HKSTP Drives Cross-Industry Collaboration and Data Ecosystem Development at Hong Kong FinTech Week 2023

(Hong Kong, 3 November 2023) – Hong Kong Science and Technology Parks Corporation (HKSTP) demonstrates 30 tech innovations from 2 November to 3 November 2023, presenting an array of FinTech solutions at Hong Kong FinTech Week 2023. This is highlighted by 30 park companies across various sectors such as AI, digital asset/Web3, Environmental, Social, and Governance (ESG), regulatory technology (RegTech), engaging in over 100 business matching engagements with renowned major corporates from banking, financial services and insurance. 

In line with this year’s Hong Kong FinTech Week 2023 theme of “FinTech Redefined”, HKSTP is fostering cross-industry collaboration on business and data at the HKSTP Pavilion. HKSTP is committed to sparking collaboration and partnerships by demonstrating the growing strength and readiness of Hong Kong’s FinTech innovation for market adoption. In addition, HKSTP highlights Hong Kong’s growing Open API ecosystem which is transforming financial service experiences. HKSTP is working closely with Hong Kong Monetary Authority (HKMA) and Insurance Authority (IA) in encouraging banking and insurance stakeholders to collaborate for digital innovation through the use of APIs. With its worldclass innovation and technology (I&T) ecosystem, HKSTP is on a mission to propel Hong Kong’s FinTech future and realise the city’s vision of a seamless digital economy.  

The HKSTP Pavilion is also offering up-and-coming FinTechs the opportunity to join HKSTP’s annual flagship startup event – Elevator Pitch Competition 2024 (EPiC 2024), a global pitching competition, which will take place across four global cities. All applicants of EPiC 2024 will have an opportunity to seek investment from HKSTP Corporate Venture Fund up to US$5 million. The competition also offers a total of US$240,000 in cash prizes, unrivalled business matching and funding opportunities, plus the ideal springboard to huge market opportunities in Mainland China, across Asia and beyond.

Albert Wong, CEO, HKSTP, said: “For FinTech to truly flourish, there must be cross-industry collaboration, co-creation and co-innovation. HKSTP is cultivating our park companies to commercialise their FinTech solutions from R&D results to market adoption. HKSTP’s world-class I&T ecosystem is enabling FinTech innovators and pioneers to collaborate for global success, shaping the future of FinTech and advancing Hong Kong’s digital economy.”   

Eric Or, Head of Partnerships, HKSTP, said: “Hong Kong FinTech Week 2023 has been the ideal platform for HKSTP to provide new opportunities for business matching across the banking and finance sectors, with innovators engaging in over 100 business matching activities. It strongly demonstrates the power of collaboration and partnership potential. We are empowering park companies to collaborate with enterprises and corporate partners to boost the adoption of FinTech solutions in the market.”

Dr Crystal Fok, Head of STP Platform, HKSTP, said: “Hong Kong Fintech Week 2023 is a show of strength for Hong Kong’s fast-growing FinTech ecosystem. HKSTP is determined to build the foundations of Open Finance with regulators as well as banking and enterprises, to nurture an Open API ecosystem for driving business transformation. We are integrating data and technology to create diverse opportunities for cross-industry data collaboration, to unlock worldwide opportunities for local and international innovators to co-innovate, transform, and create new values.”

At Hong Kong FinTech Week 2023, financial sector leaders and FinTech innovators also shared insights during HKSTP-hosted discussions. Dr Crystal Fok, Head of STP Platform, HKSTP, moderated a panel discussion on “Open API Revolution: Disrupting Traditional Business Models and Unleashing New Business Opportunities in the Financial Industry”, which featured business leaders from Zurich Insurance (Hong Kong), Citibank (Hong Kong) and Shanghai Commercial Bank discussing how Open APIs are used within their businesses.  

Another panel discussion was moderated by Eric Or, Head of Partnerships, HKSTP, on “From Data Silos to Business Synergies: Open Finance Opportunities for industries within and beyond Financial Services”, which featured business leaders from FWD Life Insurance, Hang Seng Bank and UMP Healthcare Innovation and Incubation, highlighting open data adoption and their impact.  

For the full list of 30 participating park companies, please refer to Appendix 1. 

Appendix 1 - Full list of participated park companies: