As part of the 2023 study visit to Hong Kong and Shenzhen, a delegation of nearly 20 WSBI members from Europe, Africa, and Asia led by the WSBI-ESBG Managing Director, Peter Simon, had the privilege to tour the Bank of International Settlements (BIS) Innovation Hub situated within the Hong Kong Monetary Authority (HKMA) on the 31st October.

During this enlightening visit, our delegation delved into comprehensive discussions focused on the collaborative strategies of central banks in the region and beyond with the wider banking community. The pivotal topic of discussion? The initiation and advancement of Central Bank Digital Currencies (CBDCs) with a vision to promote broader financial inclusion and to develop enhanced financing avenues for Small and Medium-sized Enterprises (SMEs).

We are thankful for this opportunity for intellectual exchange and are keenly invested in monitoring and contributing to the evolution of digital banking paradigms globally.

The journey of our WSBI study visit to Hong Kong and Shenzhen on Innovation and Fintech continued, bringing us to the heart of Hong Kong – the BEAST Centre of our esteemed member, the Bank of East Asia, Limited.

The afternoon was a whirlwind of insights and knowledge exchange. BEA’s startup and esteemed tech partners, including giants like Google, Microsoft, and FORMS, shared profound perspectives on the challenges and opportunities intrinsic to data utilization and the seamless integration of next-gen AI within banking operations.

What resonated most was the undeniable role Hong Kong serves as the nerve center for fintech within the Greater Bay Area. Truly, an afternoon of inspiration and forward-thinking discourse.