Standard Chartered has joined forces with the University of Hong Kong (HKU) to launch a fintech academy to produce high-quality research and nurture ‘world-class’ talent.

The new academy, called HKU-SCF Fintech Academy, has received HKD60m ($7.7m) boost from Standard Chartered Foundation (SCF).

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The academy is expected to be hosted by the HKU’s department of computer science of the faculty of engineering, with support from the law and business and economics faculties.

Apart from a Bachelor’s degree in financial technology, the academy will also support a fintech Master’s degree from next year.

HKU President and vice-chancellor Xiang Zhang said: “The HKU-SCF Fintech Academy will be a centre of innovation for nurturing talents to shape the fintech industry across the region and strengthen Hong Kong’s position as a leading financial centre.”

In the next five years, the academy will equip nearly 1000 fintech professionals to tackle disruptive technologies aimed at creating a lasting impact on the banking and financial industry.

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Standard Chartered Hong Kong CEO Mary Huen said: “The fast pace of change in fintech has been impacting not just the business model of banks, but also the talents required for realising the smart banking ambitions for Hong Kong.

“Standard Chartered is proud to steer the co-creation of the Fintech Academy between HKU and SCF to cultivate future-fit talents and upskill bankers with disruptive technologies to capture the immense opportunities.”