The FinTech Revolution
Hong Kong is one of the most influential financial centres in the world. Many FinTech startups and established financial companies identified Hong Kong’s unique and important position for penetrating the APAC market and carrying out key strategies of their businesses. Hong Kong has an enabling environment for the deployment of financial technologies in the digital age. Its highly efficient infrastructure in IT, free flow of capital, transparent financial regulation, and independent judiciary are advantages which put Hong Kong at the forefront as an Asia-Pacific hub for FinTech and financial digitalisation.
Hong Kong is among the world’s top ten financial hubs, and the following indicators show the demand for FinTech talents in the interdisciplinary context:
- Hong Kong is ranked 5th in digitalisation of the traditional financial sector and the percentage of its FinTech users in Hong Kong reached 35.1% (2018 Global FinTech Hub Report by Cambridge Judge Business School).
- The consumer FinTech adoption rate reached 67% in Hong Kong (Ernst & Young Global FinTech Adoption Index 2019).
- The Hong Kong Monetary Authority (HKMA) has granted 8 virtual bank licenses since March 2019. Virtual banking will spur innovation and development of Hong Kong FinTech, and enhance customer experience and financial inclusion.
- Hong Kong FinTech Week, the annual flagship FinTech event in Asia hosted by InvestHK, drew more than 12,000 attendees, 50 exhibitors and 18 trade delegations in 2019.
Successful graduates from the MFFinTech programme will enjoy a competitive advantage in a wide range of career opportunities in various fields:
- Brokerage and investment firms
- Commercial and investment banks
- Consulting and accounting firms
- FinTech startups
- Insurance companies
- Private equity and venture capital firms
- Regulatory agencies
- Technology and internet companies
- Treasury departments of non-financial corporations
Extracts from Market Surveys on demand of FinTech talents
"Inability to recruit and retain people with the right skillset is another barrier to creating an innovative culture. 87% of Hong Kong executives surveyed said they find it "moderately difficult" or "very difficult" to hire and retain people with the right skillset to innovate."
PwC Hong Kong FinTech Survey 2017
"Within the financial services industry, the rapid progress of FinTech and digitalisation drives demand for talent specialised in cyber security, data analysis and blockchain to a record high. Beyond financial services, professionals experienced in e-commerce, artificial intelligence (AI), digital marketing, blockchain, web development and machine learning are sought after a range of sectors including technology, sales and marketing, supply chain and logistics."
Robert Walters' Hong Kong Technology Salary Survey 2019