[eNews] Fintech Talent Development, Competency, and Manpower Study

With the rise of virtual banks, e-commerce, cashless payments and more, the fintech industry plays an increasingly important role in the management and movement of our finances. However, Hong Kong currently faces a shortage of fintech talent to meet with industry demands in the years ahead.

Earlier last month, the HKUST Business School launched the Fintech Talent Development, Competency, and Manpower Study — an industry-wide study that addressed the growing demand for fintech talent in Hong Kong — at an exclusive webinar for industry stakeholders. The study involved the collaboration and participation of 80 fintech organizations.

The findings released during the webinar were presented in collaboration with Ernst & Young. This webinar provided a thought-provoking panel discussion and featured Professor TAM Kar Yan, Project Leader of the study and Dean of HKUST Business School; Nelson CHOW, Chief Fintech Officer for the Hong Kong Monetary Authority (HKMA); Jeff TANG, Partner, Ernst & Young People Advisory Services; and Peter YAN, CEO of Cyberport Hong Kong. 

To reach a wider audience, a second public webinar was held jointly with InvestHK and ASTRI the same week. The webinar explored Future Work in Fintech and shared findings of the study. Speakers included Professor Tam and Nelson Chow as well as Hugh CHOW, CEO of ASTRI; Dr. Lucas HUI, CTO of ASTRI; Angus Choi, CEO of Jetco; and King Leung, Head of Fintech of InvestHK.

This year has posed numerous uncertainties for our future. Due to COVID-19 disruptions, the demand for all things digital including fintech, has reached an all-time high. What are the specific skills and traits required for the industry? How can Hong Kong develop and recruit talent as a global hub?

Looking to facilitate the industry, educators, and policymakers to support Hong Kong in transforming into a global fintech hub, the study explored ten observations about the industry. It suggested ten recommendations related to talent development, as well as identified 13 core competencies for fintech professionals that are relevant to Hong Kong’s unique context.

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