The Hong Kong Monetary Authority (HKMA) and the School of Business and Management of the Hong Kong University of Science and Technology (HKUST Business School) today (29 May) announced the signing of a Memorandum of Understanding (MoU) to strengthen collaboration in applied cybersecurity research tailored to the needs of Hong Kong’s financial sector.
The MoU establishes a strategic framework for joint efforts to advance research and knowledge in the critical area of cybersecurity. It aims to develop practical applications, raise awareness of emerging threats, and foster specialised talent to support the financial industry’s continuous development.
Through this partnership, the HKMA and the HKUST Business School will jointly explore innovative supervisory technology (Suptech) and regulatory technology (Regtech) solutions, leveraging cutting-edge technologies such as the latest large language models. These solutions are expected to help further enhance the HKMA’s supervisory capabilities and improve the cybersecurity resilience of the financial sector. To ensure the research remains relevant to the current and emerging cybersecurity challenges facing the industry, the HKMA and the HKUST Business School will actively engage with financial institutions to validate research outcomes and gain deeper insights into the sector’s evolving cybersecurity needs and challenges.
Ms Carmen Chu, Executive Director (Banking Supervision) of the HKMA, said, “Cybersecurity is a key aspect for the digitalisation of banking services. This partnership will leverage the HKMA’s supervisory experience and the HKUST Business School’s academic expertise to address evolving cyber threats to our banking system, thereby safeguarding Hong Kong’s financial stability and integrity.”
Professor Hui Kai-Lung, Acting Dean of the HKUST Business School, added, “We are delighted to join forces with the HKMA on this forward-looking initiative. By combining our research capabilities with the HKMA’s regulatory insights, we aim to co-develop impactful solutions that address real-world cybersecurity challenges and contribute to the resilience of Hong Kong’s financial ecosystem.”
Hong Kong Monetary Authority
29 May 2025
Ms Carmen Chu (left), Executive Director (Banking Supervision) of the Hong Kong Monetary Authority, and Professor Hui Kai-Lung (right), Acting Dean of the School of Business and Management of the Hong Kong University of Science and Technology, sign a Memorandum of Understanding to advance cybersecurity research for the financial sector.
