Regulatory Alerts2021-12-03
Added · Updated
Guide to Enhanced Competency Framework on Fintech
The Hong Kong Monetary Authority issued this guide to establish the Enhanced Competency Framework on Fintech, a non-statutory framework designed to develop a sustainable talent pool and raise professional competence for Fintech practitioners in Hong Kong's banking industry. The framework defines specific competency and qualification standards for relevant practitioners across Core and Professional levels, requiring completion of training modules and examinations administered by the Hong Kong Institute of Bankers. Authorized institutions are strongly encouraged to adopt these standards for benchmarking, recruitment, and continuing professional development, while the guide also outlines certification titles, grandfathering provisions for experienced staff, and modular exemptions.