in spine imaging, i.e. between radioactive X-ray imaging and inaccurate body surface contour measurement. It owns over 30 patent families with a total of more than 100 patents. Scolioscan® has been installed for clinical applications in hospitals and clinics in Europe, Australia, Mainland China, and Hong Kong, totally over 20 countries and regions. It has obtained Class II medical device certifications, including the EU CE, Australia ARTG, China NMPA, Thailand FDA and Malaysia MDA.
- The team has been collaborating with internationally renowned hospitals and universities on various clinical research and has published over 30 research papers in top international journals in fields such as orthopedics and kinesiology, ultrasound, biomedical engineering, artificial intelligence, and pattern recognition to demonstrate the accuracy and reliability of the technology as well as various clinical applications.
- The units installed with Scolioscan® include orthopedics, rehabilitation, and physical examination departments of hospitals, massage therapy department of traditional Chinese medicine hospitals , children health departments of maternity and child healthcare hospitals, work injury rehabilitation hospitals, sports rehabilitation hospitals, private orthopedic rehabilitation clinics, and traditional Chinese medicine clinics.
- Since establishment, Aitrasound® team has won numerous international and domestic innovation and entrepreneurship awards: In 2023, it is the only gold winner from Hong Kong at the Guangdong-Hong Kong-Macao Greater Bay Area High-value Patent Portfolio Competition 2023, which was organized by Guangdong intellectual Property Administration, The People’s Government of Guangzhou Municipality, Hong Kong Intellectual Property Department and Macao Economic and Technological Development Bureau. In 2022, it was the only winner in the life and health category of the inaugurating BOCHK Science and Technology Innovation Prize, which was established by the Hong Kong Alliance of Technology and Innovation (HKATI) and sponsored by the Bank of China (Hong Kong) Limited.
About Gobi Partners GBA (Gobi GBA)
Gobi Partners GBA (Gobi GBA) was established in 2016 as a part of the leading Pan-Asian venture capital platform Gobi Partners. Gobi GBA is the general partner of the Alibaba Hong Kong Entrepreneurs Fund(AEF)as well as the AEF Greater Bay Area Fund and has formed strategic partnerships with other renowned financial institutions such as HSBC and Hang Seng Bank. As of 2023, Gobi GBA has invested in over 80 startups across the Greater Bay Area and has fostered the growth of 8 unicorns including Airwallex, Amber, Animoca Brands, GoGoX, Prenetics, and more.
TPBank and Backbase Clinch ‘Best Omni-Channel Digital CX Solution’ at the Digital CX Awards 2024
The adopt-and-build approach on the Backbase Engagement Banking Platform elevated TPBank into the Top 10 banks in Vietnam within 5 years
SINGAPORE – Media OutReach Newswire – 26 April 2024 – Backbase, the global leader in Engagement Banking, in partnership with Vietnam’s Tien Phong Commercial Joint Stock Bank (TPBank), has won the ‘Best Omni-Channel Digital CX Solution’ award at The Digital CX Awards 2024. This accolade highlights TPBank’s significant strides in transforming banking experiences through omni-channel touchpoints, enabled by Backbase Engagement Banking Platform. The awards ceremony took place on 25 April 2024 in Marina Bay Sands.
Since its inception in 2012, TPBank has grown from modest beginnings to become one of Vietnam’s Top 10 banks, with a customer base of over 12 million. Driven by a unique bank development philosophy of “State of the Art – Trendy – From the Heart”, TPBank is dedicated to winning the hearts of millions through innovative banking solutions that are creative and insightful.
The Digital Banker’s panel of judges noted, “TPBank’s implementation of the Backbase Engagement Banking Platform has categorically augmented its omni-channel capabilities. Commendably, the strategic adopt and build approach enabled the Bank to completely revamp its internet and mobile banking system, migrating almost three million customers to the new platform driving growth in digitally active customers and contributing to retail business growth.”
Leveraging Backbase as their anchor platform for digital customer engagement, TPBank has strategically embraced an ‘adopt and build’ approach to develop a comprehensive end-to-end omnichannel digital platform. By building on the platform, TPBank has achieved a digital-first and customer-first omnichannel banking experience that not only accelerated their acquisition of new customers via multiple touchpoints but also reduced their cost to serve. To achieve accelerated build, TPBank trained and expanded its in-house development teams to lead ongoing customized features and UI/UX development.
The implementation of the Backbase platform at TPBank has enabled essential scalability:
- Engagement Banking Platform was launched in 9 months to nearly 3 million existing users
- Growth of active retail banking users to over 7 million within five years.
- Doubling of mobile banking transactions in 2023, with over 1 billion transactions recorded.
“Backbase has been pivotal in advancing our shift toward a digital-first, customer-centric banking model, significantly enhancing operational efficiency and service agility,” stated Mr. Nguyen Hung, CEO, TPBank. “With the Backbase Engagement Banking Platform, we’ve been able to hollow out the core to focus on modernizing customer experiences smoothly. The rate of modernization has rapidly accelerated as our in-house team of UI/UX designers are able to easily and confidently build on the platform. Today, we are developing feature launches 6 times faster, from up to 6 months to less than a month.`
Hung continued, “In addition, customer satisfaction and frictionless usage of our banking services across the omnichannel are enhanced. We have achieved 100% straight-through-process for over 200 self service online banking products and 95% reduction in downtime to just a few minutes per month. Our goal is clear—to continue to move TPBank up to become a top ten all-rounder bank in Vietnam.”
Riddhi Dutta, Regional Vice President, Asia, Backbase, remarked, “TPBank had a clear vision of the customer experience they wanted to deliver for omnichannel banking 5 years ago. They strategically adopted the Backbase Engagement Banking Platform, differentiating where it matters by building unique journeys they had envisioned. The strength of the platform lies in its ability to level the playing field for banks at any stage of their modernization journey, regardless of their age or tenure in the industry. We are grateful that TPBank believed in the platform from the outset and are proud to see them rise to the top today.”
TPBank also appeared for the first time in the Brand Finance Rankings with a brand value exceeding 425 million USD, among the Top 5 private banks with the highest brand value in Vietnam. The Vietnam Review Report Joint Stock Company (VNR) recognizes TPBank as one of the ten most prestigious Vietnamese commercial banks, and one of the four most prestigious private banks of 2023.
Hashtag: #Backbase, #digitalbanking, #engagementbanking, #retailbanking, #omnichannelbanking, #engagementbankingplatform
https://www.backbase.com
https://www.linkedin.com/company/backbase/
The issuer is solely responsible for the content of this announcement.
Backbase
Backbase is on a mission to re-architect banking around the customer.
Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.
Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 120 financial institutions around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, China Bank, EastWest Bank, HDFC Bank, JudoBank, OCB, Techcombank, and TPBank.
Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.
TPBank
Established in 2008, Tien Phong Commercial Joint Stock Bank (TPBank) inherits the strength from strong strategic shareholders at home and abroad, including DOJI Jewelry Group, FPT Technology Group, and Reinsurance Corporation. Vietnam (Vinare), SBI Ven Holding Pte. Ltd (Singapore), IFC International Finance Company (part of the World Bank) and PYN Elite Fund investment fund, with the aspiration of becoming a transparent, efficient, sustainable financial institution and bringing the best benefits to shareholders and customers.
With a solid foundation and long-term strategy, TPBank has been continuing on a journey of breakthroughs with multiple impressive milestones. By the end of 2023, total assets has increased to 356,000 billion VND, an increase of 8.5% compared to the end of 2022, with more than 22,000 billion VND charter capital. The steady increase in capital has provided a strong financial foundation. Together with risk management, this have kept TPBank’s capital adequacy ratio (CAR) according to Basel III standards at 12.4% as of 31/12/2023, which is in the leading group of the industry, upholding the principles of loan growth and capital safety.
The total number of customers grows miraculously beyond 12 million in 2023. In just 3 years, with a leading and comprehensive digital banking strategy, TPBank has attracted more than 8.6 million customers, twice the cumulative number of the previous 12 years. The proportion of CASA increased by 34%, the proportion of demand deposits increased by 34%, exceeding 47,000 billion VND. Balancing the needs for deposit growth in accordance with the needs for capital use to achieve the best efficiency, the bank’s total deposits in 2023 reaches 316,500 billion VND, an increase of nearly 9.5% and exceeding the year’s plan.
The Bank continues to uphold its position at many domestic and international prestigious awards. For the second consecutive time, TPBank ranked first in Vietnam in the list of “Strongest Banks in Asia Pacific” by The Asian Banker. TPBank appeared for the first time in the Brand Finance Rankings with a brand value exceeding 425 million USD, among the Top 5 private banks with the highest brand value in Vietnam. Vietnam Review Report Joint Stock Company (VNR) ranks TPBank as one of the 10 most prestigious Vietnamese commercial banks, and also one of the 4 most prestigious private banks of 2023.
With the brand manifesto “A deeper understanding “, TPBank puts customer “understanding” at the center of research and implementation, to build a style of top quality and service. The bank sets itself the mission of accompanying customers, constantly innovating, and applying technology to create the best and most convenient financial solutions, products and services for customers.
