The Fintech Talent Development,Competency, and Manpower Study

The Fintech Talent Development, Competency, and Manpower Study 7 Preface The Fintech Talent Development, Competency and Manpower Study (the “Study”) is an academic study conducted by the Business School of the Hong Kong University of Science and Technology (“HKUST Business School”). It is one of eight research tasks under the Fintech Theme-based Research Project * (the “Project”), “Contributing to the Development of Hong Kong into a Global Fintech Hub” , funded by the Research Grants Council. The Project investigates a broad spectrum of fintech services and issues, and is based on consultations with those in the industry including regulators, financial institutions, technology companies, and startups. The project team consists of over 20 researchers from HKUST and local and overseas universities. The expertise of the researchers spans across disciplines including finance, information systems, statistics, computer science, accounting, economics and policy research. This Study aims to support Hong Kong’s development into a world-class fintech hub. From a policy perspective, by understanding the current manpower situation, and the skills and competencies required by the fintech industry, we can better implement the industry and educational directives that will build a strong foundation for fintech talent development in Hong Kong. In the 2017 Policy Address, the Government pledged to establish Hong Kong as a hub for applying and setting standards for cutting-edge fintech. People with a high level of technology, collaboration-building and communication skills are undeniably a core asset in this development. While the global fintech industry has been experiencing an acute shortage of talent, there has not yet been a systematic study of the fintech manpower situation in Hong Kong from a policy perspective. This Study intends to help answer the following questions: • What is the current manpower situation? • What specific technology skills and behavioral competencies are most required in the fintech industry? • What are the possible solutions for Hong Kong to develop and recruit the talent it will need to sustain long-term leadership in fintech? We hope the findings of this Study offer useful insights and perspectives to practitioners, regulators, government and education institutions on the fintech manpower development in Hong Kong. * The Project is funded under the RGC Theme-based Research Project Grant, Project No. T31-604/18-N Kar Yan Tam School of Business and Management, The Hong Kong University of Science and Technology