香港《金融科技推广计划》 -A BRIDGE TO THE FUTURE - HONG KONG FINTECH PROMOTION ROADMAP

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ABRIDGETOTHEFUTURE:HONGKONGFINTECHPROMOTIONROADMAP

CONTENTS

FOREWORD03

1.EXECUTIVESUMMARY04

2.FINTECHFACILITATIONINITIATIVES13

2.1PROMOTINGHONGKONGASAFINTECHHUB15

2.2CLARIFYINGREGULATORYREQUIREMENTS16

2.3BOLSTERINGFINTECHSUPPORTINGINFRASTRUCTURE18

2.4NURTURINGTALENT19

2.5OFFERINGFINANCIALSUPPORT20

2.6MOVINGFORWARD20

3.HKMAFINTECHADOPTIONSTUDY22

3.1OVERVIEW22

3.2STATUSQUO23

3.3FINTECHADOPTIONLIFECYCLE28

3.4FINTECHVERTICALS:IDENTIFIEDCHALLENGES29

3.5TECHNOLOGYOVERLAYS:IDENTIFIEDCHALLENGES43

4.ROADMAPKICK-OFF44

4.1PLANNEDINITIATIVES46

4.2INITIATIVESUNDERCONSIDERATION52

4.3CONCLUSION52

5.APPENDIX53

5.1RESEARCHMETHODOLOGY53

ROADMAPKICK-OFF

EXECUTIVESUMMARY

HKMAFINTECH

ADOPTIONSTUDY

FOREWORD

APPENDIX

FINTECHFACILITATION

INITIATIVES

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ABRIDGETOTHEFUTURE:HONGKONGFINTECHPROMOTIONROADMAP

FOREWORD

Inaneramarkedbyrapidtechnologicaladvancementandincreaseddemandformoreefficientandcustomer-centricfinancialservices,itiscrucialforHongKong'sfinancialservicesindustrytoembracefinancialtechnology(Fintech).TheHongKongMonetaryAuthority(HKMA),aswellastheSecuritiesandFuturesCommission(SFC)andtheInsuranceAuthority(IA),recognisesthetransformativepowerofFintechandremainscommittedtofosteringmorewidespreadadoptionthroughouttheindustry.TofurtherfuelthegrowthoftheFintechecosystem,itisimportantthattheHKMAengendersmoreconcertedcollaborationacrossthefinancialservicesindustry.

HongKong'sfinancialregulatorshavebeenclosely

coordinatingtheireffortstopromoteFintechadoptioninHongKong.Severalinitiatives,suchasthelaunchofsupervisorysandboxesforFintechinnovators,ongoingregulatorandindustrydialogue,andtheintroductionofFintechfacilitationteams,haveallbeenintegraltotheseefforts.Thisreportisdesignedtofurtherthismomentum,presentingthecaseforamplifyingtheadoptionofFintechinHongKongandoutliningtheHKMA’sroadmaptoexpeditethisprocess.

TheHKMAenvisagesthatthisroadmapwillserveasanessentialPACE("Propagate","Assess","Connect","Equip")guidefortheindustry."Propagate"involvessharingofinsightsandbestpractices."Assess"relatestounderstandingtheintricaciesofemergingtechnologies."Connect"speakstotheHKMA’seffortsinestablishingstrongertiesbetweenFintechusersandproviders.Lastly,"Equip"involvesupskillingofFintechpractitioners.

TheHKMA’sPACEguidedelvesintofivekeyareas:

•Under"Propagate",theHKMAwillfacilitatethesharingofFintechexperienceandexpertiseamongfinancialinstitutionsandFintechserviceproviders.

•"Assess"consistsofresearchprojectsthatprovidetheindustrywithinsightsintothelatestdevelopments,opportunitiesandriskspertainingtoemergingtechnologies.

