As a FinTech partner at this year’s Hong Kong FinTech Week (HKFW), Cyberport along with close to 50 FinTech start-ups and community companies participated in the city’s renowned FinTech mega event showcasing tech innovations and new initiatives.
Cyberport announced the launch of the Fintech Supervisory Sandbox 3.1 Pilot (FSS 3.1 Pilot) in collaboration with the Hong Kong Monetary Authority (HKMA) at the occasion. The FSS 3.1 Pilot provides development-stage funding support for financial technology projects that were approved and completed under last year’s FinTech Proof-of-Concept (PoC) Subsidy Scheme, with the aim to expedite the commercialisation and wider adoption of high potential projects which fit into the HKMA’s regulatory mandate. The projects must include Cybersecurity, RegTech or Risk Management in scope, and must address a practical issue or pain point faced by the banking industry with no prior use case in the market. Each approved project will be granted a subsidy of up to HK$500,000.
Peter Yan, CEO of Cyberport, said Cyberport has been working closely with the HKMA to dovetail its ‘Fintech 2025’ strategy, such as AML Regtech Lab, Fintech Career Accelerator Scheme (FCAS) and promote central bank digital currency. He believed the FSS 3.1 Pilot would enhance partnership between banks and start-ups, accelerate commercialisation of their solutions, and facilitate the digital transformation in banking sector. For details and application, please visit https://fss2022.cyberport.hk/en/
Cyberport also welcomed the Government’s statement regarding the policy stance and approach towards the development of virtual assets (VA), which announced a public consultation on the scope of VA retail investment products and affirmed its determination to promote financial innovation and create a facilitating and sustainable environment for FinTech development.
As Hong Kong’s FinTech hub, Cyberport believes the Government’s announcement and the series of relevant measures and subsequent pilot schemes to be implemented will enable the FinTech community to unleash its potential under a regulatory environment with more clarity and agility and expand business opportunities for Hong Kong as a whole, thereby consolidating Hong Kong’s position as an international financial hub.
Cyberport also hosted and attended various sessions at HKFW with a focus on innovation in corporate financing and talent cultivation in FinTech. Cyberport start-ups ALTIVE, Wizpresso and Choco Up exchanged views on how technologies have gradually emerged to transform the capital market ecosystem.
The result of the Hong Kong FinTech Talent Study to examine the FinTech sector’s demand for FinTech talent in Hong Kong, conducted in collaboration with the University of Hong Kong – Standard Chartered Hong Kong 150th Anniversary Community Foundation FinTech Academy (HKU-SCF FinTech Academy) and the Hong Kong Productivity Council, was also released during HKFW. Click HERE for full report.
