Hong Kong Science & Technology Parks Corporation (‘HKSTP’) and a Hong Kong-based banking and financial services company are deepening their partnership to drive business innovation and digital development in Hong Kong through a series of new collaborative solutions in the coming three years, including the establishment of Hong Kong’s first ‘Living Lab for the Branch of the Future’, an initiative to support innovative companies to expand in the GBA, and various other investment and incubation activities.
Over the past three years, HKSTP and the company have developed a diverse range of innovative digital banking solutions that have enhanced service experiences and outcomes for customers. The partners are leveraging the success as a springboard to take customer-centric banking to the next level, with a particular focus on further simplifying and expediting banking journeys for customers, and enhancing incubation support for innovative companies.
One of the signature projects of the partnership to date is the large interactive digital wall at the financial services company’s MOSTown Branch in Ma On Shan which came into operation in 2020. The interactive digital wall was developed in collaboration with IOIO Creative, a start-up that is part of the HKSTP ecosystem.
The wall provides a wide range of real-time market and financial information. Customers can interact with the wall by using their mobile phones to scan any of the QR codes to immediately receive information on areas of interest via their mobile phones.
The CEO at HKSTP stated that the three-year alliance with the bank is entering a new level of collaboration to drive more innovation with even greater impact for customers, businesses and the banking sector as a whole. The latest series of innovation initiatives between the two will define the future of banking for Hong Kong and the wider GBA region as innovation enables startups and the banking industry to shape a new era of financial services.
Meanwhile, the Head of Strategy & Planning and Chief of Staff to CE at the banking firm stated that by combining the respective strengths of both parties, the partnership will not only help advance the company’s innovation strategy, but also benefit all stakeholders in Hong Kong and the Mainland, and thus reinforce the leadership position of Hong Kong as the international innovation hub.
The Head of Retail Distribution at the firm stated that the interactive digital wall at MOSTown Branch in Ma On Shan is a good demonstration of how our alliance with HKSTP is advancing this objective. The collaboration with HKSTP to develop and launch more innovative and smart solutions that further enhance online-to-offline banking services and branch efficiency in support of excellent service experiences for customers.
One of the new collaborative initiatives, the ‘Living Lab for the Branch of the Future’ will provide a real-life commercial testing ground for technology trials and branch services to help develop customer-centric digital innovations. The Lab will bring together technology and industry partners to co-create banking solutions that facilitate seamless online-to-offline service experiences for customers.
Other elements of the alliance include Hang Seng providing a range of targeted banking and finance support services to HKSTP companies that seek to expand their operations and coverage to the GBA.
The bank was also the first among a number of market-leading corporations and start-ups that are now leveraging the benefits offered by HKSTP’s FinTech Centre at the Kowloon Tong InnoCentre. The dedicated fintech hub enables efficient and direct engagement with the fintech and technology community, enabling banks and other financial organisations to explore potential cooperation opportunities to advance fintech innovation in Hong Kong.
