Fintech Association of Hong Kong

The FinTech Association of Hong Kong (FTAHK) is a not-for-profit, independent membership organisation dedicated to supporting and advancing the FinTech industry in Hong Kong, Greater China, and Asia. The Association is led by a volunteer group of board members and committee co-chairs, who are deeply invested in the future of FinTech in the region. FTAHK’s structure is built on the principles of transparency, accountability, and governance, ensuring an unbiased approach to all its activities.

FTAHK's membership is diverse, ranging from innovative startups and passionate individuals to global financial institutions and service providers. The Association also collaborates closely with the government and regulatory bodies to advocate for global standards within the FinTech ecosystem, aiming to reinforce Hong Kong’s position as a key player in the global FinTech landscape.

The Association operates under three main pillars: Advocate, Collaborate, and Educate. Through advocacy, FTAHK creates a unified voice for the Hong Kong FinTech ecosystem, encourages the development of effective regulations, and works to attract investment and talent into the city’s FinTech sector. Collaboration efforts focus on bringing together the various parts of the community to promote innovation and support the development of robust, reliable technology in financial services. The education pillar is dedicated to learning from existing leaders, nurturing the next generation of talent, and fostering an open, inclusive, and diverse FinTech community.

FTAHK is organised into various committees, each focusing on specific areas of the FinTech industry. These include AI & Big Data, Cloud & Cybersecurity, Digital Banking & Payments, GreenTech & ESG, InsurTech, RegTech, Wealth & InvestTech, and Web3 & Blockchain. Each committee aims to drive innovation, collaboration, and knowledge-sharing within its area of focus, contributing to the overall growth and development of the FinTech sector in Hong Kong.

FTAHK also engages with the broader international FinTech community, promoting Hong Kong as a global FinTech hub. The Association’s independence and not-for-profit status allow it to maintain a clear focus on the needs and interests of its members and the broader community, making it a pivotal organisation in the ongoing development of FinTech in Hong Kong and beyond.

The FinTech Association of Hong Kong (FTAHK) was founded in 2017 by a group of professionals who recognised the growing importance of financial technology and its potential to reshape the financial landscape in Hong Kong, Greater China, and Asia. These founders were driven by a collective vision to create a unified voice for the FinTech community in the region, operating under the guiding principle of “by the community for the community.” This vision became the cornerstone of the Association’s mission and operations.

FTAHK was established as an independent, not-for-profit organisation with a strong emphasis on transparency, accountability, and governance. The founders believed that the only way to truly represent the diverse interests of the FinTech community was to maintain independence from commercial and political influences. The Association’s structure was designed to be transparent, with decision-making processes that are inclusive and reflective of the community’s needs. This independence also ensured that FTAHK could focus solely on advocating for and supporting the FinTech ecosystem in Hong Kong and beyond.

From its inception, FTAHK has been led by a volunteer group of board members and committee co-chairs. These individuals are drawn from various sectors within the FinTech industry, including startups, global financial institutions, and technology providers. This diverse leadership ensures that FTAHK’s activities are representative of the broader FinTech community and that the Association remains responsive to the evolving needs of the industry.

In its early years, FTAHK focused on establishing itself as a credible and influential voice within the FinTech sector. The Association quickly gained recognition for its role in advocating for proportionate and effective regulation, attracting investment, and promoting innovation within the FinTech community. FTAHK’s membership grew rapidly, encompassing a wide range of participants from promising startups and passionate individuals to established global financial institutions.

A key aspect of FTAHK’s growth was the formation of various committees, each dedicated to a specific area within FinTech. These committees, which include AI & Big Data, Cloud & Cybersecurity, Digital Banking & Payments, GreenTech & ESG, InsurTech, RegTech, Wealth & InvestTech, and Web3 & Blockchain, became vital platforms for collaboration, knowledge-sharing, and advocacy. Each committee was tasked with addressing the unique challenges and opportunities within its respective domain, contributing to the overall development of Hong Kong’s FinTech ecosystem.

