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08.07.2021

[eNews] Home Team Triumphs in the HKUST International Case Competition 2021

Between June 6 and 10, the signature HKUST International Case Competition 2021(HKICC) returned after a two-year hiatus with nine ambitious business undergraduate teams participating in the competition.

This year, HKICC was sponsored by WeLab Bank – a pioneering virtual bank from Hong Kong – and entries were open to leading universities in Asia, Europe, and North America. Due to travelling and social distancing restrictions at the time, overseas entries applied via a new digital applications system.  

During the final round of the competition, finalist teams formulated and presented strategic recommendations to address real challenges that WeLab Bank faced. Each team also had to devise actionable plans for market penetration, new products and services, sustainable growth, risk management, and profitability. The teams relied on their analytical and quick problem-solving skills to answer questions from the judging panel consisting of experienced executives from the bank and the industry.

The competition was won by HKUST’s team Nova Consulting, followed by the University of British Columbia in the second place and Thammasat University in the third place.

The HKUST team members were Andrew KONG, Heywood CHAN, LEE Chun Yikk, and Cathy CHAN, who demonstrated extensive insight, imagination, and appreciation of the bank’s practical challenges. Their presentation also showed great potential to help the company expand its services and establish market shares in a fast-evolving and highly competitive environment.

Nova Consulting was advised by Alice LUI, Manager of the Global Business Program at HKUST, and Adjunct Associate Professor Chris DORAN. They helped the team enhance their analytical skills through professional insights and training before the competition. “The competition was a great experience for all of us,” said Kong, spokesperson for Nova Consulting. “We are very grateful to our professors, advisors, and the organizers for making the event possible.”

“The competing teams should be proud of what they have accomplished,” remarked Tat LEE, Chief Executive of WeLab Bank and an HKUST alumnus. “I hope that, in addition to learning more about WeLab Bank, students can also have an understanding of the virtual banking and the financial services landscape in Hong Kong.”

Congratulations to all winning teams!

(From left) The winning team: Andrew Kong, Heywood Chan, Lee Chun Yikk, Cathy Chan, and their advisor Alice Lui


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