Tencent Leverages Cutting-Edge Technology and Partnerships to Lead a New Era of FinTech Innovation

Tencent wins at the SFF FinTech Excellence Awards 2024, announces key partnerships with industry leaders, and unveils new fintech solutions.

SINGAPORE, Nov. 8, 2024 /PRNewswire/ -- At the Singapore FinTech Festival (SFF) 2024, global Internet and technology giant, Tencent, pushed the boundaries of innovation in fintech and digital transformation with a host of engagements, partnership milestones, and the unveiling of future-ready solutions.

Joining thousands of attendees at the annual event, Tencent showcased how it is leveraging decades of consumer and enterprise technology expertise to collaborate with industry players, tapping into opportunities in the financial industry, and delivering innovative business solutions that foster sustainable growth for financial institutions and ecosystem partners in the region.

"Building a resilient and agile infrastructure is essential for financial institutions seeking to thrive in the digital era," said Dowson Tong, Senior Executive Vice President & Chief Executive Officer, Cloud and Smart Industries Group, Tencent, during the event's "AI and Cloud: Powering the Economies of Tomorrow" keynote fireside chat. "AI-powered tools like advanced authentication and fraud detection require a foundation of reliable infrastructure to operate effectively, and foster a more secure automated financial environment. In addition, by leveraging trends like video, content, super app and AI, atop a robust Cloud stack, we can drive meaningful innovation and unlock transformative opportunities across industries, with a growing financial services ecosystem."

The global AI in fintech market is expected to expand from USD 13,515.7 million in 2024 to USD 58,701.4 million by 2034, reflecting a robust CAGR of 15.9%. The keynote fireside, which opened the three-day event reflects this growing demand from consumers and enterprises alike in the applications and potential of cloud and AI solutions in the field of fintech. By leveraging AI-driven tools like Digital Humans, Super-App-as-a-Service, ultra-high accuracy eKYC, high performance distributed database TDSQL, and Risk Control Engine, Tencent financial cloud technologies have successfully enabled over 10,000 enterprises across 20 countries across the globe.

Tencent also clinched the Thematic – AI, Quantum Champion Award under the SFF FinTech Excellence Awards 2024, which spotlights groundbreaking initiatives that harness new technologies to revolutionise industry practices and enhance financial services delivery.

"This accolade underscores Tencent's commitment to advancing secure, user-friendly innovations in digital payments. Our latest innovations reflects our dedication to enhancing everyday convenience through seamless and reliable solutions, while maintaining the highest standards of privacy and data security. This is a testament to our ongoing efforts to bring transformative technology to consumers and businesses alike," said Xia Kai, Head of Tencent Palm Product Innovation.

The showcase at SFF marks Tencent's debut of its advanced palm recognition technology, Tencent Palm, in Singapore. This was unveiled through Tencent and Visa's partnership to introduce the palm recognition technology for digital payments. The service will be rolled out by Visa, with cardholders from participating banks in Singapore, including DBS, OCBC and UOB, being a part of this pilot programme.

This partnership was one of many insightful engagements with industry leaders and ecosystem partners that took place at the festival, which included exclusive Tencent-led workshops at the Elevandi Insights Forum, and various panel sessions represented across Tencent's businesses such as Tencent Cloud, Tenpay Global, and Weixin Pay.

Daniel Hong, Vice President of Tencent Financial Technology, highlighted Weixin Pay's innovations in enhancing payment accessibility, particularly by reducing costs for small and micro merchants while advancing cross-border payment interconnectivity.

Wenhui Yang, General Manager at Tencent Financial Technology Asia Pacific and CEO of Tenpay Global (Singapore), also discussed the role of AI-powered risk control strategies in protecting users from fraud risks and spotlighted the importance of technology in ensuring secure payment systems.

Innovative technologies like Tencent Palm, Tencent Cloud AI Digital Human, and Tenpay Global Remittance were on display at the Tencent booth's interactive areas, which welcomed key representatives from the Monetary Authority of Singapore (MAS), Bank of Thailand (BoT), and more.

"Consumer behavior and expectations have vastly changed due to the ubiquity of mobile phones and other accessible technologies. Financial institutions must now expand their online services and re-architect their business systems, to meet the needs for services anytime anywhere, and the ever-increasing volume of online transactions. As we advance toward a future of accessible and inclusive financial services, we are hopeful that our collective efforts will help shape a secure and innovative digital ecosystem for the industry," concluded Tong.

About Tencent

Tencent is a world-leading internet and technology company that develops innovative products and services to improve the quality of life of people around the world.

Our communication and social services connect more than one billion people around the world, helping them to keep in touch with friends and family, access transportation, pay for daily necessities, and even be entertained. Our financial technology business covers payment, credit, wealth management and insurance sectors, as we support our partners' business growth and assist their digital upgrade through FinTech and other enterprise services. We also publish some of the world's most popular video games and other high-quality digital content, enriching interactive entertainment experiences for people around the globe.

Tencent was founded in Shenzhen, China, in 1998, and has been listed on the Main Board of the Stock Exchange of Hong Kong since 2004.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Tencent Leverages Cutting-Edge Technology and Partnerships to Lead a New Era of FinTech Innovation

Tencent Leverages Cutting-Edge Technology and Partnerships to Lead a New Era of FinTech Innovation

Tencent Leverages Cutting-Edge Technology and Partnerships to Lead a New Era of FinTech Innovation

Tencent Leverages Cutting-Edge Technology and Partnerships to Lead a New Era of FinTech Innovation

RIYADH, Saudi Arabia, Dec. 6, 2024 /PRNewswire/ -- In the heart of Riyadh, the Saudi Manuscripts Exhibition continues to shine as a global cultural icon, highlighting a human legacy that extends for over 1200 years. It combines the essence of history with the spirit of modernity to present the world with a dazzling image of Saudi Arabia's commitment to preserving human cultural heritage and its active role in enhancing civilizational dialogue.

Organized by the Library Authority under the theme "Stories Told for a Lasting Legacy," the exhibition serves as a global platform for dialogue and innovation. It engages visitors and researchers through 22 workshops and 30 discussion sessions that showcase the latest methods in manuscript preservation and restoration. This opens new avenues for collaboration among experts from around the world.

The Saudi Manuscripts Exhibition is a dazzling window for culture enthusiasts from all over the world, blending authenticity and creativity. It offers an exceptional experience that connects the past with the present in a manner that respects tradition while looking forward to the future. It stands as a testament to the richness and universality of human heritage, displaying over 2000 rare manuscripts. These include "Diwan Al-Ahnaf Al-Akbari," over 800 years old, and "Unwan Al-Majd fi Tarikh Najd," which narrates significant phases of the cultural and intellectual history of the Arabian Peninsula. Additionally, it features copies of the Quran which are over 1200 years old, as well as scientific, medical, and astronomical manuscripts that were circulated during the First Saudi State.

The exhibition aims to highlight the Kingdom's leading role in preserving and protecting cultural heritage, to enhance awareness of its civilizational value, and to illuminate the efforts of the Library Authority in employing technology to serve manuscripts and open new channels of communication with specialized international institutions.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Saudi Manuscripts Exhibition: A Cultural Icon Introducing the World to a Heritage Spanning Over a Millennium