•Thefirstcomponentunder"Connect"entailsfosteringstrongerconnectionsbetweenFintechusersandprovidersandcreatingacommongroundfordialogueandcollaboration.Thesecondcomponentlooksatminimisingduplicativeeffortstoenhanceadoptionefficiency.

•Finally,under"Equip",theHKMAwilldelivertrainingsessionsdesignedtoequipFintechpractitionerswithrelevantcompetencies,enablingthemtoutiliseFintechsolutionsmoreeffectively.

TheHKMAtruststhatitsroadmapwillinspirefinancialinstitutionsinHongKongtoactivelyconsiderthechallengesthatcanberesolvedwithFintech.TheHKMAiseagertoseetheseinstitutionsexplore,experimentandultimatelyadoptmoreFintechsolutions.Simultaneously,thereareampleopportunitiesfortheFintechcommunitytotailortheirsolutionsfortheHongKongmarket.

TheHKMAextendsitsdeepestgratitudetoallsurveyrespondents,intervieweesandindustrybodiesfortheirvaluablecontributionstothisreport.TheHKMAalsowantstoexpressitssincerethankstotheSFCandtheIAfortheirongoingsupportandcollaborationinthisendeavour.

ArthurYuen

DeputyChiefExecutive

HKMA

FINTECHFACILITATION

INITIATIVES

4ABRIDGETOTHEFUTURE:HONGKONGFINTECHPROMOTIONROADMAP

1.EXECUTIVESUMMARY

HKMAFINTECH

ADOPTIONSTUDY

EXECUTIVESUMMARY

ROADMAPKICK-OFF

FOREWORD

APPENDIX

BACKGROUND

Inrecentyears,Fintechhasbeenakeydriverunderpinningthetransformationofthefinancialservicesindustry.NotonlyhaveFintechsolutionsempoweredfinancialinstitutionstoprovideawiderrangeofproductsandservicesatgreaterspeedandlowercost,butendconsumershavealsobenefittedfromgreateraccessibilitytofinancialservicesandanenhancedcustomerexperience.

Recognisingthispotential,theGovernmentoftheHongKongSpecialAdministrativeRegionofthePeople'sRepublicofChina(HKSARGovernment)hasidentifiedFintechasastrategicpriorityforfuturegrowthandhasbeenproactivelysupportingitsadoptionacrossthebanking,securitiesandinsurancesectors.Tothisend,HongKong’sfinancialservicesregulators–theHKMA,theSFCandtheIA–haveimplementedvariouspoliciesandinitiativesinrecentyearsunderfivekeypillars:

1.PromotingHongKongasaFintechhub;

2.Clarifyingregulatoryrequirements;

3.BolsteringFintechsupportinginfrastructure;

4.Nurturingtalent;and

5.Offeringfinancialsupport.

ManyoftheseinitiativesbuilduponthestrongfoundationslaidoutbytheHKMAinitsFintech2025strategyforthebankingsector,whichwasannouncedin2021.OneofthefivekeydirectivesoutlinedundertheHKMA’sFintech2025strategywas“AllbanksgoFintech”,whichaimedatpromotingthewidespreadadoptionofFintechsolutionsinHongKong’sbankingsector.

Aspartofthisdirective,theHKMAcarriedouttheTechBaselineAssessmentin2021toevaluatethestateofFintechadoptionamongHongKong’sbanks,withkeyobservationsandthebroaderadoptionoutlookpublishedin2022.

Sincebanks(i.e.AuthorizedInstitutionsundertheHKMA’spurview)serveasacentralisedplatformwhereHongKongresidentscanaccessvariousfinancialservicessuchaswealth/investmentservices(undertheSFC'spurview)andinsuranceservices(undertheIA'spurview),theTechBaselineAssessmentwasabletocapturetheoverallFintechadoptionstatusacrossthefinancialservicesindustry.BasedonthefindingsoftheTechBaselineAssessment,theHKMAidentifiedfivekeyFintechfocusareas(seeFigure1)forHongKong:

FintechVerticals:

.

