Media

A positive year for Fintech development in Hong Kong is anticipated in 2020, according to two new Fintech indices launched by the University of Hong Kong (HKU).

The HKU FinTech Index Project introduced the Hong Kong FinTech Growth Index (FGI) and the Hong Kong FinTech Buzz Index (FBI) to gauge local FinTech companies’ outlook on the industry and the general sentiment on the sector as reported by local press.

Hong Kong is a global financial centre, the HKU FinTech Index Series is the first in the region to provide index indicators on the development of the sector, with an aim to provide information in a timely manner to track the growth and development of the financial technology industry in Hong Kong.

The project was initiated by the technology transfer company of HKU – Versitech Ltd, and is led by Dr Philip Yu, Associate Professor of the Department of Statistics and Actuarial Science of the Faculty of Science.

FGI is a yearly index with four sub-indices on Business Environment, Business Performance, Investment on R&D and Demand on Talent. It represents responses to an annual survey by 38 companies, including start-ups, Unicorns and traditional bank/insurance companies, selected by an Advisory Board comprising professionals from the local FinTech industry.

FBI is a quarterly index representing a quantified sentiment of the local FinTech-related news articles in local news media outlets in the past three months. It reflects a general perception of the FinTech sector’s performance in the community for reference by policy makers and investors.

A media briefing to release the latest findings of the two indices will be held tomorrow (November 8, Friday). Details are as follows:

Time: 12:45pm
Venue: Room 723, 7/F Cheng Yu Tung Tower, Centennial Campus, HKU
Speakers:
Dr Philip Yu, Associate Professor of the Department of Statistics and Actuarial Science of the Faculty of Science, HKU
Mr. Steve Wong, Senior Manager, ICT Cluster, Hong Kong Science and Technology Parks Corporation
Mr. Brian Tang, Co-chair of RegTech Committee, FinTech Association of Hong Kong. Managing Director, Asia Capital Markets Institute.

After the media briefing, the HKU FinTech Index Series will be officially launched at a conference to mark the HKU Fintech Day.

Time: 3:30 to 4:00pm
Venue: Large Moot Court, 2/F Cheng Yu Tung Tower
HKU FinTech Day: www.hkufintech.com

About HKU FinTech Index Advisory Board
The Advisory Board comprises professionals from the local FinTech industry, including representatives from FinTech Association of Hong Kong, InvestHK, Cyberport, Hong Kong Science Park, and The Bank of East Asia, Limited. The members provide expert advice on the FinTech companies to be included in the master list for the annual survey to return the FinTech Growth Index. They also advise the Project on index methodology.

About project sponsor: Suoxinda Data Technology Co. Ltd
Suoxinda is a reputable market player in the big data and AI industry in the PRC providing data solutions, sales of hardware and software and related services as an integrated service, as well as IT maintenance and support services, to corporate customers. It is the sole sponsor for this HKU FinTech Index Series research project for a period of 5 years commencing this year. Based in Shenzhen, Suoxinda develops and delivers sophisticated data solutions with a strategic focus on leading banks and financial institutions in the PRC. Since FinTech is believed to be the next big wave for the financial market, the company supports the HKU R&D team to develop the subject Index Series to better understand the FinTech trend in the Hong Kong market so as to provide guidance for policy makers as well as market players. For more information about on project sponsor, please visit: datamargin.com.

Media enquiry:
Communications and Public Affairs Office, HKU
Ms Melanie Wan (Tel: 2859 2600 / Email: melwkwan@hku.hk)