NEWS

The Chinese University of Hong Kong (CUHK) Engineering FinTech Applied Research Academy (CEFAR) partnered with the “10x1000” Tech for Inclusion Programme to launch the world’s first joint course this year, allowing more than 100 foremost students who are enrolled in the Master of Science in Financial Technology programme (MSCFT) to fulfil part of the course requirement after completing certain modules of the “10x1000” online courses. Some students commented that the “10x1000” course is simple and easy to understand. Even if you are not a “Tech Person”, you can be one in the pool after completing it. One of the students had been inspired by the course, adding unique elements to her own NFT products which had achieved an initial success. There were also students who plan to stay in Hong Kong or further develop their career in the Greater Bay Area after graduation.

After completing a Bachelor’s degree in Mathematics at a university in Canada, Pan Zhihang (Chris), a student of this course, returned to Hong Kong for development. Chris said “I think the 10x1000 course is not too difficult, as long as you learn more about it. Compared to some online financial technology courses which usually take two to three hours, the 10x1000 videos are relatively short, and you can watch them even during travel. There are some areas in financial technology which our Master programme does not cover, and the 10x1000 course is a very good complement for the programme.”

Another student, Mok Wai Fan (Fanny), who is an entrepreneur, expressed that even if she is not a "Tech Person", she could become a "Tech Person" after completing this course, and the 10x1000 course has helped her a lot. Fanny has been inspired by this course that she had improved her innovative "product" to make it more unique.

“The biggest insight that 10x1000 gave me is the quiz after watching the videos in each module, which allows students to have unlimited attempts, apart from explaining the profound theories in simple ways. People will make mistakes. As for learning process, if we cannot do it once, then try it twice or even three times. As long as one is willing to try, she will definitely achieve 100%,” said Fanny.

Fanny added, “This will give students a sense of satisfaction. I applied this in the promotion of my original NFT products to attract more children or adults with less artistic talent, stimulating their interest in integrating art with technology.” Although the related product is still in the preliminary stage, Fanny revealed “It can be said to be an initial success. At least for the time being, there are already customers who are willing to buy our NFT with $200,000.”

Chris, who is only 27 years old, predicted that he will not start a business within ten years, and emphasized that accumulating working experience is more important. He said “I plan to stay in Hong Kong after graduation and choose to work in finance or financial technology field, such as data analysis. I think Hong Kong, as the window of Mainland China to the outside world, will develop very well in the future. I may also work in the Greater Bay Area, since my family lives in Guangzhou, and it is convenient to travel between these two cities. Those big cities like Shenzhen, Hong Kong and Guangzhou have synergy effects, and thus the prospects of working in Greater Bay Area are good.”

This course is the world's first joint course with a university since the International Finance Corporation (IFC), a member of the World Bank Group, and Alipay jointly announced the "10x1000 Tech for Inclusion" charity initiative and the launch of the financial technology talent cultivation platform in 2018. This joint course is also an achievement of the Memorandum of Understanding (MOU) signed between CEFAR and Ant Group in the middle of last year, which aims to cultivate young Fintech talents in Hong Kong and the Greater Bay Area, and promote the establishment and development of Hong Kong as an international innovation and technology center through cross-field collaboration amongst government, industry, academia and research.

Professor Chun Kwong Chan, CEFAR, Faculty of Engineering, CUHK remarked, “Since the signing of MOU in June last year to launch the ‘10×1000’ campus version, after in-depth discussions, the two parties decided to integrate three topics closely related to financial technology, namely the background of financial technology, blockchain applications and artificial intelligence applications as the content of the co-branded course and incorporated the relevant training modules into a core course – ‘Advanced Financial Infrastructure’ of the MSCFT programme taught by me, through which the students can understand how technology supports and changes the development of financial infrastructure.”

Ms. Jennifer Tan, the person in charge of the 10x1000 project, added, "As of the end of last year, the total number of 10x1000 graduates, coming from 92 different countries or regions around the world, has reached 2,808. More than 40 experts and scholars from about 20 countries or regions contributed to the course design and development. Their expertise and experience have enhanced the thinking, knowledge and skills of the learners, thereby equipping them to become a new generation of leaders in the digital economy. I would like to express my sincere gratitude to CUHK for its efforts and cooperation to offer the world's first co-branded course jointly developed by 10x1000 and a higher education institution. Without the support of partners and academic staff from all over the world like CUHK, 10x1000 would not be able to achieve its goal of cultivating hundreds of scientific and technological talents in various places every year.”

There was a total of 1,741 learners completing the Fintech Foundation Programme or the Fintech Expert Programme under 10x1000 last year, and the number of graduates has increased by more than 63% as compared with 2021. Among them, 115 graduates are Hong Kong locals from various organizations. After completing the Foundation Programme and passing the tests, learners can join the 10x1000 Alumni Association for network building and knowledge exchange with industry mentors and learners worldwide, laying a solid foundation for future career development in related fields.

