In recent years, financial technology (FinTech) has flourished in Hong Kong, and FinTech startups have sprung up.
Although these start-ups are small in scale, they have all the internal organs. They are also capable of "catching up" with large financial institutions, applying innovative ideas to the actual financial environment, and jointly launching new technological solutions, which not only improve operational efficiency, but also bring more benefits. Many new financial products and services.
Hong Kong's premier index company, Hang Seng Indexes, which compiles and manages the Hang Seng Index series, recently partnered with two FinTech startups from Cyberport to promote the application of FinTech solutions in Hong Kong.
Look at the advantages of start-up and improve operational efficiency
Cyberport incubates start-up Rivermap to provide clients with an investment research platform driven by investment science and data science.
Hang Seng Indexes and Rivermap cooperated to research quantitative investment strategies, formulate stock selection and index weight calculation rules for the Hang Seng Smart Beta Index series launched last year, and jointly develop a customized system for historical data simulation and portfolio management. Innovative research and operating systems.
The Smart Beta Index captures six widely researched factors with long-term risk premia, including value, dividend yield, low volatility, and more, catering to investors who take a more aggressive approach to optimizing factor risk.
Anita, Chief Executive Officer of Hang Seng Indexes Company, said: "This cooperation further enriches the company's product range, enhances the ability to develop sophisticated indexes, and helps meet the different needs of customers in terms of indexes." Eddie Pang, founder of Rivermap, pointed out that Hang Seng The index company will continue to cooperate with Rivermap to jointly develop a new stock selection and index weight calculation system, which will be widely used in relevant indexes.
"The new system is characterized by its compatibility and scalability to assist financial technologists in the development of relevant indices."
In addition, Hang Seng Indexes has also adopted natural language processing (NLP) and deep learning developed by Wizpresso, another Cyberport startup, as its core technologies.
Calvin Cheng, CEO and founder of Wizpresso Technology, said: "As an important indicator of the Hong Kong stock market, the Hang Seng Index has strict requirements on the accuracy of data, and the compilation process involves a lot of review and due diligence. Our system covers 12 global markets. The stock market, more than 28,000 listed companies and more than 50 million disclosures. Hang Seng Indexes can extract a large amount of information and conduct data analysis through the disclosures of listed companies to compile sophisticated thematic indices.”
Moo Wan Man, CEO of Hang Seng Indexes, pointed out that the company will continue to explore leading innovative technologies, improve the efficiency of core business operations and carry out digital transformation.
(Left) Pang Zhaoen, founder of Rivermap, and (right) Wizpresso Technology CEO Zheng Jiahong said that the cooperation with Hang Seng Indexes will help their business expansion, and they hope to further deepen cooperation and support each other in the future.
Partnering with Cyberport Startups to Help Build a Diversified Financial Ecosystem
Hang Seng Indexes has been actively looking for opportunities to promote the application of fintech solutions in Hong Kong.
This time, the partnership between Rivermap and Wizpresso is a result of the strategic cooperation between the parent company Hang Seng Bank and Cyberport to jointly assist Hong Kong technology companies.
"As part of a local company born and raised in Hong Kong, we firmly believe that nurturing local start-ups is the key to making Hong Kong an international innovation hub. With its rich technological resources and well-established network of start-ups and technology companies, Cyberport is very suitable for our long-term development. Plans, which drive us to actively monitor new trends in market development, explore local start-up partners that align with the company’s strategic priorities, and build a diverse financial ecosystem. Such collaborations also demonstrate our commitment to further support the development of local start-ups.”
Eddie pointed out that joining Cyberport can help the company connect with more business partners and achieve cooperation opportunities.
In addition to business development and introduction of partners, Calvin also expects Wizpresso to continue to cooperate with Cyberport to provide internship opportunities to cultivate more fintech professionals.
(Information and photos provided by customers)
