Banking on the Development of Tech Talent

Cover Story 

Banking on the Development of Tech Talent

In recent years, the increasing prominence of Fintech has been a game changer to the global financial industry as the adoption of Fintech products and services continues to transform traditional financial services. At the same time, banks and financial institutions are facing a severe shortage of Fintech talent. With access to talent representing a major challenge, the Banking Today Cover Story examines the measures that have been introduced to address the issue and various ways banks and financial institutions can attract, develop and retain Fintech talent.

Thought Leaders

A Quarter of a Century of Learning and Serving

In our regular Banking Today Thought Leaders feature, David LIAO, Co-Chief Executive, The Hongkong and Shanghai Banking Corporation Limited (HSBC) reflects on his quarter of a century with the Bank and offers in-depth insights on why Asia is and will continue to be the most dynamic part of the global economy and why Hong Kong is in the epicentre of the most interesting economic story of the past 100 years – the phenomenal growth and development of Mainland China. LIAO also explains how HSBC is committed to the Asian growth story by helping customers to capitalise on opportunities for growth, the different ways the Greater Bay Area is an integral part of the next iteration of the growth story and Asia's role in the battle against climate change.

China World

Expanded Qianhai Zone Opens the Way for More Opportunities for Cooperation

Adding further robustness to Hong Kong's banking and finance ecosystem the launch on 4 July 2022 of ETF Connect, the latest addition to the Connect scheme will enable Mainland and Hong Kong investors to trade eligible exchange-traded funds (ETFs) listed on Hong Kong and Mainland markets respectively through their local brokers. Expected to attract up to 200 billion yuan (USD29.8 billion) of investments in less than two years, the China World article in this edition of Banking Today sets out how ETF Connect can help to catalyse the growth of Hong Kong as an ETF hub in the Asia Pacific region by attracting more capital and liquidity to the ETF market and provide opportunities for ETF managers to increase their assets under management.

Fintech

Fintech Can Help to Navigate the Ever-evolving ESG Ratings and Compliance Reporting

With demand for environmental, social and governance (ESG) analysis and reporting on the rise, clear insights can help asset managers, regulators and other stakeholders make better and more informed decisions. However, with the different ESG ratings asset managers have to get to grips with, making sense of reporting, especially non-financial reporting can be challenging. Against this backdrop, BlueOnion explains the mechanics of using Fintech solutions to utilise data and sustainable values to evaluate the ESG risks and opportunities across different asset classes.

Knowledge Plus

Seamless Banking in the Greater Bay Area: The Need to Build Trust and Raise Standards

The consequences of a lack of employee trust can be significant, impacting productivity, engagement and ultimately talent retention. Employee trust is a particularly relevant issue at present, as many banks and financial institutions reshape their operations in an evolving operating environment. In our Knowledge Plus article, professional services company Accenture explains how trust needs to be set at the top of the organisation and how, establishing the right tone can help banks and employees to become "net better off".

GRC Corner 

New Recommended Model Clauses for Cross-border Transfer of Personal Data

Against a backdrop of increasing digitalisation in the handling of personal data in recent years, there has been an exponential increase in cross-border transfers of personal data. In light of this trend it is important for Hong Kong personal data users to be aware of their obligations. In our GRC Corner article in this edition of Banking Today, based on its recently published Guidance on Recommended Model Contractual Clauses for Cross-border Transfer of Personal Data, the Privacy Commissioner for Personal Data (PCPD) suggests best practices to be adopted as part of a data governance responsibility strategy to protect and respect the personal data privacy of data subjects.