Register a company in the United Kingdom and get a Payoneer account in just 3 days!
Hong Kong’s Financial Authority Launches FiNETech for Fintech Innovation
The Hong Kong Monetary Authority (HKMA) has launched its inaugural FiNETech series to drive deeper collaboration within the fintech space. This initiative brings together roughly 100 organizations across banking, securities, insurance, and technology industries. The platform spotlights key fintech areas including Wealthtech, Insurtech, Greentech, Artificial Intelligence (AI), and Distributed Ledger Technology (DLT).
FiNETech aligns with the HKMA’s “Fintech 2025” strategy, seeking to capitalize on the growth potential of five key fintech sectors and technologies. The initiative aims to benefit the financial services sector with an expanded network of local fintech solutions, providing financial institutions direct access to the latest sourcing options within the technology community.
With backing from financial regulators, industry associations, and technology groups, FiNETech also empowers financial institutions and their tech partners to interact with the Hong Kong Monetary Authority’s Fintech Supervisory Chatroom. This facilitates open discussions about innovative fintech concepts. For pre-implementation testing and early supervisory guidance, the HKMA’s Fintech Supervisory Sandbox 2.0 is available, interconnected with other financial regulators’ sandboxes.
Over the next 6-12 months, the HKMA will broaden FiNETech’s scope to include AI (particularly Generative AI), DLT, and Greentech, with more sessions and collaborations planned. This expansion will drive tangible fintech adoption by banks and financial institutions, track innovative use cases, share industry best practices, and provide practical guidance aligned with global trends and international experience.
Featured image credit: HKMA
International Fintech Business (IFB), can help you enter the fintech industry. We can help you incorporate a company with a financial license in any jurisdiction, including Hong Kong, or buy an existing company. Our experts can help answer any questions you may have. Contact us today!
