Accelerating Hong Kong’s Innovation Development


In order to promote business innovation and digital development in Hong Kong over the next three years, Hong Kong Science & Technology Parks Corporation (‘HKSTP’) and a Hong Kong-based banking and financial services company are strengthening their partnership. This includes the creation of Hong Kong’s first “Living Lab for the Branch of the Future,” a program to help innovative businesses expand in the GBA, and various other investment and incubation activities.


In the past three years, HKSTP and the business have created a wide range of cutting-edge digital banking solutions that have improved customer service and results. The partners are using the achievement as a springboard to advance customer-centric banking, with a focus on improving incubation assistance for cutting-edge businesses and further streamlining and speeding client banking journeys.


The sizable interactive digital wall at the financial services company’s MOSTown Branch in Ma On Shan, which went into operation in 2020, is one of the partnership’s most notable initiatives to date. The start-up IOIO Creative, which is a part of the HKSTP ecosystem, helped create the interactive digital wall. Numerous real-time market and financial data are available on the wall. Customers can engage with the wall by scanning any of the QR codes with their smartphones to instantly get information about points of interest.


According to the CEO of HKSTP, the three-year partnership with the bank is moving into a new phase of collaboration that will spur more innovation and have a stronger influence on customers, companies, and the banking industry as a whole. As innovation enables startups and the banking sector to form a new era of financial services, the most recent sequence of innovation activities between the two will determine the future of banking for Hong Kong and the larger GBA region.


According to the banking firm’s Head of Strategy & Planning and Chief of Staff to CE, by fusing the strengths of the two parties, the partnership will not only help the company advance its innovation strategy but also benefit all stakeholders in Hong Kong and the Mainland, strengthening Hong Kong’s position as a global innovation hub. The interactive digital wall at the MOSTown Branch in Ma On Shan, according to the company’s head of retail distribution, is a fantastic example of how our partnership with HKSTP is advancing this goal. The collaboration with HKSTP to create and introduce new, clever solutions that improve branch efficiency and online-to-offline banking services will assist in giving clients exceptional customer service experiences.


The “Living Lab for the Branch of the Future,” one of the new collaborative efforts, will offer a real-life commercial testing ground for technology trials and branch services to aid in the development of customer-centric digital innovations. In order to co-create banking solutions that enable seamless online-to-offline service experiences for customers, The Lab will bring together technology and industry partners.


The cooperation also includes Hang Seng offering a variety of specialized banking and finance support services to HKSTP businesses looking to expand their reach and service areas to the GBA. The bank was also the first of several industry-leading businesses and start-ups to take advantage of what the HKSTP FinTech Centre at the Kowloon Tong InnoCentre has to offer. Banks and other financial organizations can investigate potential cooperative prospects to foster fintech innovation in Hong Kong thanks to the specialized fintech center, which facilitates effective and direct engagement with the fintech and technology community.