Financial Technology in Hong Kong

Financial technology (FinTech) has significant promise for the supply of financial services, from decreased transaction costs to improved access to financial services and has been one of the driving forces behind developments affecting the financial industry over the past ten years.

Market structure, competition, and financial stability may be impacted by fintech. These factors are leading to heightened supervisory scrutiny of technology-driven innovation in the financial services sector. For policymakers, the task is to maximize FinTech's advantages while minimizing potential threats to the financial system. To ensure that innovation may benefit society and promote economic progress without jeopardizing systemic stability, it is imperative to strike this balance.

1

To clearly appreciate the advantages, difficulties, and risks associated with the adoption of fintech in the Hong Kong's financial services sector, as well as to comprehend the demand side of talent development, it is important to conduct comprehensive research on the topic the benefits, challenges and risks of fintech adoption and the demand for talent in Hong Kong.

You are expected to answer the following questions in your project. Word limit: 600 words

I. Discuss the recent developments of fintech in the banking sector and the strategies to drive fintech development in Hong Kong.

II. Examine the benefits, challenges and risks of Fintech adoption in Hong Kong.

III. Discuss the most crucial factors required in attracting and retaining talent in Hong Kong.