A Synergistic Partnership between Academia and Industry to Steer FinTech Development and Groom World-Class Talents
The University of Hong Kong (HKU) and Standard Chartered Bank (Hong Kong) Limited are proud to jointly announce the establishment of The University of Hong Kong – Standard Chartered Hong Kong 150thAnniversary Community Foundation FinTech Academy (HKU-SCF FinTech Academy) with a generous support of HK$60 million from the Standard Chartered Hong Kong 150th Anniversary Community Foundation (SCF).
Leveraging the combined strength of academics and industry to enhance and expand the way FinTech is taught, researched, and innovated, the HKU-SCF FinTech Academy is hosted by the Department of Computer Science of the Faculty of Engineering and strongly supported by the Faculty of Law and the Faculty of Business and Economics. It aims to stimulate cutting-edge research and teaching of information technology in financial services, and make a sustainable impact on the financial services sectors of Hong Kong and the Greater Bay Area.
The HKU-SCF FinTech Academy will nurture talents through the recently launched Bachelor’s degree in Financial Technology [(BASc (FinTech)] and a brand-new interdisciplinary Master’s degree in Financial Technology in 2021. This will increase the annual intake to meet the dual demands of students and industry. In the next five years, the HKU-SCF FinTech Academy will gear up nearly a thousand FinTech professionals to tackle disruptive technologies, creating a tangible and lasting impact on the banking and financial industry. The partnership and funding provided through the HKU-SCF FinTech Academy will strongly facilitate HKU’s research in FinTech.
“The fast pace of change in FinTech has been impacting not just the business model of banks, but also the talents required for realising the Smart Banking ambitions for Hong Kong. Standard Chartered is proud to steer the co-creation of the FinTech Academy between HKU and SCF to cultivate future-fit talents and upskill bankers with disruptive technologies to capture the immense opportunities. We feel very excited about this pioneering partnership with HKU that will transform Hong Kong’s banking industry and the wider financial ecosystem ahead of the FinTech era.” Ms Mary Huen, CEO, Hong Kong, Standard Chartered; and Trustee, Standard Chartered Hong Kong 150th Anniversary Community Foundation.
“With the continuous advancement of technology, the financial industry is evolving dynamically and the next wave of disruption is coming. HKU has first-class FinTech research teams across the Faculties of Engineering, Law, and Business and Economics, working synergistically in various areas including blockchain, cybersecurity, regulatory technology, AI and big data analytics. The HKU-SCF FinTech Academy will be a centre of innovation for nurturing talents to shape the FinTech industry across the region and strengthen Hong Kong’s position as a leading financial centre.” Professor Xiang Zhang, President and Vice-Chancellor, The University of Hong Kong.
“The Department of Computer Science at HKU Engineering has pioneered various research projects in FinTech related areas. The HKU-SCF FinTech Academy provides a platform for us to consolidate and develop new R&D projects, which has gained the support from the Research Matching Grant Scheme of the Government as well as from the industry and will create more opportunities, including scholarships and internships, for students. We look forward to working with SCF on this venture.” Professor Christopher Chao, Dean of HKU Engineering.
The HKU Faculty of Law - through its Asian Institute of International Financial Law (www.aiifl.com) - has played a leading role in HKU's development as a global leader in FinTech and RegTech in research and teaching. Key initiatives include what is now the world's leading Massive Open Online Course (MOOC) with edX, Introduction to FinTech (https://www.edx.org/course/introduction-to-fintech), now with over 65,000 spread across every country in the world, partnership with SuperCharger FinTech Accelerator (https://www.fintechsupercharger.com/) founded by a Faculty PhD student, and LITE (Law Innovation Technology Entrepreneurship) Lab (https://lite.law.hku.hk/). The HKU-SCF FinTech Academy builds on earlier support from Standard Chartered for the Introduction to FinTech MOOC and for SuperCharger, in among many other longstanding ties between HKU and Standard Chartered.
Looking forward, AIIFL and the Faculty of Law look forward to continuing to support world-leading research and talent development in FinTech and RegTech with the HKU-SCF FinTech Academy.