The Hong Kong Fintech Promotion Blueprint – The Acceleration of Adopting Emerging Financial Technologies

News Update:

The Hong Kong Fintech Promotion Blueprint – The Acceleration of Adopting Emerging Financial Technologies

28 April 2026

Introduction

The Hong Kong Monetary Authority (“HKMA”) has released a comprehensive Fintech Promotion Blueprint in February 2026 setting out concrete measures to push Hong Kong’s banking sector from broad, basic use of digital tools into deeply embedded, sophisticated financial technology across core operations.

From “All Banks Go Fintech” to Advanced Adoption

The Blueprint builds on the HKMA’s “Fintech 2030” strategy and the earlier Fintech Promotion Roadmap, which helped banks digitise front‑to‑back operations under the “All Banks Go Fintech” initiative. Comparing data from 2022 to 2025, 95% of surveyed banks – including all retail banks – had adopted fintech for end‑to‑end digitalisation, with particularly high uptake in Regtech (from 83% to 97%), Insurtech (28% to 57%), Greentech (26% to 45%) and Wealthtech (43% to 52%). Banks are also increasing investment: 36% have allocated more than 30% of their technology budgets to fintech, 95% have planned to maintain or increase these levels over the next three years, and half have expected budget growth of 10 – 20%.

Yet the HKMA notes that most institutions still deploy fintech as standalone tools which neither fundamentally re‑engineer processes nor integrate into core operating models, thereby limiting return on investment and slowing more ambitious adoption. The new Blueprint therefore shifts the emphasis from breadth to depth, aiming to move the industry towards “Advanced” maturity, where fintech is embedded in day‑to‑day operations and delivers tangible business value.

Five Pillars: A.I., DLT, HPC, Data and Cyber

The Blueprint is structured around five priority enablers and foundations: Artificial Intelligence (“A.I.”), Distributed Ledger Technology (“DLT”), High‑Performance Computing (“HPC”), Data Excellence, and Cyber Resilience.

Artificial Intelligence

Hong Kong’s financial sector is entering a new phase of A.I., progressing from traditional models used for fraud detection and credit scoring towards Generative A.I. (“GenA.I.”) and agentic A.I. GenA.I. is already powering applications such as anti‑money laundering systems that analyse transaction narratives and communications, and conversational agents that autonomously handle customer queries, supported by the HKMA’s GenA.I. Sandbox. Agentic A.I., emerging since 2025, enables autonomous monitoring, decision‑making and execution, for example real‑time fraud prevention that can freeze accounts or multi‑agent loan approval processes that coordinate risk assessment, identity verification and disbursement.

However, institutions report significant barriers: limited revenue‑generating use cases, concerns around accuracy and “hallucinations” (plausible yet factually incorrect outputs), integration with fragmented legacy systems, decentralised data, and acute talent shortages that combine technical, regulatory and business skills. Smaller banks lag behind their larger peers in adoption, with only 63% of small firms using A.I. compared with 83% of large firms. The Blueprint prioritises industry‑wide knowledge exchange, targeted upskilling, expanded sandbox use and shared infrastructure to enable safe, scalable and impactful A.I. adoption.

Distributed Ledger Technology

DLT is framed as a driver of tokenisation and next‑generation payments by providing shared, synchronised ledgers that support faster, more secure transactions and asset tokenisation. The Blueprint cites live examples including the HKSAR Government’s tokenised Green Bonds and the HKMA’s e‑HKD+ initiative, as well as Project Ensemble, a sandbox for cross‑boundary settlement in tokenised deposits, and the Supervisory Incubator for DLT.

Despite this progress, banks face heavy integration costs with legacy systems, interoperability and scalability constraints, smart‑contract and private‑key risks, difficulties in reversing fraudulent immutable transactions, and regulatory uncertainty over digital asset classification and smart‑contract enforceability. The HKMA therefore sets promotion priorities around sharing concrete integration strategies and commercially successful use cases, building production‑level skills (especially in smart contracts), and working towards clearer standards on asset classification, security baselines and preferred network architectures to support scalable and interoperable deployments.

High‑Performance Computing

HPC – including supercomputing and quantum computing – is positioned as critical infrastructure for advanced modelling, A.I. and risk analytics. Supercomputers can already support intensive risk simulations, portfolio stress‑testing and quantitative trading strategy optimisation, while also providing compute for GenA.I. workloads, for example via Cyberport’s A.I. Supercomputing Centre. Quantum computing is highlighted for its potential in portfolio optimisation, scenario analysis, product pricing and fraud detection, but also for the threat it poses to current cryptography.

Adoption is hampered by high cost, lack of supporting infrastructure, energy and cooling demands, and specialised talent gaps, with some smaller banks not exploring HPC at all. The Blueprint therefore calls for shared supercomputing facilities, broader literacy on supercomputing and quantum concepts, and early integration of post‑quantum cryptography (“PQC”) to address “harvest now, decrypt later” risks.

