HKSTP Takes Data Ecosystem Collaboration to New Era at Hong Kong FinTech Week 2022

(Hong Kong, 1 November 2022) – Hong Kong Science and Technology Parks Corporation (HKSTP) is creating a seamless data ecosystem that enables city-wide data collaboration to accelerate fintech developments and adoption across Hong Kong for establishing a long-term digital economy.

At Hong Kong FinTech Week 2022, HKSTP shared the latest developments of its STP Platform and partnerships with industry leaders around data collaboration. This creates the critical data sharing capabilities and foundations for broader co-creation of city-wide fintech solutions and industry innovation in the Virtual Lab.

HKSTP’s STP Platform is a data collaboration initiative featuring a unique city-wide Virtual Lab providing common and transparent data-centric environments that accommodate data, algorithms and knowledge sharing between industries, developers, researchers while protecting data ownership and privacy. By growing the network of participating parties, fintech application development can be accelerated, and demonstrated for widespread and successful adoption in the city.

Albert Wong, CEO, HKSTP, said: “The opportunity for Hong Kong to lead in fintech is very real and HKSTP is dedicated to fostering a vibrant fintech ecosystem by providing robust platforms for cross-industry data collaboration, while unlocking the global opportunities for innovators. In line with Hong Kong FinTech Week’s theme of ‘pushing boundaries, reaping benefits’, HKSTP is going beyond borders in our signature Elevator Pitch Competition, EPiC 2023, which calls on global fintech startups to join our mission to identify future leaders in a new era of innovations.”

Dr Crystal Fok, Head of STP Platform, HKSTP, said: “We are pushing the boundaries of financial service innovation by exploring the full potential of open finance and open API data collaboration via the Virtual Lab. HKSTP is building a network of corporate partners, fintech pioneers and key leaders, to grow the city’s open data innovation and technology ecosystem to pave the way for Hong Kong’s future digital economy.”

Fok spoke alongside other industry thought leaders at Hong Kong FinTech Week 2022 to discuss the wider potential of cross-industry data collaboration. She moderated and joined panel discussions sessions on the topics of: “Dare to Innovate: the Power of Digital Co-creation”, “Forming a Seamless Data Ecosystem” and “From Open API to Open Finance – Enabling Cross-IndustryCollaboration” which featured financial sector leaders including Allianz Global Corporate & Specialty SE, China Construction Bank (Asia), DBS Bank (HK), FWD Insurance, Hang Seng Bank, HSBC, Standard Chartered as well as fintech startups sharing their views on effective data collaboration.

HKSTP is also hosting a pavilion of 40 fintech startups at the Hong Kong FinTech Week exhibition to showcase their innovations under the theme of ‘Cross-Industry Data Collaboration”. Fintech companies from the Hong Kong Science Park on show include (For the full list of participated companies, please refer to Appendix 1): 

• Fano Labs - Language AI for RegTech & WealthTech
• Fusion Bank Limited -- Building an ecosystem of Smart Financial Services
• Nium Limited – fintech unicorn connecting consumers, corporations, and financial institutions to global payment infrastructure through a single API for fast, low-cost international transfers
• Asia Top Loyalty Limited -- provides a convenient and affordable consumer coupon platform for merchants and partnersFreeD Group - AI digital and big data solutions combine services, content, eCommerce, and consumer data into one database
• FreightAmigo – one-stop supply chain of finance and eMarketPlace

HKSTP is also running a Virtual Platform at Hong Kong FinTech Week to provide aspiring fintech entrepreneurs with insights and knowledge on taking their financial innovation to success. The Virtual Platform will open during 31 October to 31 December 2022 featuring four master classes and 40 virtual booths for visitors to connect and interact in knowledge exchange.

Appendix 1 - Full list of participated companies