The Digital Banker
The Digital Banker is a globally trusted news, business intelligence and research partner to the worldwide financial services sector. Our consultants and subject matter experts provide thematic research, data driven insights and forecasts, exclusively across the global Financial Services sector.
Techcombank and Backbase Win ‘Best Digital CX Partner – SME Bank’ at the Digital CX Awards 2024
Techcombank achieves 246% growth in active digital business banking users leveraging on Backbase Engagement Banking Platform
SINGAPORE – Media OutReach Newswire – 26 April 2024 – Backbase, the global leader in Engagement Banking, and Techcombank, Vietnam’s fifth largest private bank in asset size in Vietnam, have been named joint winners of the Best Digital CX Partner – SME Bank award by The Digital Banker, for the implementation of the Backbase Engagement Banking Platform. Techcombank won the Best Digital CX Partner awards for retail banking with Backbase last year and SME Banking this year, highlighting the extensibility of the Engagement Banking Platform in creating a unified banking experience across both lines of business for Techcombank’s customers.
Techcombank’s mission statement, “Purposefully digital and meaningfully human,” underscores their commitment to help customers make better decisions easier and improve their quality of life via digitalization. Techcombank believes that business owners are also consumers at heart and has differentiated their business banking app to offer the same familiarity and simplicity as their retail banking app. To achieve that, Techcombank leveraged on the Backbase Engagement Banking Platform to recycle, re-use and re-purpose digital retail journeys, UI/UX and features they have innovated on their highly rated retail banking app to successfully launch business banking platform in 6 months. Today Techcombank Business app has a near-perfect rating of 4.9 out of 5 on the App Store and a perfect rating of 5 out of 5 on Google Play.
The Digital Banker’s panel of judges noted, “Backbase’s Engagement Banking Platform is truly empowering banks in accelerating their digital transformation and ensuring enhancement in client experience across a diverse set of digital journeys for different customer segments. Notably, this single unified platform is open and frictionless, with ready-to-go apps and its implementation at Techcombank has significantly elevated digital business banking growth and adoption for the Bank.”
The Engagement Banking Platform provides Techcombank with seamless orchestration in digital customer engagement across retail and business banking lines of business. The platform serves as a robust engine room with industrialized, composable capabilities, providing the bank with the flexibility to quickly create tailored, differentiating experiences and innovate on their own terms across all channels. Since deploying the platform in 2022, the bank saw a 246% surge in business banking users. Today, the account opening process on the business banking website has been streamlined to 30 minutes.
“Our priority was to select a platform that wouldn’t limit our creativity. By leveraging the Backbase Engagement Banking Platform, we rapidly rolled out our business banking services within six months, utilizing digital retail banking journeys we had already created. This allowed us to build humanized and highly personalized user interfaces and experiences, offering business clients the simplicity and familiarity typically seen in retail banking,” said Henry Lam, Head of Corporate Digital Banking, Techcombank.
Henry added, “The platform’s extensibility is immensely powerful, enabling us to quickly develop and deploy flexible term deposit products, local bank guarantees, and short term loan tailored to various needs. With the Engagement Banking Platform, it enables us to launch new business banking features in just over a week, driving rapid adoption and acceleration in the market. Our customer base is growing rapidly with an increase of 42,000 new digital business banking users in 2023, bringing our total to 97,000. The ability to adopt and build on the platform is a key differentiator for us and has transformed our business banking arm into a key value-driving pillar of Techcombank’s portfolio.”
Backbase’s clear documentation, robust version control, and ongoing Application Development Support (ADS) have enabled Techcombank’s accelerated build. The bank developed approximately 40 new features and journeys specifically for business banking, including the introduction of Bank Guarantee and Overdraft Online services in 2023. The platform also facilitates seamless, omnichannel access, allowing businesses to manage their finances effortlessly from any location as well as integrated financial management tools and sophisticated data analytics for business owners to use essential insights for strategic decision-making.
“Techcombank exemplifies the adopt and build capability of the Backbase Engagement Banking Platform. They have modernized their lines of business in increasingly rapid succession and agility to realize its overarching banking vision and mission,” said Riddhi Dutta, Regional Vice President, Asia, Backbase. “We are immensely proud of the bank’s success and the standards it has set for the industry.”
Techcombank would be looking to expand its digital services from SME banking to encompass micro, small, and medium enterprises (MSME) and corporate banking. This expansion is part of Techcombank’s broader ambition to provide intuitive digital experiences across all business banking sectors, contributing to its continued success and award-winning performances in digital banking.
Hashtag: #Backbase #digitalbanking #engagementbanking #retailbanking #omnichannelbanking #businessbanking #smebanking #corporatebanking #engagementbankingplatform
https://www.backbase.com
https://www.linkedin.com/company/backbase/
The issuer is solely responsible for the content of this announcement.
