Strategic Insights

Fintech Promotion Blueprint

Building on the “All Banks Go Fintech” initiative and the 2023 Fintech Promotion Roadmap, the Blueprint focuses on advancing five technology enablers and foundations (i.e., A.I., DLT, HPC, data excellence, and cyber resilience). The Blueprint aims to address sector challenges by executing coordinated initiatives across three strategic dimensions: (1) ecosystem collaboration, (2) technological advancement, and (3) talent and outreach.

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Insights by:

Benjamin Quinlan

CEO / Managing Partner

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Key Takeaways

To support "Fintech 2030”, a clear North Star vision by the HKMA, the Fintech Promotion Blueprint focuses on five key technology enablers and foundations:
Artificial Intelligence ("A.I."): Accelerate A.I. adoption in Hong Kong’s financial services industry by promoting practical, advanced applications that enhance risk management, competitiveness, and efficiency.
Distributed Ledger Technology ("DLT"): Advance DLT adoption in Hong Kong’s financial services Industry through innovation, incubation, and best practice sharing to boost transparency, efficiency, and security.
High-Performance Computing ("HPC"): Promote HPC in Hong Kong’s financial services industry to boost resilience, ensure safety, and enable advanced modelling such as for risk management and portfolio applications.
Data Excellence: Strengthen data capabilities and governance in Hong Kong’s financial services industry to enable secure, high-quality foundations for A.I., DLT, and risk management innovation.
Cyber Resilience: Enhance Hong Kong’s financial services industry resilience by embedding advanced cybersecurity into new technologies and boosting collaborative defences against evolving threats.
Across the five technology priorities, the HKMA will execute initiatives across three strategic dimensions:
Technological Advancement: Promoting the development and integration of advanced technologies.
- Fintech Cybersecurity Baseline
- Events (i.e., FiNETech series)
- Hong Kong A.I. Fintech Map
- Revamping Fintech Connect
Ecosystem Collaboration: Encouraging partnerships and collaborative efforts within the fintech community and beyond.
- Quantum Preparedness Index
- New Risk Data Strategy
- Publications
- Industry Showcase Workshops
- Digital Content
Talent & Outreach: Building skills, raising awareness, and nurturing a robust fintech workforce.
- Competency Development Support
- Competitions
- Training Programme
- Knowledge Repositories
Overall, the Blueprint reinforces the HKMA’s commitment to fostering fintech growth and innovation in Hong Kong, elevating fintech adoption to a more sophisticated level in support of the ambitions of “Fintech 2030” and laying a strong foundation for future progress.