◆1.Wealthtech/Investech

2.Insurtech

3.Greentech

TechnologyOverlays:

4.ArtificialIntelligence(A.I.)

5.DistributedLedgerTechnology(DLT)

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FIGURE1:FINTECHFOCUSAREAS

FINTECHVERTICALS

Wealthtech/Investechaimstoenhancewealthmanagementinareasincludingfinancialplanning,investmentmanagement,portfolioanalysis,investmentexecutionandclientcommunication.

WEALTHTECH/

INVESTECH

Forexample,Wealthtech/Investechplatformsofferfeaturessuchasreal-timeportfoliotracking,performanceanalysis,riskassessmentandrebalancingcapabilities.Thesefeaturescanbeusedtobetteroptimiseassetallocationandmanageriskmoreeffectively.

INSURTECH

Insurtechisdesignedtoimproveoperationalefficiency,enhancecustomerexperienceandenablemoreaccurateunderwritingandriskassessment,leadingtocostsavings,increasedcompetitivenessandbetterriskmanagement.

Insurtechsolutionsspanacrossthedigitalenablementofagents,suchasthroughadedicatedportal,facilitatingfront-enddigitaldistributionofinsuranceproductstoendcustomersandstreamliningtheclaimsmanagementprocessthroughautomationanddigitalisation.Forexample,claimscanbesubmitted,trackedandprocessedonline,reducingpaperworkandimprovingthespeedofclaimsettlement.Inaddition,InsurtechsolutionsmayleverageA.I.algorithmstoautomateclaimsassessmentandfrauddetection,improvingaccuracyandefficiencyinclaimshandling.

GREENTECH

Greentechhelpsbusinessestoidentifysustainableinvestmentopportunitiesandmanageclimate-relatedrisks.Itenablesfinancialinstitutionstocollect,analyseandinterpretdatarelatingtovariousenvironmental,socialandgovernance(ESG)metricsofcompaniesand/orassets.

Asaresult,userscanmoreeasilyintegrateESGfactorsintotheirinvestmentand/orlendingdecision-makingprocesses.GreentechsolutionscanalsooffernewESG-specificthematicproducts,suchasloanproductsthatareextended–andunderwritten–basedontheESGperformanceoftheloanapplicant.

TECHNOLOGY

OVERLAYS

ARTIFICIAL

INTELLIGENCE

A.I.referstothesimulationofintelligenceinmachinestoenablethemtoperformtaskstypicallycarriedoutbyhumans.ThereareanumberofA.I.applications,suchasopticalcharacterrecognition(OCR),roboticprocessautomation(RPA),biometricauthentication,augmenteddataanalytics,real-timemonitoring,deeplearning,federatedlearningandconversationalnaturallanguageprocessing(NLP),enablingsystemstolearnfromdata,makejudgmentsandpredictions,aswellasinteractwithhumans.

Inthefinancialservicesindustry,A.I.hasthepotentialtorevolutioniseabroadspectrumofexistingprocessesandservices.AkeyrecentadvancehasbeentheemergenceofgenerativeA.I.(GenA.I.),whichcangeneratecustomisedresponsestopromptsusingtextandimages.Thisnewtechnologyhasthepotentialtobeusedinawiderangeofareas,suchasselectinginvestmentplansforcustomers,underwritinginsurancepoliciesandproducingfinancialnewsandreports.A.I.isalreadyusedinchatbots,butthelatesttechnologydevelopmentswillfacilitatemorepersonalisedcustomersupport,tailoredrecommendationsandamoreseamlesscustomerexperience.

DISTRIBUTED

LEDGER

TECHNOLOGY

DLTisadecentralisedanddistributeddatabasesystemthatenablesmultipleledgers(i.e.nodes)tomaintainasharedrecordoftransactions.Byleveragingcryptographictechniquesandconsensusprotocols,DLToffersenhancedlevelsofdataintegrity,securityandtransparencyunderacertainarchitectureandconfiguration,withouttheneedforacentralauthority.

