Accelerated fintech adoption and growing fintech network is a show of strength for Hong Kong’s fintech potential
03 Nov 2020
HKSTP hosted a featured panel discussion in the Hong Kong Channel track at Hong Kong FinTech Week 2020. Hang Seng Bank’s Chief Operating Officer, Eunice Chan joined HKSTP’s Chief Corporate Development Officer, Eugene Hsia, and Head of Electronics and ICT Clusters, Ir Peter Yeung, for the panel session on “The Future of Fin+Tech Collaboration”.
HKSTP fintech companies also shared their views on growing fintech adoption during another HKSTP-hosted panel discussion, “Fintech and the New Normal”, broadcast under the FinTech Studio track at Hong Kong FinTech Week.
(Hong Kong, 3 November 2020) – Hong Kong Science and Technology Parks Corporation (HKSTP) joined Hong Kong FinTech Week 2020 to showcase its rapidly expanding fintech ecosystem, amid the acceleration in fintech adoption sparked by the challenges of COVID-19.
HKSTP today hosted two featured panel discussions together with its startups and one of its corporate partners. It also brought 20 fintech partner companies and incubatees to exhibit at the week-long virtual FinTech Week from 2 to 6 November.
Albert Wong, CEO of HKSTP, said, “As a driving force behind Hong Kong’s rapidly growing fintech ecosystem, HKSTP strives to connect our fintech companies with potential business partners and investors. We are thrilled to present our thriving fintech community at Hong Kong FinTech Week, which highlights the acceleration of fintech development across corporate and consumer finance. It is truly a show of strength and resilience for Hong Kong’s fast-rising fintech potential, cementing Hong Kong’s status as a world-leading financial centre.”
At HKSTP, fintech partner companies focus on extensive R&D and application of emerging technologies, including AI, blockchain, cybersecurity and data analytics. These create the solid foundation necessary for the development of ground-breaking solutions in payments, banktech, regtech, wealthtech, capital market and insurtech.
Accelerating fintech adoption has been a discussion focus during this year’s Hong Kong FinTech Week. HKSTP and Hang Seng Bank have formed a strategic alliance since 2019 to facilitate the development and deployment of fintech solutions in the banking sector. Hang Seng Bank’s Chief Operating Officer, Eunice Chan joined HKSTP’s Chief Corporate Development Officer, Eugene Hsia, and Head of Electronics and ICT Clusters, Ir Peter Yeung, for the panel session on “The Future of Fin+Tech Collaboration” in the Hong Kong Channel track. They shared their experience of collaborating with innovation and technology companies in driving innovation to address current and future needs of customers.
HKSTP partner companies also shared their views on growing fintech adoption during another HKSTP-hosted panel discussion, “Fintech and the New Normal”, broadcast under the FinTech Studio track earlier today. Speakers included Patrick Fan, CEO and Founder at beNovelty, an API company; Wallace Chow, Fraud and Compliance Director at regtech provider Regtics; and Ivy Tse, Co-Founder and Director at FreightAmigo, a provider of integrated logistics and trade finance solutions. All three observed how the pandemic has induced new innovations to address changing market needs and an urgent focus on transformation in the financial and other sectors.
With its soon-to-be-launched banking virtual lab, HKSTP aims to nurture fintech co-creation by engaging banking partners to provide data and APIs. Tech developers and banks can test and validate their solutions under various scenarios using data on this virtual platform.
HKSTP’s InnoCentre in Kowloon Tong will be designated a new Fin+Tech hub, giving different stakeholders a focal point to collaborate with fintech companies. Together with various partners, the hub will serve as a platform for fintech solution co-creation, business matching, and a soft-landing for overseas fintech companies, laboratory and proof-of-concept trials, as well as training and seminars.
The size of the HKSTP’s fintech community is increasing rapidly, with twenty fintech companies showcasing their innovations at Hong Kong FinTech Week, including