Driving a New Era of Regulatory Technology

Portugal tech company Aereve utilises patented regulatory technology (RegTech) to reduce errors in recognising non-Latin based characters.

 

 

As the world becomes more connected, the limitations of Latin-based methodology to address the nuances of Asian languages become more pronounced. Aereve Co-founder and CEO Andre Leung envisioned being able to efficiently and accurately recognise different Chinese names and characters with the same romanised spelling. The startup’s strongest asset is revolutionary technology based on native-to-native capabilities rather than translation and fuzzy logic that may be laden with errors. In this regard, it helps local and global enterprises grow their businesses by enhancing the efficiency and effectiveness of risk management and regulatory compliance. 

Hong Kong as East-meets-West Gateway 

Leung takes pride in Aereve being able to provide a one-stop shop for analytics that blend east and west methods. With offices in Madrid, Hong Kong and Zhuhai, the company taps into its East-meets-West strengths. “Hong Kong is unique because it is a super-connector,” Leung asserted. “One country, two systems provides special privileges. The city’s autonomous policy allows us to address domestic FinTech needs. Our history means that we understand both traditional and simplified Chinese along with English. Hong Kong is really a gateway to Greater China.” 

Aereve’s Hong Kong office is focused on research and development (R&D), along with sales and technical support. Leung plans to double the Hong Kong staff count in the coming two years with expansion of his sales, marketing, R&D and customer service teams. He also sees expansion into Thailand to tackle Southeast Asian languages. “As I am a distinguished alumnus of Kellogg-Hong Kong University of Science and Technology Executive MBA in Technology and Innovation, I have a good network with its HKUST alumni and graduates,” Leung said. “They are exceptionally high quality talent, with both business and technology acumen. I look for talent with analytical skills. Many Hong Kong people are smart in mathematics and great for FinTech development.” 

Building Strong Partnerships

As a Cyberport incubatee, Aereve’s patented technology has been showcased with a leading banking institute on Hong Kong Monetary Authority’s website as a case study. The industry recognition was further enhanced by two other financial giants’ subscription agreement with Aereve’s anti-money laundering (AML) and electronic know your customer (eKYC) solutions for regulatory compliance. The company recently won InvestHK’s Hong Kong FinTech Week Global Fast Track 2023 in the ESG Vertical for its proposition to integrate its products with China National Blockchain, Xinghuo BIF and other digital finance platforms’ infrastructure. The accolades and strong client base bodes well for its growth in tandem with the FinTech industry and different levels of the Chinese government. 

Leung credits InvestHK with providing exposure to the global market and connecting Aereve with new clients. He also loves living in the city: “Hong Kong is a friendly place for expats. It is vibrant — bustling during the weekday and a paradise on weekends. Just a stone’s throw away from the city centre, Hong Kong’s spectacular outdoors offers an array of adventures to us. The city makes it easy to build a career and raise a family at the same time.”