The CEFAR Annual Awards aim to honor students who have engaged in a FinTech industrial project as lined up by CEFAR Academy (i.e. CEFAR Project) for attainment of academic credits and delivered outstanding performance in the project by demonstrating their ability and skills in analysing a real-life business problem and applying extensive knowledge and concepts to derive proper solutions and deliverables for the project.

Awardee: LIAO Zhongmin
Project Title: Digital Wallet – Business Opportunity for Commercial Banking & Use Cases


Project Abstract:
Digital wallets have reshaped how consumers manage transactions, offering commercial banks a chance to tap into this trend. This study will assess the market for digital wallets in commercial banking, identifying key applications and trends. It aims to position commercial banks strategically within the digital wallet sector by examining integration with existing services and the impact on banking operations.

Awardee: LI Tingxuan
Project Title: Financial Fraud Prevention

Project Abstract:
The incidence of financial fraud is increasing, with complex methods such as impersonation and deceptive banking messages leading to significant financial loss and undermining confidence in the banking system. Banks are countering this with more sophisticated fraud detection systems across their operations. This project aims to investigate the most widespread forms of financial fraud and identify the banking channels they commonly exploit. Students will explore the ways in which banks can apply technological advances and strategic approaches to effectively combat these threats. Students will engage in developing protective measures that ensure customer security and uphold the banking infrastructure's integrity.

Awardee:  ZHANG Jiahao
Project Title: Green Loans Based on ESG

Project Abstract:
With increasing ecological concerns, the finance sector is shifting towards sustainable lending. This project introduces a green financing system that offers lower loan rates to businesses meeting ESG (Environmental, Social, and Governance) benchmarks. Utilizing real-time environmental performance data from APIs like those from HK Electric, the system aims to financially motivate companies to pursue greener practices.

Awardee:  JIANG Xueting
Project Title: The Application of AI & Big Data in Foreign Exchange Business 

Project Abstract:
Banks are poised to embrace a transformative shift by embedding artificial intelligence (AI) and machine learning (ML) into their foreign exchange (FX) trading functions. This shift aims to minimize the current dependency on manual labor by introducing automated systems for tasks like algorithmic trading, enhancing risk management, and efficiently managing numerous small-scale FX trades. The integration of AI and ML technologies is expected to streamline banking workflows, elevate operational efficiency, and modernize the conventional approach to FX trading.

Awardee: HAN Tianyang
Project Title: Evolution of Alpha Hotpot

Awardee: ZHANG Jiawei, Jenny
Project Title:
Visionary Risk Analytics Engine

Project Abstract:
The project envisions the creation of a sophisticated risk analytics platform that explores non-financial unstructured data, such as internet behavior and social media movements, to boost the bank's forecast accuracy in risk management. This initiative aims to break away from the traditional reliance on banking data alone for risk evaluations by integrating a broad spectrum of data types to construct a thorough risk assessment tool. The projected deliverable is a working framework that identifies significant unstructured data sources and an elementary tool for risk forecasting, offering valuable insights to refine the bank's strategies for mitigating risks and maintaining operational continuity.

Awardee:  CHEN Ming
Project Title: Build a Portfolio of Automated Process

Project Abstract:
This initiative aims to arm students with expertise in intelligent automation through the combination of RPA with AI, reflecting the skillset's increasing value in today's job market. Students will develop a set of proofs of concept and demonstrations relevant to the industry to display their technical acumen. The portfolio will consist of operational automation bots that serve as verifiable demonstrations of the students' skills for potential career paths.

Awardee: LAM Ka Kit
Project Title: Comparative Study of Digital Identity and Opportunities in  Hong Kong using iAM Smart in Banking Application as an  Example


Project Abstract:
A secure digital identity system is needed as the foundation of digital transactions. This project adopts iAM Smart function and develops a website. iAM Smart log-in integration is completed. Next stage can perform an online application form submission. This project helps develop iAM Smart system into a globally recognized identity certification system for individuals and organizations, and promote securely digital transactions and contracts.

Awardee: LOUIE Wai Tak Frank
Project Title:
VIRTUAL BANKING: VISIBLE OR INVISIBLE? Embedded banking services unintentionally in our daily  life

Project Abstract:
The HKMA issued 8 licenses of virtual bank in 2018. The virtual banks will grow up in tough soil and hard to survive due to the competitions from the existing strong incumbents in Hong Kong and strong regulatory. This project is to suggest virtual bank a way to success in Kong Hong and expand it to the oversea markets.
 

Awardee:  MA Chin Fung Victor
Project Title: P2M Collection Model

Project Abstract:
Traditional retail stores are also expanding their business by O2O. This project researches and analyzes the consumer and merchant behavior on mobile POS collection and create a user friendly journey, designs and customer/merchant adoption strategy of the new POS solution. This will enhance the current POS solutions for online merchants to receive payments from consumers / personal customers.