"Unleash Potential of Fintech Innovation", Interviewed with Eunice Chan on ASTRI x RedHat Seminar

Date:2021-10-18 11:44

With Hong Kong Monetary Authority (HKMA) unveiling the Fintech 2025 strategy this year, Financial Service Industry in Hong Kong has steadily entered an era of orderly accelerated development. Banking and fintech companies have successively innovated and continue developing new technologies to adapt to the ever-increasing regulatory requirements, occupy a place in the fierce market competition, and meet growing customer demands. On September 8th, 2021, ASTRI (Hong Kong Applied Science and Technology Research Institute) and RedHat held a seminar on “The Next Chapter of Financial Services” for various financial institution executives. Mrs. Eunice Chan, COO from HASE, joined the executive interview session with Dr. Martin Szeto, COO from ASTRI.

“Customer first” principle as core of innovation

Eunice stated that Hang Seng has always adhered to the “customer first" service principle and introduced innovation that enhances customers’ lifestyles. It is also the core for Hang Seng’s innovative development routes. Around the floor enquires about innovating, Eunice gave a definite answer: we consider customers’ needs in advance, co-collaborate with different departments, and dare to try undeveloped areas to get one step ahead of the market. Of course, there will be loads of failures in the process of innovation. It is inevitable but also a valuable lesson to learn.

Talent development is key of the innovation process. Eunice introduced some of the intern programs that cooperate with the universities, such as The Chinese University of Hong Kong and HKMA Fintech Career Accelerator Scheme (FACS) . Internally, Hang Seng provides cultural change trainings, inspiring one’s creativity to enhance facilitating colleague to stimulate the exchange of ideas.

In future, everyone enjoys VIP services 

Nowadays, digitalization is everywhere and has brought an earth-shaking impact on our lives. Eunice and Martin both recognized the role of data for society, and the usage can be massive. As far as banking is concerned, data can establish profiles of different subjects, grasp the preferences of individuals, and provide customized services accordingly. Eunice believes that in the future, private banking will be no longer exclusive to VIP customers, it’s already been customized for everyone.

In the era of banking 4.0, more and more people are focusing on Fintech innovation, new technologies caused transformation in traditional banking, and this ecosystem is also stirring our daily life. As Eunice said, banking can be described by lifestyle. It permeates many aspects of human life, affecting our material and actions, even bringing subtle changes to people's consciousness, these phenomena inspire us to think about how to provide the next best service to customers.

For video playback, please visit: https://youtu.be/hKfHPdnfB2s

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