Press Release | ASTRI - Hong Kong Applied Science And Technology Research Institute Company Limited

BOCHK and ASTRI Establish FinTech Collaboration Centre To Drive Development of Financial Technologies in Hong Kong

Bank of China (Hong Kong) Limited (BOCHK) and Hong Kong Applied Science and Technology Research Institute (ASTRI) today signed a Memorandum of Understanding to establish the “BOCHK-ASTRI FinTech Collaboration Centre” (Centre), which aims to develop latest financial technologies (FinTech) which can be applied to the banking industry, fostering FinTech’s development in Hong Kong.

A signing ceremony was held at 70/F of Bank of China Tower today, and was officiated by Mr John C Tsang, Financial Secretary; Mr Yue Yi, Vice Chairman and Chief Executive of BOCHK; Ms Annie Choi, Commissioner for Innovation and Technology; Mr Wong Ming-yam, Board Chairman of ASTRI; Mr Howard Lee, Senior Executive Director of Hong Kong Monetary Authority; Mr Zhong Xiangqun, Chief Operating Officer of BOCHK; and Dr Frank Tong, Chief Executive Officer of ASTRI.

Financial Secretary Mr John C Tsang said at the signing ceremony, “BOCHK has a century-long history of providing comprehensive and reliable financial services to citizens; while ASTRI established by the Government in 2000 aims to enhance the competitiveness of Hong Kong’s industries through research and development. This collaboration, which marries the expertise of BOCHK in finance with that of ASTRI in technology, will surely achieve fruitful results.”

Mr Yue Yi, Vice Chairman and Chief Executive of BOCHK, said, “Bank of China and BOCHK place great importance on the FinTech development. BOCHK has already set up the ‘E-Finance Centre’ and ‘Innovation Lab’, and has been working proactively with partners to strengthen its efforts on innovation of technologies, products and channels for FinTech development. The newly established Centre will integrate ASTRI’s latest technologies, systems and platforms with BOCHK’s business application concepts, scenarios and solutions. This combination will effectively apply FinTech to the different businesses of the banking sector, enhancing productivity and bringing faster and more convenient financial services to the general public and companies in Hong Kong.”

“FinTech is one of the major areas of applications that ASTRI’s R&D efforts are directed to. In the coming years, ASTRI will dedicate more than 100 R&D experts to FinTech-related projects. We are very glad to be able to work with BOCHK together to contribute to Hong Kong’s FinTech development. The setting up of the Centre is a strong boost to the growth of FinTech. Experts from both parties will work closely together in the future. We are confident that FinTech will help raise operational efficiencies of local financial institutions and bring convenience and security to consumers, benefitting both the financial sector as well as consumers,” said ASTRI’s Board Chairman Mr Wong Ming-yam.

The Centre will embark on a number of projects. Focus areas include: blockchain technology, electronic payment technology, cyber security, big data analytics, behavioural recognition technology and so on.

Mr Zhong Xiangqun, Chief Operating Officer of BOCHK (left), and Dr Frank Tong, Chief Executive Officer of ASTRI (right), sign the Memorandum of Understanding to set up the “BOCHK-ASTRI FinTech Collaboration Centre”.

Mr John C Tsang, Financial Secretary (centre); Mr Yue Yi, Vice Chairman and Chief Executive of BOCHK (third right); Ms Annie Choi, Commissioner for Innovation and Technology (third left); Mr Wong Ming-yam, Board Chairman of ASTRI (second right); Mr Howard Lee, Senior Executive Director of Hong Kong Monetary Authority (second left); Mr Zhong Xiangqun, Chief Operating Officer of BOCHK (first left); and Dr Frank Tong, Chief Executive Officer of ASTRI (first right); officiate at the launch ceremony to mark the establishment of the “BOCHK-ASTRI FinTech Collaboration Centre”.

Delegates from United Overseas Bank Visit ASTRI

Delegates from United Overseas Bank including Mrs. Christine Ip, Managing Director and CEO Greater China, Mr. Aloysius Lai, Executive Director and Head of Technology and Operations, Ms. Helena Leung, Senior Vice President and Head of Legal, Mr. Kelvin Kwok, Executive Director and Head of Risk Management and Mr. K F Lam, Executive Director and Head of Compliance visited ASTRI on 14 July 2016. ASTRI’s CEO Dr. Frank Tong and CTO Dr. Meikei Ieong introduced to them a ASTRI’s FinTech initiative and related technologies including including ASTRI Security Lab, Cyber Range Lab, Blockchain, big data analytics and AI on Chinese character recognition, to name by a few. The delegates also engaged in a fruitful discussion about FinTech development.