DLTcanbeusedtoenhancetheefficiencyofcross-borderpayments,remittancesandsecuritiesissuanceandsettlementbyminimisingtheinvolvementofintermediaries.Asaresult,itcanpotentiallyreducetimedelaysandexcessivecostsassociatedwithintermediation(e.g.datareconciliation,transferandvalidation),makingfinancialtransactionsfasterandmorecost-effective.

Source:HKMA

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ABRIDGETOTHEFUTURE:HONGKONGFINTECHPROMOTIONROADMAP

Giventhepromisingoutlookforcross-boundarywealthmanagement,investmentandinsuranceservicesofferedbytheGreaterBayArea(GBA)market,theTechBaselineAssessmenthighlightedthatadoptionratesforWealthtech/InvestechandInsurtechsolutionsamonglocalbanksareforecasttoriseby20-40%from2022to2025.TheHKMA’songoingemphasisonsustainabilityhasalsogeneratedsignificantdemandforGreentechsolutions,withtheTechBaselineAssessmentindicatingthatGreentechadoptionwilldoublebetween2022and2025.

BeyondtheprojectedgrowthintheseFintechverticals,theTechBaselineAssessmentalsohighlightedtheinterestofbanksinnoveltechnologiessuchasA.I.andDLT.Giventhatthesetwotechnologyoverlaysholdtransformativepotentialinreshapingthefinancialindustry,theHKMAexpectstheadoptionofA.I.andDLTtocontinueinHongKong,inlinewithglobaltrends,whichitseekstoencourage.

ThefiveFintechfocusareasholdsignificantrelevanceacrossthebanking,securitiesandinsurancesectors.Assuch,strongercross-sectoralcollaboration,particularlyamongstthefinancialregulators,isimperativetosteerthecitytowardsthenextlevelofFintechadvancement.

FINTECHFACILITATIONINITIATIVES

HKMAFINTECH

ADOPTIONSTUDY

EXECUTIVE

SUMMARY

HKMA

IA

FOREWORD

ROADMAP

KICK-OFF

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APPENDIX

7

VISION

GiventhestronginterestshownbyHongKong’sfinancialinstitutionsinadoptingFintechsolutions,theHKMA–togetherwiththeSFCandtheIA–remainscommittedtosettingaclear,overarchingvisionthatsupportslocalFintechstakeholders.

ThevisionofHKMA,togetherwiththeSFCandtheIA,istobolsterHongKong’spositionasaleadingglobalfinancialcentrethatoffersworld-classdigitally-enabledproducts,servicesandexperiencestoallconsumersandbusinessesthroughfullyembracingFintechsolutions,facilitatedbyactivecross-sectoralcollaboration(seeFigure2).

FIGURE2:VISION

VISION

TobolsterHongKong’spositionasaleadingglobalfinancialcentrethatoffersworld-classdigitally-

enabledproducts,servicesandexperiencestoallconsumersandbusinessesthroughfullyembracing

