Asian fintech company WeLab has formed a strategic partnership with Google to drive AI-powered banking solutions across the region.
By utilizing Google AI models and Google Cloud infrastructure, WeLab aims to enhance personalization, customer engagement, foreign exchange, lending, and wealth management services for its customers.
WeLab’s CEO and founder, Simon Loong, noted that internal data predicts a 42.5% increase in efficiency over the next five years. The company has already leveraged Google Cloud technology in Indonesia, marking another step toward expansion in Asia. WeLab aspires to reach 50 million users with AI-driven financial services by 2032.
With Google’s support, WeLab will develop AI agents to deliver financial insights and investment guidance. Additionally, Google will provide training in AI engineering and leadership to WeLab’s workforce, fostering innovation through human-driven AI research and development.
Michael Yue, managing director and general manager at Google Hong Kong, emphasized the significant opportunities AI presents for Hong Kong’s fintech industry, expressing pride in supporting innovators like WeLab as they create secure, personalized services and drive their growth in Hong Kong and the broader Asia-Pacific region.
In April 2025, WeLab also partnered with Hong Kong Investment Corporation Limited (HKIC) to promote AI innovation and enhance financial inclusion across Asia.