Data Excellence

Data Excellence is identified as a core foundation for A.I., DLT and advanced risk management, but many banks struggle with incomplete and inconsistent datasets locked in fragmented legacy systems. Batch‑oriented mainframes, non‑standard formats and isolated repositories prevent unified customer views, real‑time monitoring and high‑quality model training, while growing volumes of unstructured and cross‑border data add complexity.

The Blueprint calls for structured programmes to share best practices in managing structured and unstructured data, governance frameworks for internal and external data use, and sector‑wide standards on interoperability, formats and validation to improve availability, quality and sharing of risk data.

Cyber Resilience

As advanced fintech deployments demand large, granular datasets, cyber and privacy risks intensify. The Blueprint highlights adversarial A.I. attacks (such as poisoned training data, prompt‑injection, and deepfakes), smart‑contract bugs and oracle manipulation in DLT, and quantum‑enabled cryptographic threats, compounded by multi‑layered third‑party supply chains in cloud, data and platform services. HKMA’s priorities include stronger governance of third‑party risks, sector‑wide sharing of threat intelligence and defensive practices, and  definition of baseline expectations for cyber standards in advanced fintech solutions.

Market Landscape: Adoption Progress and Pain Points

The Blueprint describes a rich fintech ecosystem in Hong Kong comprising fintech firms, financial institutions, regulators, investors, industry associations, academia and the public, all connected through platforms such as Fintech Connect, the FiNETech event series, the Commercial Data Interchange (“CDI”), GenA.I. Sandbox and the Supervisory Incubator for DLT. Government grants, the Digital Bond Grant Scheme, and Cyberport and HKSTP incubation programmes further de‑risk adoption and support solution development.

Despite this, the Tech Maturity Stock‑take identifies persistent barriers: 75% of banks cite high implementation costs, 73% highlight risks associated with new technologies, 71% struggle with integration into existing systems, 61% worry about data privacy and cybersecurity, and 59% report regulatory uncertainty and talent shortages. These challenges, especially for smaller institutions, reinforce the need for tactical and coordinated measures – the core focus of the new Blueprint.

Key Priorities: From Use Cases to Standards

Drawing on its research and engagement, the HKMA distils five priority directions that underpin the Blueprint’s design:

• For A.I., the priority is to move beyond internal pilots to advanced, customer‑facing use cases with measurable ROI, supported by proven case studies and connections to credible solution providers;
• For DLT, the focus is on embedding tokenisation, real‑time transactions and cross‑boundary settlements into business models, underpinned by clear standards for interoperability, asset classification and smart‑contract enforceability;
• For HPC, the Blueprint emphasises literacy, targeted education and clear integration pathways to prepare institutions for the post‑quantum era;
• For Data Excellence, the focus is to develop industry‑wide standards and guidance on managing diverse datasets and integrating external data sources for analytics, fraud prevention and risk modelling; and
• For Cyber Resilience, priorities include better governance of technology‑specific risks, especially third‑party risks, and collaborative programmes for sharing cyber risk intelligence and defensive practices.

These priorities feed into a Blueprint architecture with three strategic dimensions – (1) Ecosystem Collaboration, (2) Technological Advancement and (3) Talent & Outreach – each populated with concrete initiatives.

Blueprint Design 1: Ecosystem Collaboration

Beyond the flagship projects, the Blueprint sets out a series of ecosystem initiatives designed to increase connectivity and reduce search and coordination costs in the market:

• Fintech Cybersecurity Baseline: To streamline banks’ due diligence when onboarding fintech partners, HKMA will develop a standardised, industry‑led Fintech Cybersecurity Baseline for solution providers. This will define clear expectations on technological capabilities, operational readiness and security controls – with emphasis on emerging risks in A.I. and DLT – supported by guidance materials so providers can align their products. The baseline is designed to reduce misinterpretation of regulatory requirements, strengthen trust between banks and fintech firms, and lift cyber resilience across the ecosystem.
• Events and FiNETech: The HKMA will continue and expand conferences, FiNETech events and satellite activities to promote knowledge sharing on A.I., DLT, HPC, Data Excellence and Cyber Resilience, while showcasing global innovation and promoting Hong Kong as a leading international fintech hub;
• Hong Kong A.I. Fintech Map: A new publicly accessible directory will map A.I. and GenA.I. firms active in financial services, detailing their capabilities and use cases and integrating with Fintech Connect to make solution discovery more efficient; and
• Revamped Fintech Connect: The cross‑sectoral sourcing platform launched in 2024 will be enhanced with richer profiles of fintech providers and potential A.I.‑driven matching functionality, enabling banks to articulate problems and receive tailored solution recommendations. The HKMA will also explore linking platform registration to event participation to deepen engagement.