Fintechsolutions,facilitatedbyactivecross-sectoralcollaboration

SFC

FINTECHVERTICALS

GREENTECH

INSURTECH

WEALTHTECH/INVESTECH

Digitalisetheend-to-endinsurancevalue

chaintoofferasuperioromnichannel

experienceforbothexistingand

prospectivepolicyholders

Embracenewdataand

technologiestoaccelerate

HongKong’stransitiontoa

net-zeroeconomy

Deliverwide-ranging,

hyper-personalisedandlow-cost

wealthandinvestmentsolutions

acrosstheentirewealthcurve

ARTIFICIALINTELLIGENCE

Harnessthetransformativepower

ofA.I.tosuperchargetheimpactof

Fintechsolutionsacross

theend-to-endcustomerjourney

DISTRIBUTEDLEDGERTECHNOLOGY

Reimaginetraditionaloperating

modelsandprocessesby

proactivelyexploringtheadoption

ofDLT-enabledsolutions

TECHNOLOGYOVERLAYS

Source:HKMA

ROADMAPKICK-OFF

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ADOPTIONSTUDY

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FOREWORD

APPENDIX

CONSIDERATION

NEGOTIATION

ACTIVATION

ONBOARDING

FINTECHFACILITATION

INITIATIVES

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ABRIDGETOTHEFUTURE:HONGKONGFINTECHPROMOTIONROADMAP

Overthepastfewyears,HongKong’sfinancialservicesindustrywitnessedmarkeddisruptionfromgame-changingpropositionsbroughttomarketbyFintechprovidersandFintech-poweredincumbents,includingnewvirtualbanks,virtualinsurersandvirtualassettradingplatforms.

Atitscore,FintechinnovationisultimatelyaboutbenefittingthepeopleofHongKong–beitwithrespecttoimprovedaccessibility,greaterconvenience,hyper-personalisation,fasterandmoreintuitiveexperiences,improvedsecurityandlowercosts.ThevisionmanifestsitselfinharnessingthepotentialofWealthtech/Investech,InsurtechandGreentechtobetterservethepeopleofHongKong.ThisalsoincludeshowthelocalfinancialservicesindustrycanbetterharnessthepowerofA.I.andDLTtoaugmentthequalityofsolutionsacrossthesekeyFintechverticals,therebyupliftingthecompetitivenessofHongKong.

Itgoeswithoutsayingthattheadoptionofthesenewtechnologiesnecessitateswell-orchestratedandcloseprivate-publicsectorcollaboration.AsthefinancialservicesindustrystrivestoembraceFintechtodeliverbetterfinancialservicesforthepeopleofHongKong,theregulatorswillseektotakeamoreproactivestanceincreatingandmaintainingamoresupportiveandsustainableecosystemthatencouragestheongoingexplorationandimplementationofthesetransformativetechnologies.

By2025,theHKMAenvisionsHongKongtobeoneoftheworld’sleadingglobalFintechhubs:ahubthatstrivesforexcellence,nurturesinnovation,promotesfinancialinclusionandfusestheknow-howoffinancialincumbentswiththenimblenessofFintechfirmstobringthenextgenerationoffinancialservicestoallindividualsandbusinessesinthecity.

HKMAFINTECHADOPTION

STUDY

Tothisend,theHKMAcommissionedKPMGandQuinlan&Associates(hereafter,"we")tojointlyreviewthecurrentstateofFintechadoptioninHongKong,withtheaimtodevelopaforward-lookingroadmapthatoutlinesthestepsnecessarytofurtherpromoteandenhanceFintechadoptioninthecity,withemphasisonthefiveFintechfocusareasmentionedabove.GiventherelevanceofthesekeyFintechverticalsandtechnologyoverlaystoboththesecuritiesandinsurancesectors,theHKMAcollaboratedcloselywiththeSFCandtheIAtocaptureabroadersetofperspectivesonindustry-specificchallengesandopportunities.

TheHKMA’sstudyrevealsthatthefinancialservicesindustryisverywellinformedandawareoftheimportanceofFintech,althoughoverarchingchallengesaroundthelackofavailabilityofdata,thelackoffundingsupportandtheshortageofFintechtalentremain.AspartoftheFintech2025strategy,theHKMAhasbeensupportingthemarketbylaunchinginitiativessuchastheCommercialDataInterchange(CDI),financingschemesandtalentprogrammes.

ThestudyalsohighlightedaclearneedformoreproactiveandpracticalsupportacrosstheFintechadoptionlifecycle(seeFigure3),particularlywhenFintechusers(i.e.financialinstitutions)aimtoacquirenewcapabilitiesthroughthird-partyFintechsolutionproviders.