10x1000 Programme Lead Jennifer Tan, Fanny Mok, Chris Pan and Professor Chun Kwong Chan (From L to R)

The Chinese University of Hong Kong’s (CUHK) Engineering FinTech Applied Research Academy (CEFAR) and Manulife (International) Limited (Manulife) signed a Memorandum of Understanding (MOU) to step up efforts to cultivate financial technology (fintech) talent and strengthen the University’s links with corporations.

The MOU marks a collaboration between the academic and business sectors to foster thought leadership and nurture future generations of business and finance leaders. Under the MOU, Manulife will offer scholarships to outstanding fintech students nominated by CEFAR annually. As part of this strengthened cooperation between academia and industry, CUHK fintech students will be able to strengthen their knowledge about the latest market trends through different speaking opportunities and events. In addition, Manulife is sponsoring industrial projects for CUHK fintech students in 2022-23 that enable students to gain first-hand business experience.

The MOU was signed by Professor Martin D F Wong, Dean of CUHK’s Faculty of Engineering, and Mr Anthony Buchanan, Chief Information Officer of Manulife Hong Kong and Macau.

Professor Martin Wong remarked, “We are delighted and honoured to have the support of Manulife to cultivate future fintech leaders for the insurance sector. CEFAR has successfully undertaken many applied research projects and provided internship opportunities for our students, enabling them to solve real-life problems by applying the knowledge and skills they have learnt in class. The collaboration with Manulife marks another milestone for CEFAR as we further expand our network and welcome Manulife, a leader in its industry, as our strategic partner. This elevates our efforts to develop a larger pool of fintech talents to meet the needs of Hong Kong and the broader Greater Bay Area.”

Mr Anthony Buchanan added, “Investing in talent is the first step towards making an organisation future-ready. We are honoured to have this opportunity to uplift high-calibre fintech talent within Hong Kong and the broader Greater Bay Area. As the first insurance company in Hong Kong to take part in this meaningful collaboration with CUHK, it also signifies our commitment to innovation in fintech as a means to deliver the most suitable solutions for our customers. We are excited about the progress we can make to continue our best to make people’s life every day better.”

Professor Martin D. F. Wong, Dean of CUHK’s Faculty of Engineering (left) and Mr Anthony Buchanan, Chief Information Officer of Manulife Hong Kong and Macau, sign a MOU.

Group photo of the representatives of CUHK’s Faculty of Engineering and Manulife. (From left) CUHK Faculty of Engineering’s Associate Dean (Education) Professor Lee Tan; CUHK’s CEFAR Academy Professor Chan Chun-kwong; Dean of CUHK’s Faculty of Engineering Professor Martin D F Wong; Manulife Hong Kong and Macau’s Chief Information Officer Mr Anthony Buchanan; and Manulife Hong Kong’s Head of IT Innovation, Research & Development Mr William Hui.

After three years of successful collaboration to accelerate the development of financial technology (fintech) talents in Hong Kong, The Chinese University of Hong Kong (CUHK)’s Engineering FinTech Applied Research Academy (CEFAR Academy) and Hang Seng Bank (Hang Seng) signed a renewed Memorandum of Understanding (“MOU”), under which they will continue to offer training opportunities to fintech students and practitioners. 

The renewal of the MOU marks a strengthening of the relationship between CEFAR Academy and Hang Seng. The Bank will continue to offer internships, industry project supervision and scholarships, providing CUHK fintech students with the chance to gain first-hand business experience and industry knowledge. CEFAR Academy will also provide Hang Seng professionals with tailor-made fintech training in areas ranging from strategy to implementation, and covering various aspects of both business and technology.

The two parties signed their first fintech development MOU in September 2019, with the aim of driving thought leadership and nurturing future generations of skilled financial professionals. Since then, CUHK fintech students have successfully undertaken 12 industry projects, and four more are underway. The projects covered diverse technologies including digital wallets, non-fungible tokens (NFTs), artificial intelligence (AI) and wealth management products. Hang Seng has given 13 CUHK interns the opportunity to put the theories and skills learned in the classroom into practical use in real-life industry situations, and to learn from experienced Hang Seng practitioners who served as their mentors. The Bank awarded three HK$50,000 scholarships to CUHK fintech students who demonstrated outstanding performance and great potential. In addition, CUHK supported Hang Seng by providing its staff with training courses to enhance their fintech skills and knowledge, including data analysis training under the Bank’s Data Literacy Empowerment Programme, fintech courses for executives and internal start-up training.

The renewed MOU was signed by Professor Martin D F Wong, Dean of Engineering at CUHK, and Ms Vivien Chiu, Chief Operating Officer at Hang Seng. The deepened collaboration includes exploring more ways to cultivate fintech practitioners with the knowledge and skills to drive future banking and financial services in Hong Kong and the Greater Bay Area.

