Marquee investors like Warren Buffet, Jack Ma, Masayoshi Son are aggressively investing in FinTech ecosystem and fintech startup.

And the reason it has happened is just one: 10 years ago, the dream of every person after completing the Master's in finance, was to get a job and private equity or hedge fund or investment banking. Now, it is not the case, every person who graduates or comes out of masters wants to get into startup ecosystem, or want to start a new startup.

It's interesting, you're kind of tying the stories together between India and Canada. But yeah, a lot of these alternative lenders don't have distribution, right? They have good products, but it's very hard for them to access new traffic, and they can get new traffic but a lot of that traffic may be absolutely terrible quality. So by partnering with us, we're able to drive traffic to them that's meaningful, you know, we do a lot of the pre qualification. So we cover off costs of credit pulls and things like that. And by the time we send it to them, you know, the goal is to have about an 80% chance of them converting with that lender.

So their cost of underwriting is lower, they're getting the lead flow that they want to get. And it's efficient, right? They don't need to do any marketing, their cost of acquisition is predictable. They pay us a per-funded fee. So again, predictable, you don't have to pay per lead. But yeah, they want a distribution. And we could provide the distribution.

I can answer your question as a consumer. And in general, I can also share my viewpoint on the whole market. No doubt Hong Kong is a very competitive market, the credit card issuers are facing strong competition. For myself, I think I have more than five cards but in general, I will focus on one or two cards that're my major transaction medium. Why I want to just focus on using one or two cards is because of the benefits, because of the discounts, because of the cashback. You can go to different shops or restaurants, you have discounts, you have rebates and then on different purchases, you have also other privileges. That's the major motivation. I think, in general that's true for other consumers in Hong Kong.

And on the other hand, as you're said because they're always new cards coming out with new features, especially the welcome gift, you spend a few $1,000 and then you can get some cash coupon or you can get some premium or whatever - then that will motivate you to to apply for new card, but after that it will just sit there. I think that's a very normal way of life.