UnderstandingthatawarenessisnolongeramajorhurdletoFintechadoption,aswellasacknowledgingmarket-specificneedsandtheimportanceofnurturingabalanced,mutuallybeneficialandsustainableFintechecosystem,theHKMAwilldedicateitseffortstodrivingFintechadoptionacrossthebroaderfinancialservicesindustrybyaddressingpracticalchallengesacrosstheFintechadoptionlifecycle.

FIGURE3:FINTECHADOPTIONLIFECYCLE

SOURCING

Theusersandproviders

Theusersshortlist

Bothpartiesnegotiateto

Theuserinitiatesadue

Bothpartiesensure

identifyandpresent

suitableprovidersbased

establishmutually

diligenceandonboarding

deployedFintech

eachotheraspotential

ontheirpresentedvalue

agreedcontractualterms

processwiththeprovider

solutionsarebeingwell

partners

propositions

utilised

Source:HKMA,Quinlan&Associatesanalysis

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ABRIDGETOTHEFUTURE:HONGKONGFINTECHPROMOTIONROADMAP

KeyFindings:FintechVerticals

TheindustryhasasolidunderstandingoftheFintechverticalsandisawareofthenotablebenefitsthesetechnologiescanoffer.Assuch,thereisahighlevelofinterestacrossWealthtech/Investech,InsurtechandGreentechsolutions,signifyingroomforgrowthintheadoptionandintegrationoftheseinnovativetechnologiesinthecomingyears.

WhenadoptingFintech-driveninnovation,financialinstitutionspreferin-housedevelopmentorpartiallyenhancingcapabilitiesthroughdeployingthird-partygenericsolutions(e.g.RPA)tosupporttheirexistingprocesses.Thispreferenceisfuelledbyaperceivedweaknessinthebusinesscaseformorewholesalechange,questionsaroundthequalityofsolutionsandcybersecurity/counter-partyriskconcernsassociatedwiththird-partyFintechsolutions.ForFintechsolutionproviders,extensiveonboardingprocessesareseenasthemostnotableadoptionbarrier.

BusinessreferralsarethepreferredsourcingmethodforbothFintechusersandproviders,underliningthevaluetheyplaceonrobustnetworksandrelationships.However,manyfinancialinstitutionsfinditchallengingtosourceFintechsolutionprovidersthatmeettheirhighinternalstandards,highlightingusers’needsforgreaterqualitycontrolandvalidation.Inresponse,Fintechsolutionprovidersseekmoreavenuestoshowcasetheircapabilities,indicatingthepotentialforenhancedconnectivitybetweenusersandproviders.

NotablemismatchesexistbetweentheexpectationsoffinancialinstitutionsandthecapabilitiesofFintechsolutionproviders.Financialinstitutionsoftenfindproviders'implementationabilitiesfallingshortoftheirexpectations,whileFintechsolutionprovidersarguethatthetimelinesandexpectationsoffinancialinstitutionsdonotalignwiththeiroperationalcapacities.Additionally,disparitiesincorporatematurity,organisationalprocessesandriskmanagementprotocolspresentmajorchallengestoFintechsolutionprovidersinadheringtothestringentstandardssetbyestablishedfinancialinstitutions,suchassecuringthird-partyaccreditations,amongotherrequirements.

Beforedeployingsolutionsintheirday-to-dayoperations,financialinstitutionsseekadeeperunderstandingofthetechnology,enhancedemployeetrainingandaconvincingbusinesscase.Fintechsolutionproviders,meanwhile,strivetoshowcasetheirsolutions'capabilitiesandeducatefinancialinstitutionsontheirbusinesscase.ThismutualquestforunderstandingunderscorestheimportanceofeducationandclearcommunicationinadvancingFintechadoption.

