Joining IBM Hong Kong Collaborative Innovation Program

Date:2020-07-23 17:08
Joining IBM Hong Kong Collaborative Innovation Program

FinTecubator, functioning as a key innovation driver in Hang Seng Bank, joined hands with IBM Hong Kong, the local arm of a world leading technology company, to boost Fintech development in the banking industry to better serve the experience of the end customers.

As more companies go beyond their industry boundaries to seize growth opportunities, there is a greater need for cross industry collaboration to facilitate new business model formation.

To foster cross-industry use case nurturing and cultivation, IBM Hong Kong proposed the Collaborative Innovation Program, a cross-industry initiative to accelerate industry platform creation using open technologies for the Greater Bay Area and Smarter HK. Having shared the same goal with IBM Hong Kong in driving Fintech Development, FinTecubator, proactively participated in the program with the mission of building an open ecosystem for all parties .

Sharing views on Hong Kong banking industry

(From left to right: Ms. Reginia Chan, Associate Partner, Banking and Financial Markets, Global Business Services from IBM Hong Kong; Mr. Barry Chan, Partner, Banking and Financial Markets, Global Business Services from IBM Hong Kong; Mr. Stanley Wong, former-CEO and executive director of ICBC Asia Limited, chairman of different government boards and panels)

Aligning with the Collaborative Innovation Program, FinTecubator held a sharing event at ABCDE on 12th June with the topic of Driving innovation for Smarter Hong Kong to assist our colleagues to envision Banks beyond banking.

(Mr. Stanley Wong Yuen-Fai, Justices of Peace, former-CEO and executive director of ICBC Asia Limited, chairman of different government boards and panels.)

Supported and coordinated by IBM Hong Kong, we were honoured to have Mr. Stanley Wong joining us to share his practical experiences in promoting innovation and Smarter HK Initiatives, while Mr. Barry Chan from IBM Hong Kong introduced the Collaborative Innovation Program and its mission of driving open innovation by aligning business agenda across industries for a Smarter Hong Kong.

(From left to right: Mrs. Eunice Chan, COO of Hang Seng Bank ; Mr. Stephen Leung, Head of IT, WPB of Hang Seng Bank)

Mrs. Eunice Chan, Chief Operation Officer of Hang Seng Bank who is in charge of the Future of Banking Programme, also participated in this event and shared the bank’s vision of its broader engagement in Fintech innovation to evolve its banking services.

Colleagues from the bank and FinTecubator internal start-up teams participated through an online webinar observing the social distancing policy because of the outbreak of COVID-19 . By connecting them directly with the industry subject matter experts supported by IBM Hong Kong, and management of Hang Seng Bank, surely, it had brought them valuable visions and insights of the Fintech industry.

Internal start-ups close door pitching

As the five internal start-ups were going through incubation processes and were heading to the next stage of commercialization, it was crucial for our intrapreneurs to understand the market, measuring the gap between their products and the market needs, so that they could refine their approaches and offerings accordingly before launching to the market.

In response to their demand, FinTecubator arranged a separate close door pitching for each team, enabling our intrapreneurs to seek external advice and views from experienced practitioners of the Fintech market. Also, regarding it as a pitching rehearsal, it was a valuable opportunity for them to practise how to present their ideas and how to cope with different situations. By providing them a face-to-face meeting, intrapreneurs were then better prepared for the upcoming CE and EXCO members pitching in August.

Deliver more values by forging a closer cooperation

Partnering with IBM Hong Kong is a memorable milestone of FinTecubator in embracing FinTech innovation. With great values delivered by IBM Hong Kong, this event definitely marks as the starting point of our further collaboration.

 FinTecubator will continue to forge a closer partnership with IBM Hong Kong to explore more values to the bank as well as the market. With the shared goal of leveraging Fintech solutions to better serve our customers, it is believed that we can build a vibrant FinTech and start-up ecosystem in Hong Kong together.
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