Primed for the Future, Hong Kong Steps Up to the Next Era of Fintech

Cover Story 

Primed for the Future, Hong Kong Steps Up to the Next Era of Fintech

Fintech does not evolve in isolation. Home to more than 600 Fintech companies, from faster payments to Wealthtech, Insurtech and Regtech, Hong Kong continues to bolster its financial technology ecosystem, which puts the city in the premier league of global Fintech hubs. Given its locational and connectivity advantages and characterised by a diverse, resilient, and dynamic banking and finance  landscape, the Cover Story in this edition of Banking Today looks at  the way forward-looking  policy measures and proposals can further strengthen Hong Kong's Fintech ecosystem capabilities as a growth engine for the financial industry in the post-pandemic era.

Special Article

Annual Banking Conference Shines a Light on Key Issues Relevant to the Banking Industry in the New Normal 

Shining a light on emerging trends and topical issues closely related to the local banking community, staged in a hybrid format, the HKIB Annual Banking Conference brought together more than 1,000 delegates.  With "Re-Globalisation, Sustainability, Transformation, under the New Normal" as the overarching theme, this recap article highlights how the flagship event provided an unparalleled platform for delgates to gain insights from regulators, senior executives, expert speakers and insightful panel discussions on pressing concerns and opportunities faced by Hong Kong's banking industry, including the vital role the banking sector can play in reinventing services to shape sustainability initiatives and climate change solutions for the betterment of the planet and its people.

Thought Leaders

BOCHK Strives for Sustainable and High-quality Development Through Innovation

In an interview with Banking Today, Mr SUN Yu, Vice Chairman and President of Bank of China Hong Kong (BOCHK) talks about a wide range of topics including how BOCHK has formulated its own five-year plan as medium-term roadmap based on China's 14th Five-Year Plan (2021-2025) for National Economic and Social Development, meeting the cross-border banking needs of Hong Kong citizens and BOCHK's innovative use of Fintech to support cross-border trade transactions. He also talks about BOCHK's talent development initiatives and collaborating with the HKIB to help to future-proof the talent pipeline for the wider banking industry.

China World 

As Technologies that Support Digital Assets Gain Traction, What Comes Next?

As the Central People’s Government of the People’s Republic of China pushes ahead with the development and implementation of its sovereign digital currency initiatives, our China World article looks at the challenges and opportunities technologies that Support digital assets could offer from capital market payment options, tokenisation,  solutions that  shorten the cross-border  settlement cycle and the Stock, Bond and  Wealth Management Connect platforms. 

Knowledge Plus

It’s All about the People: HKIB Training and Talent Development Survey Reveals Challenges and Opportunities

Conducted to provide a better understanding of Hong Kong's banking landscape, the fifth HKIB Talent Development Survey 2021, identified skills gaps and explored how the industry can seize opportunities through talent development and training initiatives. Amidst a swiftly shifting banking environment, based on the views of over 850 respondents including banking and financial practitioners, academics as well as university students the Special Article in this edition of Banking Today takes a close look at talent development needs, skills gaps and other topical issues pertaining to the capacity building in the banking sector.

GRC Corner 

Banking Digitalisation in Hong Kong – a Retrospective and Prospective View

As Hong Kong becomes increasingly immersed in the era of digital and Smart banking initiatives including notable milestones such as the Faster Payment System (FPS) and eight new virtual banks, the GRC Corner article in this edition of Banking Today takes an in-depth look at the development of modern financial technology and highlights some of the most pressing near-term challenges facing the banking industry in Hong Kong.