Fintech Knowledge Hub

This Fintech Knowledge Hub acts as a central repository of Fintech-related content and knowledge sharing within the Fintech ecosystem. The Hub hosts Fintech publications, use cases, news, and other important information from the HKMA as well as other participants in the Fintech community.

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HKMA's Fintech Initiatives
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  • The HKMA's Fintech Promotion

    In 2017, the HKMA launched seven Smart Banking initiatives. Under the Banking Made Easy initiative, the HKMA launched a series of activities in 2018 to facilitate Regulatory technology (Regtech) development in Hong Kong, after recognising the growing importance of it. Since then, notable progress has been made due to the collaborative efforts of the banking industry, the technology community and other stakeholders. To further promote wider use of Regtech, the HKMA developed a two-year roadmap to promote Regtech adoption in the Hong Kong banking sector, as laid out in a White Paper entitled "Transforming Risk Management and Compliance: Harnessing the Power of Regtech" in November 2020.

    In 2021, it unveiled its "Fintech 2025" strategy to drive fintech development in Hong Kong. Building on this momentum, the Fintech Promotion Roadmap was launched in 2023 to promote Fintech adoption in Hong Kong, as outlined in the “A Bridge to the Future: Hong Kong Fintech Promotion Roadmap” report. This Fintech Knowledge Hub is one of the initiatives in the roadmap.

  • Soft Infrastructure

    Superior soft power of the financial industry is an important attribute that helps maintain Hong Kong’s competitive edge as a world class brand for financial services. The HKMA attaches great importance to the soft infrastructure of the industry and has rolled out various initiatives in promoting soft power upgrading in a sustainable manner.

    Enhanced Competency Framework (ECF)
    In order to support capacity building and talent development, the HKMA is working with the banking industry and relevant professional bodies to implement an industry-wide Enhanced Competency Framework (ECF) for Banking Practitioners.

    Industry Project Masters Network (IPMN)
    Under the “Fintech 2025” strategy, the Industry Project Masters Network (IPMN) scheme aims to groom fintech talent by providing opportunities to postgraduate students for them to work on banks’ fintech or industry projects and gain hands-on experience and skills. Piloted in September 2021, the scheme was officially launched in September 2022.

  • Hard Infrastructure

    Hard infrastructure includes the set of facilities and systems that has been set up to promote innovation and encourage the development of Hong Kong’s Fintech ecosystem.

    Commercial Data Interchange (CDI)
    Commercial Data Interchange (CDI) is a next-generation financial data infrastructure that aims to enable more efficient financial intermediation in the banking system and enhance financial inclusion in Hong Kong.

  • Sandbox

    Sandbox environments can encourage the development of Fintech by allowing a closed testing environment before being fully deployed and extending the regulatory flexibility for Fintech companies.

    Generative Artificial Intelligence (GenA.I.) Sandbox
    The GenA.I. Sandbox, launched by the HKMA in September 2024, aims to provide a risk-controlled environment for Authorized Institutions (AIs) to develop, test, and pilot innovative artificial intelligence-based solutions in real-world banking scenarios. The new GenA.I. Sandbox is a pioneering initiative that promotes responsible innovation in GenA.I. across the banking industry. It will empower banks to pilot their novel GenA.I. use cases within a risk-managed framework, supported by essential technical assistance and targeted supervisory feedback. Banks are encouraged to make full use of this resource to unlock the power of GenA.I. in enhancing effective risk management, anti-fraud efforts and customer experience.

    Fintech Supervisory Sandbox (FSS)
    The Fintech Supervisory Sandbox (FSS), launched by the HKMA in September 2016, allows banks and their partnering technology firms (tech firms) to conduct pilot trials of their fintech initiatives involving a limited number of participating customers without the need to achieve full compliance with the HKMA's supervisory requirements.

    SFC Regulatory Sandbox
    The SFC Regulatory Sandbox (Sandbox) is established to provide a confined regulatory environment for qualified firms to operate regulated activities under the SFO before Fintech is used on a fuller scale. The Sandbox would enable qualified firms, through close dialogue with and supervision by the SFC under the licensing regime, to readily identify and address any risks or concerns relevant to their regulated activities.

    Insurtech Sandbox
    The development of Fintech is important in strengthening the role of Hong Kong as an international financial centre. The IA launched an Insurtech Sandbox on 29 September 2017 to facilitate a pilot run of innovative Insurtech applications by authorized insurers to be applied in their business operations.

Contribute

We welcome content (research reports, use cases, and events, etc.) submissions from the Fintech community. If you would like to contribute to the Fintech Knowledge Hub, please refer to the notes regarding content submission and Personal Information Collection Statement.

Last revision date : 13 January 2025