HKSTP Encapsulating Capabilities at FinTech Week 2024 As Financial Secretary Visits HKSTP Pavilion Prior to the Middle East Delegation
Inclusive of a spectrum of fintech sectors, market-ready solutions of 41 startups gained traction from over 30 corporate partners at more than 100 business matching sessions, potential investors through immersive networking set-up, the exhibition received visits from government officials and regulators, as Mr Paul Chan, Financial Secretary acknowledged a Park company putting AI in the works of streamlining financial activities, and applauding the achievements HKSTP has made in nurturing the I&T ecosystem, illustrating the importance of cross-industry collaboration impacting commercialisation and cultivation of fintech, while pioneering transformation towards a digital economy.
"Alliances are forged, not forced," said Eric Or, Acting Chief Corporate Development Officer and Head of Ecosystem Development of HKSTP, at the "Hong Kong & the Middle East: Forging Alliances for Future Growth & Fintech Expansion" panel discourse, continued to highlight "we signed a MoU with the local science park KACST earlier this year, and we aim to collaborate with even more parties, from government departments to private companies, for insights brought on the minds and monies that are making the Middle East market influential to our exchanges in advancing fintech developments."
Efforts seen among financial services and technology accelerators in the city echoed the sentiment, as Hong Kong Monetary Authority (HKMA) introduced Interbank Account Data Sharing (IADS), 28 participating banks are in support of the program, where HKSTP is launching in collaboration of the IADS Developer Platform, and more initiatives are gradually in place to demonstrate fintech excellence and commitment to sustainability.
The showcase featured ClusterTech displaying PRISMA, trusted by HKMA and other banking, financial services and insurance (BFSI) organisations with concerns over data privacy and security, is an analytical social listening solution that facilitates risk assessment and compliance management, with its natural language processing (NLP) and machine learning capabilities; and patented fintech by On-us that provides an integrated option encouraging consumer engagement with a performance-based model, enabling data-driven insights for a diverse clientele and industry leaders including VISA, the solution attracts collaboration opportunities alike.
Spotlight was brought among other tech ventures at the HKSTP Pavilion, with ATG and GF Lab introduced digital healthcare experiences to the InsurTech sector; PerformVE and PerksBar were advocating workplace wellness with their AI-driven talent engagement platforms; while ClusterTech and FCC Analytics could turn sets of data into suggestions; AiFin and D-engraver provided compliance alternatives with privacy protection as priorities. The selection of fintech solutions prospects in bringing investment opportunities to the innovations, and bolstering fintech adoption in Hong Kong.
More information about HKSTP is available at www.hkstp.org.
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