Backbase
Backbase is on a mission to re-archtect banking around the customer.
Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.
Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 120 financial institutions around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, China Bank, EastWest Bank, HDFC Bank, JudoBank, OCB, Techcombank, and TPBank.
Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.
Techcombank
Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is one of the largest joint stock banks in Vietnam, and a leading bank in Asia, with a vision to Change Banking, Change Lives. The Bank pursues a proven customer-centric strategy in providing a broad range of retail and corporate banking solutions and services to help financially empower its customers. Techcombank has 13.4 million retail and corporate customers, which it serves through a market-leading digital banking platform and mobile app, and an extensive network of transaction service outlets at locations across Vietnam. The Bank’s ecosystem approach, co-created through partnerships in multiple key economic sectors, adds further scale and differentiation in one of the fastest growing markets in the world. Techcombank is rated A+ by FiinRatings, Ba3 by Moody’s and BB- by S&P, which is the highest among Vietnam joint stock commercial banks.
The Digital Banker
The Digital Banker is a globally trusted news, business intelligence and research partner to the worldwide financial services sector. Our consultants and subject matter experts provide thematic research, data driven insights and forecasts, exclusively across the global Financial Services sector.
Successful Conclusion of “Study in Hong Kong” India Education Fair: Opening Doors to Global Education Opportunities

- Highlighted academic excellence and learning opportunities from eight leading government-funded universities in Hong Kong.
- Aimed to foster global collaborations and nurture future leaders across Asia Pacific.
- Offered detailed information on various opportunities from Hong Kong’s universities.
HONG KONG SAR – Media OutReach Newswire – 26 April 2024 – The “Study in Hong Kong” India Education Fair concluded successfully in New Delhi in early April, marking a significant milestone in fostering international educational collaborations and providing Indian students with insights into higher education opportunities in Hong Kong. The event, which showcased academic excellence and learning opportunities from eight leading government-funded universities in Hong Kong, attracted a diverse audience of students, parents, and educational advisors.

Organized by representatives from top-ranked Hong Kong universities, the fair engaged with students in India and provided them with comprehensive information about studying in Hong Kong. The students interacted with university representatives directly who answered their enquiries regarding various academic programmes, admission requirements, scholarship opportunities, and campus life experiences. The attendees also got the opportunity to learn about the academic excellence and research opportunities offered by Hong Kong’s universities, as well as the vibrant cultural and social experiences available in the dynamic city.
Reflecting on the success of the event, Professor Bennett YIM, Director of Undergraduate Admissions and International Student Exchange at The University of Hong Kong, commented on behalf of the event organizing committee, “We are delighted by the overwhelming response to the ‘Study in Hong Kong’ India Education Fair. It was truly inspiring to witness the enthusiasm and curiosity of Indian students and their families as they explored the diverse educational opportunities available in Hong Kong. We are confident that this event has opened doors to exciting possibilities for future collaborations and academic endeavors.”

Representatives from participating universities provided detailed information on support services for international students. While making attendees aware of the higher education landscape of Hong Kong, the event also fostered meaningful connections between students and representatives from top-ranked universities.
The success of the “Study in Hong Kong” India Education Fair underscores the growing interest among Indian students in pursuing higher education in Hong Kong, which has emerged as a leading destination for academic and professional development. Empowered with the valuable insights offered during the event, students and parents will now be able to make the right decision about their plans to study in Hong Kong.
Hashtag: #StudyinHongKong #UniversityGrantsCommittee #CityUniversityofHongKong #HongKongBaptistUniversity #LingnanUniversity #TheChineseUniversityofHongKong #TheEducationUniversityofHongKong #TheHongKongPolytechnicUniversity #TheHongKongUniversityofScienceandTechnology #TheUniversityofHongKong
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About “Study in Hong Kong”
With the support of the University Grants Committee (UGC) of the Hong Kong Special Administrative Region Government, the HUCOM Standing Committee for Internationalization (HUCOMSCI) has initiated a campaign entitled “Study in Hong Kong” which aims at expanding non-local student enrollment in emerging markets for the eight UGC-funded universities in the city. Through organizing visits and education fairs across the world, we are committed to building connections with government officials, local schools, parents, and students, with the goal of recruiting more outstanding international students to choose Hong Kong as a destination for higher education.
In the current year, the trip to India provides a platform for university representatives to greet talented Indian students and offer them an opportunity to learn about the academic excellence and diverse resources available at Hong Kong’s leading universities. By fostering connections and showcasing the advantages of studying in Hong Kong, HUCOMSCI seeks to strengthen the bonds between the participating institutions and the Indian student community.