(Hong Kong, 17 July, 2024) - Hang Seng Bank (Hang Seng) and Hong Kong Science and Technology Parks Corporation (HKSTP) are proud to announce the successful completion of the inaugural cohort of the ‘Living Lab for the Branch of the Future’ programme (the “Programme”). This collaboration aims to co-develop digital banking solutions within Hang Seng’s branch network, leveraging the Bank’s market insights and operational experience to foster real-world innovation.
The Programme attracted over 50 applications from various innovation companies. The selected solution is a state-of-the-art digital concierge system, co-developed by Hang Seng, NCS (a leading IT service provider), and Asiabots (a Hong Kong startup). This pioneering pilot solution, now integrated into Hang Seng’s Tsim Sha Tsui Branch, combines Asiabots’ Natural Language Processing (NLP) and Text-to-Speech (TTS) technologies with NCS’s expertise and digital Ambassador technology. The system addresses customer inquiries and supports in-branch customer assistance, reinforcing the Bank’s commitment to service excellence.
Gilbert Lee, Head of Strategy and Planning and Chief of Staff to Chief Executive at Hang Seng Bank said: "Hang Seng has always been a strong supporter of Hong Kong's innovation and technology development. Through the ‘Living Lab for the Branch of the Future’ programme, we collaborate with innovation companies in an actual bank branch to co-create digital services that enhance customer experience. The programme is mutually beneficial to Hang Seng, innovation companies, and our clients, demonstrating great potential of the collaboration.”
Aldous Mak, Chief Financial Officer of HKSTP, commented on the collaboration: “Our collaboration with Hang Seng Bank elevates the innovation ecosystem to new heights, providing unparalleled support to startups and corporations throughout their innovation endeavours. Initiatives like the ‘Living Lab for the Branch of the Future’ programmes are reshaping the financial services industry, expediting the growth of AI and fintech expertise within the city, and solidifying Hong Kong’s reputation as a global innovation and technology hub.”
Theodore Mak, Head of Retail Distribution at Hang Seng Bank said: “As a customer-centric local bank in Hong Kong, Hang Seng continues to enhance digital capabilities at our branches to provide seamless online and offline integration services. We are glad to have this opportunity to collaborate with HKSTP and local startups. The solution, developed with their expertise, is integrated into our branch to test the market, and bring innovative experiences to customers.”
The Programme is structured into two cohorts. With the first cohort now completed, the second cohort will focus on ‘Age-friendly Tech Services’, ensuring the digitisation of financial services is accessible to all customer demographics, thereby promoting digital and financial inclusivity.
