Big Data Analytics in Virtual Banks: Benefits and Challenges in Adopting AI

13 April 2021

Mr. Michael Ng, Head of Fintech Solutions at Ping An OneConnect Bank, has spent a wonderful evening with HKSYU and share with us the current business and regulatory landscape of the development of Virtual Bank in Hong Kong. In light of the rapid technological advancement, it is important to understand the benefits and risks brought by fintech, and to support its healthy development. Mr. Ng concluded with his appreciation of the fact that whilst HK regulators are keen and active in promoting technology into our financial system, the fundamental values which contributes to our financial stability are not forgotten nor compromised. Whilst our audience reflected that the importance of proper due diligence, risk management and compliance are still fundamental.