CEFAR Academy and Hang Seng extend collaboration to nurture financial technologists
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.”