This is to mainly measure acquisition rate of FinTech companies in Hong Kong.
Business Performance sub-index, measured by FinTech customer adoption rate and revenue, has risen by 6.1% since the previous year. It also has the highest expected growth rate (16.1%) out of the 4 sub-indices. This indicates that current FinTech businesses are optimistic with regards to their performance, which might be due to the belief that the Hong Kong economy will soon recover from the COVID-19 pandemic. The fact that COVID-19 has motivated the development of technology solutions could also have led to such an uptrend. According to the survey, WealthTech, E-payment and digital banking, as well as Blockchain and Cryptocurrency sectors have the largest contribution to the increase of this sub-index.
According to the results of the questionnaire survey, nearly half of the top 10 companies with the highest revenue growth belong to the wealth technology industry (the percentage change in revenue from financial technology solutions or services). Possible factors include increased industry demand and good business strategies to promote the success of start-ups.