Advance Awards FinTech Category Finalist
Simon Loong is one of the most successful fintech entrepreneurs and thought leaders in Asia. Simon has devoted himself to innovating the financial services industry with technology, advocating fintech development and financial inclusion in the region. He is the Founder and Group CEO of WeLab – a leading fintech company with 50 million users in Hong Kong, Mainland China and Indonesia. In 2013, Simon co-founded WeLab with a fellow University of Sydney alumnus, Kelly Wong. At that time, fintech was still in its infancy and going 100% online for banking services was unfathomable. With the vision to promote financial inclusion with technology regionally, WeLab now operates one of the largest digital consumer finance businesses, a pan-Asia digital bank and a leading B2B fintech enterprise solutions business. Under Simon’s leadership, WeLab is well recognized globally, including ranking #2 on the Financial Times “2020 Asia-Pacific High Growth Companies”, #11 as the most disruptive companies in the world by CNBC on the “2020 CNBC Disruptor 50” list.
As the Asia fintech thought leader, Simon has received numerous awards in recognizing his achievement, including the “Vice Chancellor’s Achievement Awards” by The University of Sydney. He was also named as “one of the 20 people shaping Hong Kong’s future” in the next 20 years by a leading Chinese media outlet. Simon is frequently invited to share his insights on international news outlets, e.g. Bloomberg and CNBC and at marquee industry conferences. He also serves on influential public and private sector committees, sharing his experiences to drive the proliferation of the fintech ecosystem and financial inclusion.
Simon is a strong believer in using technology to give back to the community, where actions should represent something beyond the interest of business opportunities. Last year, WeLab stepped up to offer COVID relief measures in the form of an interest-free loan to support the people of Hong Kong during a difficult period while the government was still processing the COVID subsidies. The program provided relief but also facilitated spending, helping to stimulate the economic recovery with the multiplier effect. This generated much-needed positivity as local residents were able to effectively receive the subsidy 5 months ahead of schedule.
Prior to founding WeLab, Simon held senior roles in Citibank and Standard Chartered. In addition to his Bachelor of Commerce from the University of Sydney, Simon holds a Master of Science in Management (MSM) from Stanford Graduate School of Business. Simon is also a Fellow Certified Public Accountant (FCPA) of CPA Australia.
“Live in the future, then build what’s missing. By combining the best of both worlds – fintech fuses together the establishment of trust and credibility of a bank with the agility and advancement of technology to make the present just that bit more interesting.”