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HSBC, Hong Kong’s science park sign 3-year partnership to drive fintech development
- Hong Kong’s biggest bank and start-up hub aim to build ‘international fintech corridor’ to further city’s goal of being international hub for such technology
- HSBC will provide financial services to Hong Kong Science and Technology Parks companies and look to adopt their technologies
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Hong Kong’s largest bank HSBC and start-up hub Hong Kong Science and Technology Parks (HKSTP) will work together to drive fintech development, supporting the city’s aspiration of creating a digital economy and becoming an international hub for such technology.
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The two entities signed a three-year agreement on Monday to leverage their resources, expertise and networks to foster collaboration. The partnership is the first “public-private cooperation between the city’s largest innovation and technology ecosystem and leading global bank”, the companies said on Tuesday.
“Bank-fintech partnerships unlock value for parties on each side of the equation, making banking better for consumers and businesses alike,” said Luanne Lim, CEO of HSBC Hong Kong.
Under the partnership, HSBC and HKSTP will build an “international fintech corridor” that will see collaboration between Hong Kong fintech firms and global partners and attract companies to set up in the city. Outputs will include market insights, services, and events such as HKSTP’s annual event Elevator Pitch Competition.
Other focus areas include offering investment opportunities and financial services to fintech companies.
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