ICBC (Asia) and HKIIT Sign MoU to Jointly Nurture Versatile Fintech Talents

Hong Kong – Industrial and Commercial Bank of China (Asia) Limited (“ICBC (Asia)”) and the Hong Kong Institute of Information Technology (“HKIIT”), a member institution of the Vocational Training Council (VTC), signed a Memorandum of Understanding (MoU) today, with an aim of nurturing more versatile fintech talents for Hong Kong society. ICBC (Asia) and HKIIT are committed to promoting technology and digital transformation and making contributions to Hong Kong's development into an international innovation and technology (I&T) hub.

As the National “14th Five-Year Plan” has set out the development of Hong Kong in eight key areas including the international financial centre and international I&T centre, the Hong Kong Monetary Authority (HKMA) also unveiled the “Fintech 2025” strategy to drive fintech development in Hong Kong. The city requires numerous professionals who possess extensive knowledge in finance and deep understanding of technology to meet the needs of fintech development. Hence ICBC (Asia) and HKIIT signed the MoU to leverage their respective strengths and resources to nurture more multifaceted local talents in the field of fintech, thereby facilitating the development of I&T in Hong Kong. Witnessed by Mr. Wu Long, Vice Chairman, Executive Director and Chief Executive Officer of ICBC (Asia) and Mr. Tony Tai, Chairman of VTC, the MoU was signed by Mr. Tang Bin, General Manager of Financial Technology Department of ICBC (Asia) and Dr. John Hui, Principal of HKIIT.

Mr. Wu Long said, “We are pleased to promote fintech development in Hong Kong with HKIIT by signing this MoU. As a local bank rooted in Hong Kong, ICBC (Asia) recognises that versatile fintech talents have become a vital engine for promoting Hong Kong’s I&T development and digital transformation in the banking industry. We have been dedicated to seizing the opportunities arising from digital transformation with our comprehensive financial services and technology, and adopting creative thinking to further upskill our technological and service personnel in the workplace, so as to fully support the high-quality development of financial services in Hong Kong.”

Mr. Tony Tai said that with the support of the HKSAR Government, VTC established the HKIIT in November last year to offer IT and relevant technology programmes for students, working adults and industry practitioners, and equip them to embrace the opportunities and challenges arising from the emerging technology and digital transformation. He added that by effectively utilising technologies such as Artificial Intelligence (AI), cybersecurity, blockchain, cloud computing, big data analytics, and more, it not only would enhance the reliability and security of financial services but also provide efficient and convenient financial services for the public. Mr. Tai hoped that the collaboration with ICBC (Asia) would nurture a growing pool of talent for financial and banking technology development of Hong Kong, the Greater Bay Area, and mainland China, thereby further establishing Hong Kong's status as an international financial centre. 

According to the MoU, ICBC (Asia) will provide HKIIT students with opportunities for internships and participation in business case projects to obtain practical workplace skills. It will also provide employment support to HKIIT students through job matching and referrals, attracting young people to work in the financial industry and contributing to the expansion of fintech talent pool in Hong Kong. Meanwhile, HKIIT will arrange I&T and fintech related in-service training such as upskilling and continuing education programmes, seminars and relevant information to enhance the professional information technology skills and knowledge of ICBC (Asia) employees, in order to provide better financial services to Hong Kong society.

About Industrial and Commercial Bank of China (Asia) Limited 
Industrial and Commercial Bank of China (Asia) Limited (“ICBC (Asia)”) is a licensed bank incorporated in Hong Kong. It is the flagship of overseas business of Industrial and Commercial Bank of China Limited (“ICBC”) - currently the largest commercial bank in China, and it is one of the domestic systemically important banks (D-SIBs) in Hong Kong. Currently, ICBC (Asia) has 47 branches (including 25 branches equipped with “Elite Club” Wealth Management Centres) in Hong Kong. It is engaged in personal banking, commercial banking, cross-border banking, private banking, investment banking and other financial services, including those of securities, insurance and funds, with a focus on retail and commercial banking as well as global market business. Chinese Mercantile Bank and ICBC Asset Management (Global) Company Limited, two wholly-owned subsidiaries of ICBC (Asia), specialise in renminbi services in the Chinese mainland and ICBC’s global asset management business respectively.

About the Hong Kong Institute of Information Technology (HKIIT)
The Hong Kong Institute of Information Technology (HKIIT) is a member institution of VTC, dedicated to offer IT and relevant technology programmes to nurture IT talents and to serve as an IT training and examination hub which will also give intensive and comprehensive support to the Government’s policies on innovation and technology (I&T), as well as the digital transformation of various industries.
Website: www.hkiit.edu.hk

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