Today, FTAHK is widely regarded as Asia’s leading independent FinTech association. Its influence extends beyond Hong Kong, with the Association playing a key role in shaping the global FinTech landscape. FTAHK continues to advocate for the FinTech community, promote collaboration, and support the development of innovative technologies that drive the industry forward.

The FinTech Association of Hong Kong (FTAHK) aims to unite the diverse FinTech community in Hong Kong, Greater China, and Asia. Its primary goals are to advocate for a supportive regulatory environment, foster collaboration among stakeholders, and promote education within the industry. FTAHK seeks to reinforce Hong Kong’s position as a leading global FinTech hub by driving innovation, attracting investment, and nurturing the next generation of FinTech talent, all while operating on principles of transparency, accountability, and community-driven governance.

Association’s Three Pillars

The Association’s structure is built on three fundamental pillars: Advocate, Collaborate, and Educate. These pillars guide FTAHK’s activities and underscore its commitment to the FinTech community.

Advocate: FTAHK works tirelessly to create a unified voice for the FinTech ecosystem in Hong Kong. It engages with government bodies and regulators to advocate for proportionate and effective regulation that supports innovation while ensuring financial stability and consumer protection. The Association also seeks to attract greater investment and talent into Hong Kong’s FinTech sector, recognising that a thriving FinTech industry requires a supportive environment where businesses can flourish.

Collaborate: Collaboration is at the heart of FTAHK’s mission. The Association brings together a wide range of stakeholders, from promising startups and passionate individuals to global financial institutions. By fostering collaboration, FTAHK helps to drive innovation in financial services, supporting the development of better financial experiences through the creation of robust, reliable technology. The Association also serves as a platform for community engagement and co-creation, promoting the sharing of ideas and best practices across the FinTech ecosystem.

Educate: FTAHK is deeply committed to nurturing the next generation of FinTech talent in Hong Kong. The Association champions an open, inclusive, and diverse FinTech community, providing opportunities for learning from existing leaders and experts in the field. Through its educational initiatives, FTAHK aims to build a strong talent pipeline that can sustain the industry’s growth and ensure that Hong Kong remains at the forefront of FinTech innovation.

Since its inception, the FinTech Association of Hong Kong (FTAHK) has played a crucial role in advancing the FinTech ecosystem in Hong Kong and the broader region. 

One of the notable events organised by FTAHK is the seminar on "DeFi, Metaverse, Digital Assets, and Web3: Opportunities and Challenges for the Financial Services Industry." This event focuses on emerging technologies and their impact on the financial sector, offering insights into the development of digital assets and the Web3 ecosystem. Additional key events include "ReThink HK 2024," designed for business leaders and sustainability practitioners. It provides a platform for building relationships, sourcing sustainable products, and researching new service providers. Another important event is the "HKIB Annual Banking Conference 2024," which focuses on the future of banking in a rapidly changing environment.

Another significant event is the "Mission Trip to Huawei's Songshan Lake Campus," which gives participants an exclusive opportunity to explore Huawei's research and development facilities. FTAHK also partners with organisations to host events like the "Stephenson Harwood x FTAHK: AI and the Law – A Multi-Jurisdictional Dialogue." This seminar provides a comprehensive overview of the global AI regulatory landscape, offering practical insights for professionals involved in implementing AI technologies.

The "Hong Kong FinTech Report 2023," published in collaboration with FinTech Consult, is a prime example. This report highlights the continuous growth of Hong Kong’s FinTech ecosystem, now encompassing around 500 companies. It underscores the dominance of the ‘Blockchain & Digital Assets’ and ‘Payment & Remittance’ verticals, driven by the increasing adoption of virtual assets and a strong industry interest in tokenization and decentralised finance (DeFi) applications.

The report mentions that while funding has dropped from the peak in 2021, current investment levels are still higher than in most past years. This shows the strength of Hong Kong’s FinTech sector. It also points out that over 25,000 people work in FinTech companies in Hong Kong, making up 0.66% of the city’s total workforce—the highest in Asia. The report also recognises government support for areas like Web3, digital assets, and crypto as important for the sector’s growth.