Underlines HSBC’s dedication to driving FinTech innovation and strengthening Hong Kong’s position as an international financial center, as well as HKUST’s commitment to supporting digital development of industries by creating and sharing knowledge
HSBC and the School of Business and Management at the Hong Kong University of Science and Technology (HKUST Business School) today (14 October 2022) announced a strategic partnership that aims to accelerate the bank’s digital journey, and facilitate FinTech talent development in the bank and in Hong Kong with a commitment of HK$10 million from HSBC.
The partnership will explore innovative solutions for the future, using the latest technologies incubated in joint research projects. Academic researchers and professors from HKUST will work on use cases together with subject matter experts from HSBC expected to be completed by 2024. Technologies, such as artificial intelligence (AI), quantum computing in financial applications, will be explored to develop solutions that can transform our interactions along the customer journey and ultimately improving the customer experience. In addition, the program will also conduct a central bank digital currency (CBDC) proof of concept research that can measure insights for future developments in digital currency in Hong Kong.
David GRIMME, Chief Operating Officer, HSBC Asia-Pacific, said: “Accelerating digital transformation is key to unlocking HSBC’s competitiveness and long-term development. By leveraging the world-class education and research of HKUST, we are confident that this partnership will not only will nurture potential talent within HSBC via leadership training modules and among younger generations in Hong Kong, but also inspire the industry in the digital era by deploying cutting-edge technology derived from FinTech insights.Going forward, HSBC will continue to embrace emerging technology, develop a future-ready workforce , and more importantly, help strengthen Hong Kong’s position as a global financial center and FinTech innovation hub.”
Professor TAM Kar Yan, Dean of the HKUST Business School, said: “Our school believes that joint efforts by the government, regulators, industry and academia are essential to develop Hong Kong as a leading global FinTech hub. We are delighted to join together with HSBC, one of the world’s largest banking and financial services organisations, to unlock new FinTech opportunities for the banking industry, from solving complex banking problems to informing policy-making and helping bank leaders stay at the forefront of technology and innovation. We look forward to create greater collective impact by utilizing HKUST’s strengths in FinTech as well as the bank’s strong international brand and ability to create new opportunities in the digital age.”
Professor TAM Kar Yan, Dean of HKUST Business School (right), and Goska GRABEK, Chief of Staff, COO Asia Pacific Office, HSBC (left), signed a cooperation agreement for a partnership to accelerate fintech development in Hong Kong.
HSBC and HKUST join forces to accelerate fintech development in Hong Kong.
Hong Kong and Shanghai Banking Corporation Limited
The Hong Kong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves clients worldwide from offices in 63 countries and territories in its geographic regions: Europe, Asia, North America, Latin America and the Middle East and North Africa. With assets of USD 2.985 billion as at 30 June 2022, HSBC is one of the largest banking and financial services organizations in the world.
About HKUST Business School
HKUST Business School is young, innovative and committed to promoting global business knowledge. The school has established an international reputation for world-class educational programs and research results, and has received many global top rankings. For more information about the school, please visit //bm.hkust.edu.hk.
