Welcome to the Journey to Formation Learning and Impact Series. In our latest session, we explore the successes and insights of the FinTech Association of Hong Kong, with Raphael Jansa, General Manager. Watch the recording here to delve deeper into the FinTech Association of Hong Kong’s journey and gather valuable insights for your DFAs journey. Join us as we continue to learn, grow, and shape the future of fintech together.
In 2017, the FinTech Association of Hong Kong emerged during a period of growth in Hong Kong’s fintech landscape. This era saw growth in the fintech industry, with advancements in digital payments, data aggregation, the rise of digital banks and insurers Hong Kong solidified its position as a global hub.
Key Highlights and Takeaways from Our Conversation:
- Adapting to Industry Trends: Stay agile and responsive to the ever-evolving fintech landscape. Seize opportunities presented by emerging trends to drive impactful initiatives forward.
- Building a Diverse Community: Foster inclusivity by welcoming participants from all sectors and backgrounds within the fintech ecosystem. Embrace diversity to enrich discussions and fuel collaboration.
- Stakeholder Engagement: Forge robust relationships with stakeholders across the fintech spectrum, including government bodies, regulators, industry players, and educational institutions. Collaboration enhances credibility and fosters impactful outcomes.
- Prioritising Connectivity and Engagement: Cultivate a strong sense of community through regular events, networking opportunities, and knowledge-sharing initiatives. Connectivity fosters collaboration, learning, and innovation within the ecosystem.
- Offering Diverse Events and Opportunities: Provide diverse events and content to cater to the interests and preferences of your community. Flexibility ensures broader participation and engagement.
- Value Proposition and Mission Over Revenue Maximisation: Focus on delivering value to members rather than solely prioritising revenue generation. A strong value proposition builds trust, engagement, and loyalty within the community. Embrace a culture of continuous learning and improvement by reflecting on experiences, seeking feedback, and adapting strategies. This mission-driven approach ensures long-term sustainability by aligning goals with the needs and interests of the community, optimizing impact and effectiveness over time.
- Collaborating with Stakeholders: Engage with regulators, government bodies, and educational institutions to drive industry progress collaboratively. Building partnerships enhances credibility and facilitates impactful initiatives.
- Commitment to Industry Advancement: Maintain a steadfast commitment to advancing the fintech industry through advocacy, support for innovation, and collaboration.
- The Value of Independence: Having revenue sources from membership fees and activities enables a DFA to operate without receiving funding from government. This enables a DFA to authentically represent the sentiments of its ecosystem and gives autonomy to provide the freedom to advocate honestly and candidly, to support effective policy and regulatory engagement.
Reflections and Acknowledgments
Our session with the FinTech Association of Hong Kong highlighted their model for managing a fintech association and achieving impact within the ecosystem. As we reflect on these insights, let’s draw inspiration from their journey and apply these lessons to our own endeavors.