KeyFindings:TechnologyOverlays

A.I.andDLTholdthepotentialtoenhancenotonlytheefficiencyandcompetitivenessoffinancialinstitutions,butalsothequalityofWealthtech/Investech,InsurtechandGreentechsolutions.TheTechBaselineAssessment,however,indicatesthereisstillroomforgrowth.Forexample,althoughsupervisedlearningmodelsremainthemostwidelyusedinA.I.,moreadvancedmodels(e.g.GenA.I.)couldbemorevigorouslypursued.DLT,ontheotherhand,offersvastopportunitiesforadiverserangeofapplications,includingcentralbankdigitalcurrencies(CBDCs),DecentralisedFinance(DeFi)andtokenisationoffinancialassets,supportingstreamlinedfinancialsettlementsandtheprovisionofamorecyberresilient"goldensourceoftruth".

Theadoptionofthesetechnologies,however,isnotwithoutchallenges.Keyhurdlesinclude(1)alackofcomprehensiveunderstandingofthetechnologyoverlays,(2)regulatoryuncertainties,(3)implementationconsiderations,specificallyconcerningsecurearchitecture,dataprivacyanddatasharing,and(4)theabsenceofcompellingbusinesscasesthatcansubstantiatetherequiredinvestments.

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RECOMMENDATIONS

Buildingonitssuccessinenhancingthemarket’sawarenessofFintech,aswellasitsexperiencesgainedfromexecutingpastinitiativestodriveFintechadoption,theHKMA,withthehelpofKPMGandQuinlan&Associates,hasdevelopedanewFintech

PromotionRoadmap(seeFigure4).GuidedbytheinsightsobtainedfromtheHKMAFintechAdoptionStudy,theHKMAplanstofurtherfine-tuneanddeepenitseffortstopromotegreateradoptionacrossthefiveFintechfocusareasidentifiedintheTechBaselineAssessment.

FIGURE4:FINTECHPROMOTIONROADMAP&KEYDIFFERENCES

Roadmap

MovingForward

RoadmapExecution

RoadmapLaunch

1.Fintech

Knowledge

Hub

2.Fintech

Spotlight

(i.e.Videoseries)

3.FintechShowcase&Roundtable(i.e.DemoandMatchmakingsessions)

Future

Considerations

4.BestPracticeGuidance

5.ResearchProjects

6.Webinars/ Seminars

7.TrainingSessions

•Build

momentum

withthe

Roadmap

launch

•PracticalimplementationofFintechthroughaseriesofface-to-face/hybrideventsandprojects,posttheFintechPromotionRoadmaplaunch

•PromotethedevelopmentoftheidentifiedFintechbusinessareasandtechnologytypes

•OtherinitiativestocontinueHKMA’sFintechjourneybeyondthe

Roadmap

•Sustainable

growthand

continuetoevolveFintechadoption

INITIATIVE1

CurrentStateRecommendationsoftheRoadmap

REGTECHKNOWLEDGEHUBFINTECHKNOWLEDGEHUB

Objective

Focus

TopicScope

TargetAudiencePublications

Awareness–InformationrepositoryformarketupdatesEducational–News,events,guidance,circulars,etc.

Specific–Regtech;riskmanagementandcomplianceOne–sided–Fintechusers

Exclusive–MostlyfeaturescontentpublishedbytheHKMA

Adoption–Collaborativeplatformforfosteringconnection

Practical–Directory,Fintechacademyandmanymorethataddressadoptionchallenges

Comprehensive–FiveFintechfocusareas;end–to–endprocessesTwo–sided–Fintechusersandproviders

Shared–MayfeatureproprietaryorjointcontentfromCyberport,HKSTPandFTAHK

INITIATIVE2REGTECHVIDEOSFINTECHSPOTLIGHTVIDEOS

Objective

Focus

TopicScope

Perspective

Awareness–RaiseawarenessandenhanceunderstandingoftheFintechsolution

Informational–Venturejourney,commonobservations,potentialbenefits,etc.

Specific–Regtech;riskmanagementa