Hong Kong Economic Journal StartUp Beat – 09 December 2021
Read full article: http://startupbeat.hkej.com/?p=112689
Wizpresso Wins Prestigious Awards at the Hong Kong ICT Awards 2021
Hong Kong – Wizpresso, a trailblazer in regulatory technology, proudly announces its success at the 2021 Hong Kong ICT Awards, where it received multiple accolades, including the prestigious Grand Award for Financial Technology. This significant recognition highlights Wizpresso’s innovative contributions to the fintech landscape, particularly through its advanced solutions for compliance verification.
At the awards ceremony, hosted by the Office of the Government Chief Information Officer (OGCIO), Wizpresso was honored with the Gold Award in the Financial Technology (RegTech and Risk Management) category for its cutting-edge product, “Factify.” This tool employs advanced Natural Language Processing (NLP) technology to streamline the verification of Initial Public Offering (IPO) documents, resulting in time savings of up to 95% compared to traditional methods.
Calvin Cheng, Founder and CEO of Wizpresso, stated, “We are thrilled to be recognized among such esteemed peers in the industry. This award not only validates our hard work but also reinforces our commitment to driving innovation in regulatory compliance. Our solutions are designed to empower financial institutions and legal professionals, enhancing their efficiency and accuracy in navigating complex regulatory environments.”
The recent success of Wizpresso comes amid a burgeoning interest in technology and innovation in Hong Kong, particularly in the wake of the COVID-19 pandemic. The Chief Executive of Cyberport, Peter Yan, noted that the pandemic has accelerated the focus on tech startups, particularly in e-commerce, health tech, and education sectors. Cheng echoed this sentiment, emphasizing the growing demand for efficient compliance tools in an evolving market.
Wizpresso’s achievements reflect the broader success of startups within the Cyberport community, which collectively won 32 awards across various categories at this year’s ICT Awards. This underscores the vibrant and resilient nature of Hong Kong’s tech ecosystem, which continues to thrive even during challenging times.
As Wizpresso looks to the future, it aims to expand its offerings beyond IPO document verification to include annual reports and ESG (Environmental, Social, and Governance) reporting, further solidifying its role as a leader in regulatory technology.