At the MOU signing ceremony, Professor Wong said, “Talent is one of Hong Kong’s most important assets in strengthening our competitiveness in financial services, both regionally and internationally. We are happy to further strengthen our collaboration with Hang Seng. Our partnership demonstrates our deep commitment to nurturing Hong Kong’s fintech talents.”

Ms Chiu said, “Nurturing and supporting young people is an important part of our broad-based initiatives to drive technological innovation in our industry. Throughout our strategic partnership with CUHK over the past three years, we have continuously increased the resources we have invested in the university. In 2022, Hang Seng’s commitment has already exceeded HK$3.5 million. Through our internships, projects and scholarships, we can help to expand the future talent pool of Hong Kong. At the same time, CUHK is facilitating us in fintech knowledge enrichment for our staff to ensure our workforce is future-proof.”

Appendix: About CUHK’s fintech programme and CEFAR Academy, and Hang Seng Bank

Appendix

About CUHK’s fintech programme and CEFAR Academy

A pioneer in financial technology education in Hong Kong, the Faculty launched the first undergraduate fintech programme in the 2017/18 academic year, and a Master of Science in FinTech programme in the 2019/20 academic year. The 2022/23 academic year marks another milestone, with the launch of the new Postgraduate Diploma (PgD) in FinTech. It will allow high-calibre candidates to learn core fintech skills and emerging developments, giving them the chance to explore potential careers in the fintech sector. These programmes aim to cultivate a new generation of financial technologists and equip them with essential industry experience and professional skills. The programmes receive full support and high commendation from the banking industry and financial regulatory bodies.

CEFAR Academy was established in 2020 by the Faculty with the aim of creating a new pipeline of talent for Hong Kong’s rapidly emerging fintech industry. It partners with government, industry, NGOs, professional bodies and other universities and research institutes to provide research experience and internship opportunities for students. It also serves as a platform for knowledge transfer and promotes technology development and application.

About Hang Seng Bank

Founded in 1933, Hang Seng Bank has continually innovated to provide best-in-class, customer-centric banking, investment and wealth management services for individuals and businesses. It is widely recognised as the leading domestic bank in Hong Kong, currently serving more than 3.5 million customers.

Combining its award-winning mobile app and strong digital capabilities with a vast network of around 270 service outlets in Hong Kong, Hang Seng offers a seamless omni-channel experience for customers to take care of their banking and financial needs anytime, anywhere.

Its wholly owned subsidiary, Hang Seng Bank (China) Limited, operates a strategic network of outlets in almost 20 major cities in Mainland China to serve a growing base of Mainland customers locally and those with cross-boundary banking needs. The Bank also operates branches in Macau and Singapore, and a representative office in Taipei.

As a homegrown financial institution, Hang Seng is closely tied to the Hong Kong community. It supports the community with a dedicated programme of social and environmental initiatives focused on future skills for the younger generation, sustainable finance and financial literacy, addressing climate change and caring for the community.

Hang Seng is a principal member of the HSBC Group, one of the world’s largest banking and financial services organisations. More information on Hang Seng Bank is available at www.hangseng.com.

Ms Vivien Chiu, Chief Operating Officer at Hang Seng Bank and Professor Martin Wong, Dean of Engineering at CUHK (2nd right) sign a collaboration agreement, witnessed by Professor Lee Tan, Associate Dean (Education) of CUHK’s Faculty of Engineering (1st left); Professor Chan Chun-kwong, Secretary of CUHK’s CEFAR Academy (2nd left); and Mr Nike Kong, Chief Information Officer at Hang Seng Bank (1st right).

To step up efforts to cultivate financial technology (FinTech) talent and strengthen the University’s links with corporations, The Chinese University of Hong Kong’s (CUHK) Engineering FinTech Applied Research Academy (CEFAR) and Deloitte China (Deloitte) have signed a Memorandum of Understanding (MOU) today (4 August), offering training opportunities to skilled FinTech students.

The MOU marks a collaboration between the academic and business sectors to foster the development of thought leadership and nurture future generations of business people. Under the MOU, Deloitte offers internship and talent programmes that give CUHK FinTech students the chance to gain first-hand experience of business and industry knowledge. In addition, students will get to learn the latest industry trends from Deloitte mentors passing on their knowledge.

At the MOU signing ceremony, CUHK Faculty of Engineering’s Acting Dean Professor Tsang Hon-ki remarked, “It is our honour to work with Deloitte to cultivate future FinTech leaders in the financial sector. Since its inception in 2020, CEFAR has successfully undertaken many applied research projects and provided internship opportunities for our students. Through their participation in the projects and internships, students are able to solve real-life problems by applying the knowledge and skills they have learnt in class. CEFAR collaborates closely with the banking industry and financial regulatory bodies. The collaboration with Deloitte marks a further milestone for CEFAR, allowing us to strengthen another connection with an international conglomerate in our professional service network, and elevating our efforts to develop a larger pool of FinTech talents to meet the needs of Hong Kong and the Greater Bay Area.”

