The University of Hong Kong has created a fintech academy with the help of HK$60m from Standard Chartered Bank.
The full title of the new initiative is The University of Hong Kong – Standard Chartered Hong Kong 150th Anniversary Community Foundation FinTech Academy.
Thankfully, it can be shortened to HKU-SCF FinTech Academy.
The idea is to leverage the combined strength of academics and industry to enhance and expand the way fintech is taught, researched and innovated.
The Academy is hosted by the Department of Computer Science of the Faculty of Engineering and supported by the Faculty of Law and the Faculty of Business and Economics.
The aim is 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 Academy plans to 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.
The pair said in a statement that in the next five years, the 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.
It’s hoped that the partnership and funding provided through the Academy will strongly facilitate HKU’s research in fintech.
Mary Huen, CEO, Hong Kong, Standard Chartered and Trustee, Standard Chartered Hong Kong 150th Anniversary Community Foundation, said: “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.”
Professor Xiang Zhang, President and Vice-Chancellor, The University of Hong Kong, added:
“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.”
The Academy intends to adopt a multi-faceted approach including Massive Open Online Courses (MOOC), encompassing talent development and research through a wide range of academic, industry and community engagement activities, and targeting to benefit hundreds of thousands of people, local or worldwide, interested in fintech.