HKMA Launches Fintech Blueprint with AI, DLT, Quantum and Cybersecurity Focus

The Hong Kong Monetary Authority (HKMA) published a Fintech Promotion Blueprint to support responsible innovation and fintech development in the banking sector.

Under the “Fintech 2030” framework, the Blueprint focuses on advanced applications of AI and distributed ledger technologies (DLT). High-performance computing supports these developments.

The Blueprint positions data excellence and cyber resilience as core foundations. They aim to strengthen banks’ ability to manage risks associated with advanced technologies.

The Blueprint outlines initiatives across ecosystem collaboration, technological advancement, and talent and outreach.

In the coming months, the HKMA will roll out four flagship projects.

The first is a Quantum Preparedness Index to assess the banking sector’s readiness for post-quantum cryptography, reflecting the potential impact of quantum computing on encryption and financial security. The Index will provide a baseline assessment and guide future transition efforts.

The second initiative is a New Risk Data Strategy to enhance banks’ data management capabilities through stronger governance frameworks and more advanced data infrastructure.

The HKMA aims to use structured and unstructured data for advanced analytics and to expand its granular data reporting to strengthen risk management and supervisory responsiveness.

The HKMA will also develop a standardised, industry-led Fintech Cybersecurity Baseline, in collaboration with industry experts.

The framework will focus on fintech solutions using AI and DLT. It will provide clearer cybersecurity guidance for providers working with banks and support more efficient due diligence.

In addition, the HKMA will provide competency development support. This will offer practical guidance to strengthen skills related to human–machine interaction for future financial products and services.

Arthur Yuen, Deputy Chief Executive of the HKMA, said:

Featured image credit: HKMA

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