Welcome Remarks at 2026 Fintech Innovation Lab APAC Welcome Reception

1. Good evening, everyone. A very warm welcome to our office.
2. On behalf of the Hong Kong Monetary Authority, I want to thank Accenture and Cyberport for co-hosting the Fintech Innovation Lab APAC 2026 (FILAP) with us once again.
3. Thirteen years is a fantastic run. Over that time, FILAP has turned into something much bigger than a startup accelerator.  It has become a crucial bridge, one that connects new ideas directly with the day-to-day reality of operating a bank in Asia.  Looking around the room tonight, it's clear how much momentum there is behind this year's cohort.

Technology and Business-Model Transformation

4. We're all seeing how fast fintech is moving. With A.I., agentic tools, and data capabilities, the way banks operate businesses, manage risk, and serve customers, is changing.
5. With the HKMA’s encouragement, banks are proactively reimagining their business models for the years ahead. Data and technology will be key enablers, creating new opportunities to modernise banking as a service.

Opportunities for Fintechs

6. The question then, is how technology companies can become part of that journey. This year’s cohort offers some useful insights.
7. The solutions presented here show the range of value that tech firms can bring. Some can help banks turn documents and market information into more timely insights for investment decisions, risk management, and sustainable-finance assessments. Others can help banks enhance existing capabilities without replacing core systems. And some solutions create more seamless journeys in areas like insurance.
8. Together, these can be important building blocks for the next generation of banking and finance, helping institutions streamline operations, strengthen controls and develop new services.
9. But technology is not the only building block. Bringing new capabilities into a bank’s business model requires trust. And trust is the foundation of banking.
10. For fintechs, you are being more than a technology provider.  You are becoming a trusted partner that understands a bank’s strategic priorities, its customers’ needs and the realities of a regulated environment.  The key question is not simply, “What can this technology do?”  It is also “What value can it create for a bank and its customers?”, and therefore, “What it takes for a bank to use my tech solutions with confidence?”

Enabling Trusted Innovation

11. The greater use of technology brings new opportunities as I have just highlighted. In reality, new technology will also bring new forms of operational and cyber risks.  And it raises important questions about data quality and privacy, governance and accountability.
12. The HKMA’s latest Tech Maturity Stock-take showed that about three-quarters of institutions have identified key risks associated with new technology, including security vulnerabilities, operational disruption and regulatory compliance. Data privacy and cybersecurity were also identified as major challenges by over 60% of surveyed banks.
13. For banks, assessing a new solution goes well beyond functionality. Banks will also consider whether data is protected, whether outputs are reliable, and whether the provider has sound governance, cybersecurity and operational-resilience arrangements in place.  These are the foundations for trust in a new partner.
14. This is relevant to many of the capabilities represented in this year’s cohort. Solutions that enable the use of data for A.I. need robust privacy and data-quality controls.  Tools that turn unstructured documents or market information into insights need appropriate governance and oversight.
15. Addressing these issues early can help fintechs move more smoothly from proof of concept to deployment.
16. This is why responsible innovation is at the heart of the HKMA’s Fintech 2030 strategy. For innovation to be adopted in banking, it must be trusted, resilient and capable of operating reliably in scale.  Data excellence and cyber resilience are two essential foundations for this.
17. The HKMA is therefore working closely with the industry association to formulate a Fintech Cybersecurity Baseline. This baseline will provide tech firms with a useful reference point on the cybersecurity capabilities expected of solutions that support the banking sector.
18. These foundations do not slow down innovation. They give banks the confidence to use new solutions more widely and deeply.

Building Partnerships for Adoption

19. This is also where FILAP can make a real difference.
20. FILAP gives tech firms the opportunity to test their ideas against real-life banking needs. It also brings together the ecosystem: tech firms bring innovation and agility; financial institutions bring customer, market and operational insight; Accenture, Cyberport and other partners bring expertise and platforms for engagement.
21. The HKMA’s role is to join and support this ecosystem, facilitate dialogue, and provide clarity on the attributes to responsible innovation in banking and the wider financial sector.
22. The roundtable hosted by the HKMA with this year’s cohort will support engagement with different teams across banks.  It will be an opportunity to exchange practical experiences and challenges, and share perspectives on what banks will look at when considering a new tech solution.

Closing

23. To those joining FILAP this year, I hope the coming months will be a valuable opportunity to build connections, learn from potential users, and develop solutions that make a real difference.
24. The HKMA promotes responsible innovation and our banking sector is set for transforming business models to embrace technological change. But what remains unchanged is our commitment to trust, resilience and good customer outcomes.  With a common purpose, we can turn promising ideas from this cohort into practical solutions that benefit institutions, their customers and the wider fintech ecosystem.
25. I wish you all a very enjoyable evening and fruitful journey ahead. Thank you.