The 6th Fintech Week Hong Kong (FTWHK), organized by FSTB, InvestHK and co-organized by HKMA, SFC and IA, with HSBC as the title sponsor, was held from November 1st to 5th. The occasion is Asia's most anticipated international financial technology event, bringing together more than 1.2 million viewers and 17,000 attendees. As a bank that fully embraces technology innovation, Hang Seng participated and supported the main conference, as well as several satellite events during the week. This occasion served as an inspiration for constructing out of the box banking solutions and to facilitate better matching between business units and FinTech innovations, allowing the bank to stay in line with current technology market trends and meet the ever-changing needs of consumers.
Cyberport FinTech InnoCon 2021
As a spotlight event of Cyberport Venture Capital Forum (CVCF) 2021, Cyberport FinTech InnoCon 2021 was staged onNovember 1st with the theme “Innovation of FinTech Proof-of-Concept for Hong Kong Financial Services Industry”. The online conference brought together speakers from financial institutions, regulators and start-ups to exchange insights on trends and opportunities in all areas of financial service.
John Wong, Head of GLCM at Hang Seng, joined the discussion panel on the topic of “Alternative Data for SME financing”. He explored how digital finance changes, how SME financial data can be analyzed, and how Alternative Data can be leveraged for the bank to assess their creditworthiness. Other speakers during the conference include representatives from HKMA, Klook and Welab etc.
2021 CUHK Conference on Financial Technology
The Hang Seng sponsored 2021 CUHK Conference on Financial Technology was held on November 2nd . Bearing the theme “Towards a Digitalized Society – Digital Assets and Platforms”, this conference seeks to bring the academia and industry participants together for fruitful discussions and promote future collaboration opportunities.
Eunice Chan, COO of Hang Seng Bank was invited as one of the Guests of Honor. Featured speakers from Hang Seng included Head of GLCM John Wong and Head of GLCM Digital Maggie Fong, who shared their views on integration of cash management in the business ecosystem. They emphasized that operational efficiency and process optimization are keys to drive an all-win situation that benefit both business and customers. Other participants included CIO of Hang Seng Bank Nike Kong, who joined a panel discussion about development and outlook of digital assets. Panelists agreed that digital assets will undoubtedly play a tremendous role in the future, and that regulation and technology are key areas to support this development. CEO of Hang Seng Insurance Joe Lam also shared his view on how environment protection will support business growth in the insurance.
(John Wong, Head of Global Liquidity and Cash Management, Hang Seng Bank)
(Left: Henry Chong, CEO, Fusang)
(Right: Nike Kong, Chief Information Officer, Hang Seng Bank)
(Left: Joseph Chan, Chief Digitilization Officer, HKMA) (Middle: Patrick Khong, Chief Data Officer, Hang Seng Bank Ltd.)
(Right: Rebecca Shao, Head of Data and Research and Head of Asia Pacific, The Floor)
(Joe Lam, CEO, Hang Seng Insurance Company Ltd.)
Being a hybrid event, there were also 2 booths showcasing Hang Seng’s FinTech achievements. One booth introduced FinTecubator initiated Internal Startups Programme and Fintech talent recruitment by HR, while the other booth displayed FinTech efforts of Wholesale Banking and DBG, as well as achievements in digital banking including use cases like Simply Fund, HARO, Invest Express and BERI etc.
(William Chan, Head of Innovation and Growth, Wholesale Digital, Strategic Change & Simplification, Hang Seng Bank)
Hong Kong FinTech Week Main Conference
The Main Conference on November 3rd to 5th at the Hong Kong FinTech Week gathered professionals from different industries all over the world to enable a global conversation on how emerging technologies and innovative advances can power the future of financial services.
Representatives from Hang Seng were invited to share their views in several panel discussions. Head of Strategy Planning and Chief of Staff to CE, Gilbert Lee, explained how banks can help build a thriving innovation community in the GBA by offering start-ups and other companies tailored services through alliances with strategic partners. At a session on federated learning, Head of Data and Architecture Patrick Khong highlighted the growing importance of robust data privacy systems in the context of a fast-moving data management landscape.
(Gilbert Lee, Head of Strategy Planning and Chief of Staff to CE, Hang Seng Bank)
(Patrick Khong, Head of Data and Architecture, Hang Seng Bank)
Hang Seng is also proud to have contributed to identifying possible business-use cases for another HKMA initiative, Project mBridge, which aims to strengthen research work on the potential for using a wholesale multi-central bank digital currency (CBDC) platform to deliver real-time, lower cost and more secure cross-boundary payments and settlements for SMEs. The Bank's Commercial Banking team is also participating in the ‘Commercial Data Interchange’ platform, an initiative of the Hong Kong Monetary Authority (HKMA), and partnering with QFPay HK, a digital payment and big-data technology company.
Conversations with the world’s top investors, venture capitalists, Asia’s FinTech giants and virtual banks at Hong Kong FinTech Week reinforces Hang Seng’s strategy in digital transformation. Hang Seng will continue to integrate FinTech innovations into its business and services to delight customers and meet their needs.