Welcome, everyone, to another episode of “Continuous Improvement.” I’m your host, Victor. Today, we’re diving into a topic that hits close to home for us here in Hong Kong - the FinTech revolution. Now, it’s no secret that Hong Kong is an international financial center, but it’s time to take a hard look at where we stand in the world of FinTech.

You see, while we enjoy economic success in our highly competitive corporate environment, our neighbors in Singapore have seized the opportunity and aggressively moved ahead in the FinTech race. The Singaporean government has played a crucial role in attracting FinTech companies by providing incentives and clear regulations. Furthermore, mainland China’s FinTech firms have thrived on the extensive client base available to them.

The challenge is clear - Hong Kong’s risk-averse mentality is slowing the progress of our own FinTech industry. Many individuals in the banking sector express concerns about disruptive technologies like blockchain, Bitcoin, and mobile payments. They fear that these innovations could jeopardize their businesses and result in failure to adapt.

But here’s where the silver lining comes in. Hong Kong is home to a diverse group of innovative and creative individuals. We have the potential to assemble outstanding teams that can inspire and contribute to the creation of the world’s best FinTech ecosystem. It’s time to elevate our awareness and reimagine what is possible for our city when financial technology serves as a catalyst for positive industry transformation.

In my opinion, this is the desired outcome - guiding global financial technology to become more human-centered. We’re fortunate to have a legal sandbox policy that allows companies to test their innovative ideas in the marketplace. These financial technologies have the potential to positively impact lives around the globe. Together, let’s utilize the language and tools of FinTech to reestablish Hong Kong as the regional hub for FinTech commerce.

Before we wrap up for today, I encourage you all to join the conversation. What steps do you think Hong Kong needs to take to catch up in the FinTech revolution? Share your thoughts and ideas with us via our website or social media channels.

That’s all for today’s episode of “Continuous Improvement.” Thank you for tuning in, and remember, growth comes through continuous improvement. Until next time!