These measures are designed to transform current bilateral engagements into a more structured, data‑rich collaboration fabric that helps banks find credible partners and scale proven solutions more quickly.

Blueprint Design 2: Technological Advancement

Under the Technological Advancement dimension, the HKMA will deploy multiple content‑based and engagement‑based tools that translate complex technologies into implementable blueprints for banks:

• Quantum Preparedness Index: To help the sector prepare for quantum disruption, the HKMA will launch a Quantum Preparedness Index, starting with a baseline assessment of banks’ strategic awareness and operational readiness regarding quantum computing and PQC. This assessment will inform a “target index” and a transition roadmap, outlining concrete PQC and quantum computing projects and pilots to systematically raise quantum readiness, especially among small and medium‑sized banks.
• New Risk Data Strategy: Recognising that high‑quality risk data is essential to unlock the potential of A.I., DLT and HPC, the HKMA proposes a New Risk Data Strategy to foster collaboration, collect feedback and share best practices in data management. The strategy aims to enhance data infrastructure, enable smarter risk management and proactive insights, and broaden the scope of the HKMA’s Granular Data Reporting to cover more supervisory data, ultimately building a collaborative risk‑data ecosystem between banks, service providers and the HKMA.
• Publications: Building on prior guides and research, new in‑depth publications will cover A.I., DLT, HPC, Data Excellence and Cyber Resilience, drawing on surveys, interviews and case studies to highlight real‑world applications, risk management considerations and integration strategies;
• Industry Showcase Workshops: Hands‑on workshops will feature local experts and fintech firms demonstrating emerging technologies such as agentic A.I., tokenised assets and quantum computing, with follow‑up resources to support implementation and collaboration; and
• Digital Content: The HKMA will produce podcasts and video spotlights featuring expert discussions and case studies on topics such as A.I. bias mitigation, DLT–legacy interoperability and HPC’s impact on analytics and decision‑making.

These initiatives aim to turn abstract innovation narratives into practical, repeatable models that banks can adapt and deploy in their own environments.

Blueprint Design 3: Talent and Outreach

To ensure human capital keeps pace with the technology push, the Blueprint extends the HKMA’s talent and outreach agenda:

• Competency Development Support: To close A.I. and DLT skills gaps, the HKMA will explore the competency needs of fintech users in banks and develop practical tools that complement existing frameworks such as the Hong Kong Institute of Bankers’ Enhanced Competency Framework (“ECF”) – Fintech. With a strong focus on “human–machine interaction”, this initiative will support continuous learning via modular training resources, peer‑sharing platforms and skill‑progression guidance, building a more resilient, adaptable workforce ready to implement advanced fintech safely and effectively;
• Training Programme: Building on positive feedback from “All Banks Go Fintech”, the HKMA will roll out training modules across A.I., DLT, HPC, Data Excellence and Cyber Resilience, with a heavy emphasis on hands‑on exercises and real‑world scenarios, delivered via the Fintech Knowledge Hub;
• Competitions: New innovation competitions will focus on advanced use cases of GenA.I. and DLT, following the successful Green Fintech competitions of 2023 and 2025. They will encourage responsible innovation, attract global participation and help banks connect with leading solution providers; and
• Knowledge Repositories: A specialised repository within the Fintech Knowledge Hub will host technical artefacts such as GenA.I. prompt references and DLT smart‑contract designs tailored for finance, populated in collaboration with industry contributors.

These measures are intended to progressively raise the baseline of technical and practical competence across the industry, enabling institutions to adopt and govern sophisticated fintech safely.

Measuring Impact and Next Steps

To ensure the Blueprint translates into concrete results, the HKMA will monitor progress at both initiative and programme levels. Initiative‑level metrics will track engagement and behavioural changes, while programme‑level assessment will evaluate systemic progress across Ecosystem Collaboration, Technological Advancement and Talent & Outreach, allowing the HKMA to recalibrate actions as market conditions evolve.

The HKMA will kick off implementation with a FiNETech event on Data Excellence in the second quarter of 2026 and will continue to refine the initiatives through active engagement with banks, technology firms and other regulators. Ultimately, the Blueprint positions Hong Kong to move from foundational fintech adoption to strategic technological leadership, using targeted, tactical measures to accelerate the uptake of advanced, responsible financial technology across its financial industry.

Please contact our Partner Mr. Rodney Teoh for any enquiries or further information.

This news update is for information purposes only. Its content does not constitute legal advice and should not be treated as such. Stevenson, Wong & Co. will not be liable to you in respect of any special, indirect or consequential loss or damage arising from or in connection with any decision made, action or inaction taken in reliance on the information set out herein.