Tencent Leverages Cutting-Edge Technology and Partnerships to Drive a New Era of FinTech Innovation.
Tencent wins the SFF FinTech Excellence 2024 awards, announces key partnerships with industry leaders, and unveils innovative fintech solutions.
SINGAPORE, Nov. 8, 2024 /PRNewswire/ — At the Singapore FinTech Festival (SFF) 2024, the world’s largest Internet and technology hub, Tencenthas pushed the boundaries of innovation in fintech and digital transformation through numerous discussions, key collaboration events, and developing future-proof solutions.
Dowson Tong, Executive Vice President and General Manager, Cloud and Smart Industries Group, Tencent, speaking on “AI and Cloud: Powering Tomorrow’s Economy” in a panel discussion during the Singapore FinTech Festival 2024.
Joining thousands of attendees at the annual event, Tencent demonstrated how it leverages decades of consumer and enterprise technology expertise to partner with industry players, exploit opportunities in the financial industry, and deliver innovative business solutions that promote sustainable growth for financial institutions and regional partners in the region.
“Building sustainable and advanced infrastructure is critical for financial institutions that want to thrive in the digital age,” said Dowson Tong, Senior Vice President and Chief Executive Officer, Cloud and Smart Industries Group. Tencentduring the event “AI and the Cloud: Powering the Economies of Tomorrow” the main discussion of fire. “AI-powered tools such as advanced authentication and fraud detection require a reliable infrastructure to operate effectively, and promote a safer financial environment. Furthermore, with innovative methods such as video , content, super app and AI, on a powerful Cloud. stack, we can drive meaningful innovation and unlock opportunities for change in industries, through the growing service of financial services.”
The global AI fintech market is expected to grow from USD 13,515.7 million in 2024 at USD 58,701.4 million by 2034, showing a strong CAGR of 15.9%. The keynote, which opened the three-day event, reflects this growing demand from consumers and businesses alike in the applications and capabilities of cloud and AI solutions in the fintech field. By using AI-powered tools like Digital Humans, Super-App-as-a-Service, highly accurate eKYC, highly distributed TDSQL database, and Risk Management Engine, Tencent Financial cloud technologies have successfully helped more than 10,000 businesses in 20 countries around the world.
Tencent wins Thematic – AI, Quantum Award at SFF FinTech Excellence Awards 2024
Tencent also won the Thematic Award – AI, Quantum Champion Award under the SFF FinTech Excellence 2024 awards, which highlights important initiatives that use new technologies to change industry trends and improve the delivery of financial services.
“This approval underscores Tencent’s commitment to promoting secure, user-friendly approaches to digital payments. Our latest innovations demonstrate our commitment to improving everyday convenience with seamless solutions limit and reliable, while maintaining the highest standards of privacy and data protection a a testament to our continued efforts to bring revolutionary technology to consumers and businesses alike,” said Xia Kai, Head of Tencent Palm Product Production.
The SFF exhibition marks Tencent’s debut of its advanced palm recognition technology, Tencent Palm, by Singapore. This was fully revealed Tencent and Visa’s partnership to introduce palm recognition technology for digital payments. The service will be introduced by Visa, and cardholders from participating banks Singaporeincluding DBS, OCBC and UOB, to be part of this pilot program.
This collaboration was one of the many insightful discussions with industry leaders and environmental partners that took place at the event, which included specials. Tencent-led workshops at the Elevandi Insights Forum, and various meetings represented across Tencent’s businesses such as Tencent Cloud, Tenpay Global, and Weixin Pay.
Daniel Hong, Vice President of Tencent Financial Technology, speaking at the “The Asian Decade: Leading global financial services” panel.
Daniel HongVice President of Tencent Financial Technology, highlighted List of Weixin Pay New ways to improve access to payments, particularly by reducing costs for small and medium-sized merchants as we advance cross-border payment integration.
Wenhui Yang, General Manager of Tencent Financial Technology Asia Pacific and CEO of Tenpay Global (Singapore), speaking on “Protecting consumers: The role of technology in a secure payment system”
Wenhui Yang, General Manager at Tencent Financial Technology Asia Pacific and CEO of Tenpay Global (Singapore)it also discusses the role of AI-powered risk management strategies in protecting users from fraud accidents and highlight the importance of technology to ensure secure payment methods.
New technology like Tencent Palm, Tencent Cloud AI Digital Human, and Tenpay Global Remittance were on display Tencent booth’s interactive areas, which received the main representatives from the Financial Authority of Singapore (MAS), Bank of Thailand (BoT), and more.
“Customer behavior and expectations have changed significantly due to the proliferation of mobile phones and other available technologies. Financial institutions must now expand their online services and reinvent their business processes, to meet the needs of anytime and anywhere services. As we move towards a future of accessible and inclusive financial services, we hope that our collective efforts will will help create a safe and innovative digital environment for the industry,” concluded Tong.
About Tencent
Tencent is a leading global internet and technology company that creates innovative products and services to improve people’s lives around the world.
Our communication and social services connect more than a billion people around the world, helping them stay in touch with friends and family, get transportation, pay for everyday needs, and even have fun. Our financial technology business covers payments, credit, wealth management and insurance, while supporting the business growth of our partners and enabling their digital development through FinTech and other services businesses. We also publish some of the world’s most popular video games and other premium digital content, fueling the entertainment experience of people around the world.
Tencent was established by Shenzhen, Chinain 1998, and is listed on the Main Board of the Stock Exchange Hong Kong since 2004.
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