Deloitte China’s Southern Region Managing Partner Mr Edward Au commented, “Talent is one Hong Kong’s most important assets in securing and strengthening our lead in financial services in Asia and the world. We are delighted to step up our collaboration with CUHK. Its Faculty of Engineering launched the first FinTech undergraduate programme in Hong Kong and it is recognised as a leader in FinTech education and research. As part of Deloitte’s INspire HK strategy, this partnership demonstrates our deep commitment to cultivating Hong Kong’s future FinTech talents. We look forward to supporting more academic-business exchanges and collaborations.”

Deloitte China’s Government Affairs Southern Region Leader and Hong Kong Digital Assets Leader Mr Robert Lui added, “In view of the rising demand for FinTech professionals in our day-to-day business, it is necessary to equip our young talent with a wide range of skills and knowledge, from technology to business, and from strategy to regulations. Closer, cross-disciplinary collaborations within the FinTech ecosystem play a significant role in enhancing our talent pool to support the fast-growing industry.” 

Deloitte China’s Southern Region Managing Partner Mr Edward Au (left) and CUHK Faculty of Engineering’s Acting Dean Professor Tsang Hon-ki sign a collaboration agreement.

(From left) Deloitte China’s Government Affairs Southern Region Leader and Hong Kong Digital Assets Leader Mr Robert Lui; Deloitte China’s Southern Region Managing Partner Mr Edward Au; CUHK Faculty of Engineering’s Acting Dean Professor Tsang Hon-ki and CUHK’s CEFAR Academy Prof. Chan Chun-kwong.

The Chinese University of Hong Kong (CUHK) Engineering FinTech Applied Research Academy (CEFAR) and Ant Group (Ant) recently signed a Memorandum of Understanding (MOU), strengthening their strategic partnership by launching the 10×1000 Tech for Inclusion programme, to attract and develop students interested in financial technology careers.

Scheduled to launch in the second half of 2022, the collaboration aims to foster a strong and growing FinTech ecosystem by bringing together key stakeholders from government, industry, academia and research, to contribute to young talent development, and strengthen Hong Kong’s position as an international innovation hub and accelerate the development of the Greater Bay Area, which are among the key priorities of the Central and HKSAR governments.

As part of the MOU, selected CUHK students can join Ant’s global FinTech training programme 10×1000 Tech for Inclusion, including enrollment in its online FinTech courses and dialogue series. Students who aspire to pursue a career in FinTech can also join the 10×1000 community to interact with trainers, tutors and other members globally, and exchange ideas and knowledge.

This collaboration builds on CUHK and Ant’s relationship exploring more possibilities for the application of digital innovations, which have included Ant’s offer of more than 100 R&D vacancies for CUHK graduates last year. Ant will also provide speaking opportunities where industry practitioners can share knowledge, in addition to offering internship opportunities and recruitment support. Later this year, Ant will sponsor two Industrial Projects for CUHK Master of Science in Financial Technology students, who will take up the challenges of solving real-life problems by applying the knowledge and skills they have learnt in class, with guidance and supervision from Ant. Topics for the projects include how FinTech will drive the further development of Ant’s business.

The MOU was signed by Professor Martin D. F. Wong, Dean of CUHK’s Faculty of Engineering, and Ms. Jennifer Tan, Executive Vice-President of Strategy Development and Government Affairs of Ant Group overseeing the GBA region.

Professor Wong remarked, “Since its inception in 2020, CEFAR has successfully undertaken many applied research projects. The collaboration with Ant means we have strengthened another connection with the industry, elevating our efforts to develop a larger pool of FinTech talents to meet the needs of Hong Kong’s future.” 

Ms. Tan added, “CUHK is a world-renowned university and its Faculty of Engineering is widely recognised as a pioneer in developing our next generation of technology leaders. Ant Group is honoured to partner with CEFAR to expand the range of opportunities that we can offer to the students in Hong Kong and the Greater Bay Area who will be shaping the FinTech industry’s future. As we work towards our shared commitment to strengthening Hong Kong’s position as an international innovation centre, we are excited to support academic exchanges, sharing of thought leadership, student internships, recruitment efforts and career counselling.”

Professor Martin D. F. Wong, Dean of CUHK’s Faculty of Engineering (left) and Ms. Jennifer Tan, Executive Vice-President of Strategy Development and Government Affairs of Ant Group overseeing the GBA region, sign a collaboration agreement.

Group photo of the representatives of CUHK Faculty of Engineering and Ant Group.