FinTech Association of Hong Kong appoints new Chair and board, reaffirming growth potential in Greater Bay Area
- Neil Tan, CEO of blockchain start-up Neptune Digital and former HSBC and Deutsche Bank senior executive, appointed Chair
- New Board to strengthen FTAHK’s role as a “Super Connector” within the local and regional FinTech ecosystem and to bring closer interconnectivity within the Greater Bay Area
- 56% membership growth since 2018 exhibits the confidence and resilience of Hong Kong’s FinTech community
Hong Kong, SAR – 2 September 2022 – The FinTech Association of Hong Kong (FTAHK) announces today the appointment of Neil Tan as its new Chair to lead its 11-member-strong board in driving connectivity within the FinTech ecosystem in Hong Kong and beyond. As the Association commemorates its 5th year anniversary, Neil and his new board seek to strengthen its role as a “Super Connector” within the FinTech ecosystem to develop closer cross-border relationships with other associations, institutions and organisations within the Greater Bay Area and Asia Pacific Region through joint conferences, events, panels, and webinars.
Bringing over 20 years of cross-sector and cross-border experience in Asia through tenures in HSBC, Deutsche Bank, Boston Consulting Group and now as CEO of Neptune Digital, Neil succeeds Benjamin Quinlan, who has stepped down having completed the maximum two-year term as Chair. Neil was most recently the Co-Chair at the Association’s WealthTech Committee and Member of the InsurTech Committee.
“Hong Kong is one of the region's largest capital markets and a global financial centre, plus it enjoys unique connectivity and relationship with mainland China through the Greater Bay Area" Neil said. "The FinTech Association is working with these key elements to ensure Hong Kong remains a global FinTech hub and an environment in which FinTech flourishes. We want to cement our city's FinTech lead by working with key partners to foster the next generation of unicorns," he added, referring to private companies valued at US$1 billion or more.
Integrating the Association’s three core mission pillars: Advocacy, Collaboration and Education, the new FTAHK board’s key cornerstone strategy as a “Super Connector” is to form four types of partnerships, including with 1) FinTech startups, 2) financial institutions such as incumbent banks, insurers, asset management, securities houses, and other financial service firms, 3) accelerators and incubators, and 4) education institutions and universities. FTAHK already has existing strategic relations with other parts of the Hong Kong startup ecosystem, including Cyberport, Hong Kong Science & Technology Park, InvestHK, among others. It also has ongoing programmes with overseas FinTech associations such as in Singapore and the United Kingdom, as well as with industry associations in traditional financial services abroad.
Irene Lee, FTAHK board member leading the Greater Bay Area working group said, “With a market opportunity of US$1.68 trillion and nearly 90 million population, the Greater Bay Area continues to be a significant opportunity for our members and we understand how important it is for them to find suitable vendors and clients as partners to better capture this opportunity. At FTAHK we are committed to create an ecosystem that provides members with a structured and carefully curated matchmaking programme.”
Since its launch in 2017, the Association has grown to become one of the largest FinTech Associations in the Asia Pacific Region with members from a wide array of financial institutions, startups and numerous SMEs. Currently, FTAHK enjoys a balanced membership composition of 37% individuals, 29% corporates, 23% start-ups, and 11% SME members. (See photo 1)
“The COVID-19 situation was unfortunate in many ways, but also made us rethink how we can create value collectively,” Neil said. “The value is now getting redistributed on how we can connect and collaborate with people: by providing access points for deal-making, knowledge enrichment and even new job opportunities. We are excited that FTAHK is at the forefront of enabling these opportunities to happen.”
Photo 1: FTAHK appoints Neil Tan as its new Chair
Photo 2: FTAHK gathers for its first leadership meeting
Photo 3: FTAHK’s current membership composition
Photo 4: FTAHK and the Canadian Chamber of Commerce in Hong Kong held a recent networking forum to discuss the evolution of digital banking