With the Hong Kong FinTech week around the corner, we’ve caught up with Susan Ho, SVP, Brand, Communications and Partnerships at Airwallex, Caroline York, Head of Corporate Communications at AQUMON and Walter Jennings, Head of Corporate Communications at HashKey Group. They share their take on how a sense of security can be conveyed through comms, what regulators can do to facilitate innovation and what the upcoming trends and opportunities are.

What fascinates you the most about FinTech and how would you communicate these points to people who may not be as enthusiastic as you are? 

Susan Ho
Managing our finances, whether as an individual or for a business, is so integral to our lives and what we do today.  Marrying technology with financial services allows us to benefit from improvements and innovation as the world becomes increasingly digital. This is our future - embrace it and don't get left behind. 

How can comms professionals help translate the sense of security people want when it comes to online financial services?

Susan Ho
Many people are still uncomfortable with the innovation that technology has brought to financial services, so our job as comms professionals is to demystify the tech jargon and simplify the language used to help brands gain the trust of their customers. Ultimately, we are creating solutions to address the pain points of our customers, and we can only earn their trust by delivering an outstanding customer experience while being compliant with regulatory requirements. 

Caroline York
Part of the journey for FinTech companies is to develop resonance and gain our customers' confidence, especially when we are less established compared to the big players. The appeal of disruptive technologies and progressive firms such as AQUMON is that they are authentic, approachable and prioritise customer empowerment. Digitally native consumers prefer real-time, efficient and bite-sized communication on their terms. Therefore, our role is to foster this connection by simplifying the experience: cutting the jargon, educating to empower our users, and actively listening to the community. Through consistent and authentic dialogues, we establish the trust and security required to humanise digital finances.

What can regulators in Hong Kong do to facilitate FinTech?

Caroline York
To maintain Hong Kong's competitiveness, the climate must be favourable towards innovation.  Regulators should aim to engage in frequent discourse to keep informed of the rapid developments in FinTech. It is crucial that the regulators themselves become more fluent in the new FinTech offerings to truly understand the opportunities for its application throughout the industry. Moreover government-backed programmes and incubation hubs such as Cyberport Hong Kong, help enormously to bridge the conversation and connect start-ups to regulators for wider dialogues.

Walter Jennings
FinTech makes sense in Hong Kong. We have a long history as a finance centre with clear laws and regulations. And as part of GBA, we tap into China tech and blockchain - a national, strategic priority for China. HashKey Group is applying for SFC approval for a virtual asset exchange open only to professional investors and institutions. Current regulations don’t offer options for retail investors, which needs to be considered. Other virtual exchanges are making long-term investments and need clarity of regulations on accessing the retail market. We expect Hong Kong to continue to keep ahead with well-considered regulations.

What are some upcoming FinTech trends and opportunities in the digital financial service landscape?

Walter Jennings
COVID and national lockdowns led to a once-in-a-lifetime leap forward in technology adoption. We all had time and challenges, and we all dove into new tools from Zoom to Slack to webinars and other sharing technologies. The same has happened in finance. New technologies mean new services to meet the growing demands of connected consumers. I know these changes will stick with us forever. I’m watching the growth of institutional investment in cryptocurrencies, as well as the mass interest in contemporary art offerings on NFTs.