Macau five-year plan to diversify economy, boost fintech

Happen, formerly LendingClub, is evolving into a full-service digital bank that uses AI and its vast proprietary data to improve underwriting, funding efficiency, and loan performance, targeting a high-quality customer base known as the “motivated middle.” Its bank charter provides access to low-cost deposits and the flexibility to sell loans to institutions or hold them on its balance sheet, though the stock trades at a valuation discount relative to peers despite strong growth potential. In Macau, the government unveiled a five-year economic plan to broaden beyond gaming by expanding modern finance, digital currency adoption, and cross-border payment systems, aiming for non-gaming sectors to account for about 60% of GDP by 2030. The policy highlights include a unified settlement system and trials for an official digital currency, the e-MOP, as part of a broader financial modernization push. Hong Kong fintech expert Henry Chen argues that fintech’s value lies in reducing friction, delivering clear workflows, accessible language, and solving real problems rather than adding complexity. Together, these developments reflect a broader shift toward user-centered fintech innovation and systemic modernization, from AI-powered lending models to digital currencies and cross-border payment infrastructure.