The School of Business and Management of The Hong Kong University of Science and Technology (HKUST Business School) and ZhongAn Technologies International Group Ltd (ZA International) signed a Memorandum of Cooperation (MoC) to open up a new stream of opportunities for faculty and students in the fields of Fintech and Insurtech.
The HKUST Business School aspires to become a major intellectual powerhouse of Fintech in Asia and is undertaking a major Fintech research project funded by the Research Grants Council under its Theme-based Research Scheme. The project examines the impacts of Fintech on Hong Kong and looks into ways to contribute to the development of the city into a global Fintech hub.
ZA International, a subsidiary of ZhongAn Online (HKEX stock code: 6060), China’s largest online-only insurance firm, has been playing an active role in financial innovation in the new digital economy. The MoC with ZA International provides a great opportunity for HKUST Fintech Research Team to understand, first hand from a key industry stakeholder, the interplay between technology and financial services. It also outlines a framework for the two parties to strengthen collaboration on three major areas: Technology Research and Development, Training, and Entrepreneurial Incubation Program.
Prof. Sabrina LIN, Vice-President for Institutional Advancement of HKUST welcomed the collaboration and said at the signing ceremony, “HKUST and ZA International both see significant opportunities from the rapidly transforming financial industry in Hong Kong and beyond. Our collaboration with ZA International will accelerate complementary initiatives in Fintech research, experiential learning, and student innovation and leadership development.”
Mr. Wayne XU, President of ZA International, said, “We believe the new generation in Hong Kong has huge potential to bring changes to Hong Kong market. The collaboration between HKUST and ZA International is only the beginning for us to encourage and help students to get well prepared before graduation, especially if they have passion for Fintech and other new industries.”
The co-operation under the MoC will come in different forms, such as entrepreneurship competitions and incubation activities, joint research and forums, internship for students and employment opportunities for graduates, among others.
About ZA International
ZA International was established in Hong Kong in December 2017, by ZhongAn Online (HKEX stock code: 6060), an online-only insurtech company in China, to explore international business development, collaboration and investment opportunities in the areas of fintech and insurtech in overseas market. In August 2018, ZA International and SoftBank Vision Fund announced cooperation to boost ZhongAn’s technology solutions businesses outside China, with an initial focus on Asia. In March 2019, ZA International was granted a first batch virtual banking license by Hong Kong Monetary Authority (HKMA) through its wholly-owned subsidiary ZA Bank Limited. The license allows the company to offer a wide range of innovative online financial services to Hong Kong users.
HKUST Business School
Founded in 1991, the HKUST Business School is young, innovative and committed to advancing global business knowledge. The School has forged an international reputation for world class education programs and research performance, and has received many top global rankings. It is one of the first Asian business schools accredited by both AACSB and EQUIS. The School strives to contribute to the economic and social advancement of the region by developing future leaders who possess an innovative and entrepreneurial spirit as well as a strong sense of responsibility. We also take active steps to promote knowledge advancement in many significant business areas. For more information, please visit www.bm.ust.hk.
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