The Hong Kong Institute for Monetary and Financial Research (HKIMR) has published a report titled “The Digitalisation of Financial Services in Hong Kong: Recent Experience, Regulatory Developments and Considerations for Sustainable Innovation and Growth”, which examines the market and policy factors that have driven the digitalisation of financial services in Hong Kong. The report analyses the potential benefits of digitalisation for financial inclusion and environmental sustainability, as well as the risks for consumers. It also discusses measures that have been implemented to mitigate these risks and enhance consumer protection, and concludes with recommendations for sustainable innovation and growth in the digitalisation of financial services in Hong Kong. The HKIMR hopes that this report, along with others to be published in the future, will provide valuable insights for financial institutions and regulators to promote a healthy and sustainable digitalisation journey for the financial services industry in Hong Kong.
Report:
https://www.aof.org.hk/docs/default-source/hkimr/applied-research-report/drep.pdf
Resource:
https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/07/20230712-3/
