Hong Kong Monetary Authority Unveils Fintech Promotion Blueprint

The Hong Kong Monetary Authority has announced the release of a fintech promotion blueprint, which includes four flagship projects. According to Odaily, the initiatives aim to enhance the banking sector's capabilities in various technological areas. The first project, the Quantum Readiness Index, will assess the banking industry's preparedness in the field of post-quantum cryptography (PQC). The second initiative involves a new risk data strategy designed to leverage the potential of AI and distributed ledger technology (DLT) for advanced applications, thereby strengthening data management capabilities in the banking sector. The third project focuses on establishing a fintech cybersecurity benchmark, concentrating on the application of emerging technologies like AI and DLT. This aims to provide clear security guidelines for collaborations between fintech companies and banks. Lastly, the blueprint includes a qualification development support initiative, which will help professionals better understand the skills required to integrate AI and DLT into the next generation of financial products and services.