Fintech has been widely applied across all types of financial services by incumbent banks, The incumbent banks have taken a pragmatic approach, adopting a wide range of Fintech innovations across financial services whilst eschewing applications of marketplace platforms that could facilitate a shift to disintermediation. Overall, the incumbents view Fintech more as an opportunity than a threat to their business operations, now and in the next five years.Although in general it may appear premature to evaluate the effectiveness of Fintech adoption, there are already some early signs of payoff, with more than a third of the incumbent banks stating that their prime objectives of adopting Fintech have been met. Most banks take either a “proactive adopters”approach to achieve first mover’s advantage or a “reactive adopters” strategy where transformational changes are implemented at a steady pace.The pace and degree of Fintech adoption will, however, hinge on whether certain challenges can be overcome,Incumbent banks are confident that,through adapting to the new environment,they will continue to play a key role and would not be displaced by new competitors. Nonetheless, they appear not to rule out other less but still dramatic scenarios as possibilities.If banks’views are any guide, precautionary preparations for more dramatic changes in Hong Kong’s banking industry structure, such as strengthened monitoring on the Fintech development as well as increased cooperation with different authorities responsible for oversight of regulatory functions related to Fintech, may be warranted.

* 번호 AR No. 01/2020서류를 확인 합니다