Hong Kong Fintech Week 2023: Fintech Redefined

The wait is over! We’re excited to announce the official theme of Hong Kong FinTech Week 2023: Fintech Redefined. 金融科技新定義

From the ever-changing world that we live in, to the rapid development of AI and Web3, new forces are shaping the fabric of Fintech as we know it. Hong Kong is at the heart of where this redefinition is happening. Where new business models are being created, rules for a new world are being shaped, and new opportunities are emerging.

Come to Hong Kong Fintech Week to experience this new paradigm, hear from its leaders, and learn how to navigate the future of Fintech.

Over the past few decades, financial institutions have been investing in technology to optimize their operations and maintain competitiveness. Many remained successful thanks to their substantial war chests to invest in technology and partners, as well as their extensive regulatory experience.

Yet during this time, the rise of digital, fines and stricter regulation post-2008, paved way for a new breed of “Fintech 2.0” start-ups. These have grown exponentially by harnessing technology to create new business models under the umbrella of the existing financial system to better serve customers, new markets as well as underserved segments. Not all are ‘eating the lunch’ of the traditional institutions, with some finding a role to address the pain points of traditional players.

Forces Driving Change

Now a critical mass of market forces is creating a paradigm shift towards a new era of Fintech:

• Inevitable evolution from Web2 to Web3
• Bifurcation of financial and technological systems
• The rise of next generation “Web3 native” users
• The pivot to Asia
• The increasing role for technology to unlock ESG initiatives and investment
• Rapid development of advanced technologies such as Artificial Intelligence
• What we know as Fintech has been defined by the parameters of what we know today.

However, the game has changed. These forces are creating new tensions across multiple fronts – technologically, culturally and economically.

The result of this paradigm shift is a new definition of Fintech where new models, rules and value creation will emerge.