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78.1

Fintech Facilitation Office (FFO)

Fintech is driving innovation in financial services globally and changing the nature of commerce and end-user expectations for payments and financial services.  In order to support the sustainable development of the fintech industry in Hong Kong and to keep the public confidence in fintech services and the banking system, it is crucial for the banking sector to maintain a high level of cybersecurity and data security.

Against this background, the concept of fintech – the integration of finance and technology in modern-day style – has evolved to become a vibrant industry.  While fintech may carry different meanings, it is now commonly considered to cover areas such as payments, Big Data analytics, applications, platforms and cybersecurity. It is important to understand the benefits and risks brought by fintech, and to support its healthy development. 

In light of these developments, the HKMA has established a Fintech Facilitation Office (FFO) to facilitate the healthy development of the fintech ecosystem in Hong Kong and to promote Hong Kong as a fintech hub in Asia. 

Among other things, the new office acts as
(i) a platform for exchanging ideas of innovative fintech initiatives among key stakeholders and conducting outreaching activities;
(ii) an interface between market participants and regulators within the HKMA to help improve the industry’s understanding about the parts of the regulatory landscape which are relevant to them;
(iii) an initiator of industry research in potential application and risks of fintech solutions; and
(iv) a facilitator to nurture talents to meet the growing needs of fintech in Hong Kong.

To promote a closer dialogue between the FFO and the market participants and interested parties, a dedicated email account (fintech@hkma.gov.hk) has been set up.  We hope that we can hear your views, or help you better understand the regulatory landscape for the banking and payment services in Hong Kong.

Notices and Updates

20 Sep 2017 Press Release: Cyberport and HKMA lead Hong Kong’s largest FinTech Delegation to London
28 Aug 2017 inSight: One Year On since SVF Licences were First Granted
28 Jul 2017 R&M Column: Fintech Interns Report for Duty (Chinese Version Only)
27 Jul 2017 Press Release: Fintech Career Accelerator Scheme Induction Day
14 Jun 2017 inSight: FinTech vs TechFin
2 Jun 2017 Press Release: HKMA visits Fintech Firms in Shenzhen
2 Jun 2017 R&M Column: Hackathon (Chinese Version Only)
31 Mar 2017 R&M Column: Blockchain and Mahjong (Chinese Version Only)
27 Mar 2017 Speech: Opening Remarks at Hong Kong ICT Awards 2017: Best Fintech Award Presentation Ceremony (Chinese Version Only)
by Norman T.L. Chan, Chief Executive, Hong Kong Monetary Authority
10 Mar 2017 R&M Column: Financial Inclusion - Video Teller Machine (Chinese Version Only)
3 Mar 2017 R&M Column: Fintech Supervisory Sandbox (Chinese Version Only)
22 Jan 2017 inSight: Fintech Career Accelerator Scheme (FCAS) Information Day
21 Dec 2016 Guidelines and Circular: Cybersecurity Fortification Initiative
16 Dec 2016

Press Release: The HKMA and ASTRI Launched the Fintech Career Accelerator Scheme (FCAS)

An Overview of Fintech Career Accelerator Scheme

16 Dec 2016

Speech: The Launching Ceremony of the Fintech Career Accelerator Scheme (FCAS)(Chinese Version Only)
by Norman T.L. Chan, Chief Executive, Hong Kong Monetary Authority

7 Dec 2016

Press Release: Co-operation Agreement between the Hong Kong Monetary Authority and the Financial Conduct Authority on fintech co-operation

11 Nov 2016

Whitepaper On Distributed Ledger Technology

11 Nov 2016 inSight: Multifaceted Development of Fintech (Chinese Version Only)
11 Nov 2016 Speech: HKMA Fintech Day
by Norman T.L. Chan, Chief Executive, Hong Kong Monetary Authority
10 Nov 2016

inSight: The Fintech Day

21 Sep 2016
6 Sep 2016
6 Sep 2016
14 Jul 2016
16 Jun 2016
24 May 2016
18 May 2016
18 May 2016
18 May 2016
12 May 2016
21 Mar 2016
21 Mar 2016
Last revision date: 20 September 2017
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