ASTRI’s R&D expertise showcase ASTRI’s FinTech related technologies to the delegation.

ASTRI receives the Financial Secretary Mr John C Tsang with great pleasure and honour

ASTRI has had the great pleasure and honour today (13 July) to receive the Financial Secretary Mr John C Tsang.

Warmly welcomed and accompanied by ASTRI’s Board Chairman Mr Wong Ming-yam, Board Directors Prof Philip Chan, Prof Roland Chin and CEO Dr Frank Tong, Mr Tsang toured around ASTRI’s office where he was updated on ASTRI’s advancements in research areas of financial technology, including blockchain, big data analytics and cyber security, as well as real time 3D conversion platform, face recognition technology, behavioural biometric authentication technology, artificial intelligence on Chinese characters recognition and the Cyber Range Lab.

The tour ended with an interactive discussion in which Dr Frank Tong extended heart-felt thanks to Mr Tsang for visiting ASTRI.

(From left) ASTRI’s Chief Executive Officer Dr Frank Tong, Hong Kong Monetary Authority’s Senior Executive Director Mr Howard Lee, Commissioner for Innovation and Technology Ms Annie Choi, Financial Secretary Mr John C Tsang, ASTRI’s Board Chairman Mr Wong Ming-yam, Hong Kong Science and Technology Parks Corporation’s Board Chairman Mrs Fanny Law, ASTRI’s Board Member Prof Philip Chan, and ASTRI’s Board Member Prof Roland Chin.

(From left) ASTRI’s Vice President, Financial Technologies Dr Duncan Wong, ASTRI’s Chief Executive Officer Dr Frank Tong, ASTRI’s Board Member Prof Roland Chin, ASTRI’s Board Member Prof Philip Chan, ASTRI’s Board Chairman Mr Wong Ming-yam, Financial Secretary Mr John C Tsang, Commissioner for Innovation and Technology Ms Annie Choi, Hong Kong Science and Technology Parks Corporation’s Board Chairman Mrs Fanny Law, Hong Kong Monetary Authority’s Senior Executive Director Mr Howard Lee, ASTRI’s Chief Financial Officer Ms Cammy Yung, and ASTRI’s Chief Administrative Officer Ms Ivy Leung.

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Related Reference

Facebook of Financial Secretary Mr. John Tsang (update on 16/7/2016) (Chinese version only)

My Blog of Financial Secretary of the Government of the HKSAR (Chinese version only)

ASTRI and Airport Authority Set Up Joint Research and Development Centre To Help Transform Hong Kong International Airport into Smart Airport

[Hong Kong, 7 July 2016] Hong Kong Applied Science and Technology Research Institute (ASTRI) and Airport Authority Hong Kong (AA) today signed an agreement to establish the “ASTRI-HKIA Joint Research and Development Centre for Smart Airport” (Centre). The Centre will focus on the research on a number of new technologies that could help transform Hong Kong International Airport (HKIA) into a smart airport, and Hong Kong into a smart city.

ASTRI is the largest technology R&D institute in Hong Kong with more than 400 R&D experts coming from renowned local, national and overseas universities. ASTRI is committed to research and development, and made achievements in a number of areas, including wireless communications technologies, big data analytics, cyber security and intelligent manufacturing. These technologies have been widely applied in different industries.

The Centre will conduct proofs of concept to confirm the feasibility of applying a series of ASTRI’s technologies to future airport management that can increase the airport’s connectivity, security and intelligence. They are also meant to enable the airport to become smarter in areas including construction, operations, services, security and business qualities. The Centre will also look at the AA’s existing technologies and data, and explore the use of new technologies and innovations in 6 major areas, including passenger flow and operations, airfield and baggage operations, and airport safety and security.

Furthermore, based on the 5-year and 10-year technology roadmaps of HKIA, ASTRI will provide directions as to how the airport can move towards a smart airport by introducing wireless technologies, big data analytics and artificial intelligence.

“A smart airport is the epitome of a smart city. ASTRI’s technologies, if applied to HKIA, will not only turn it into a smart airport, but also facilitate Hong Kong’s development towards becoming a smart city,” said ASTRI’s Chairman Mr. Wong Ming-yam, BBS, JP.

“To maintain the airport’s competitiveness, the AA is dedicated to adopting latest technologies to enhance operational efficiencies and passengers’ experience. We will continue to work with different technology companies and research organisations to identify technologies and applications that can increase operational efficiencies and cost effectiveness and help create a smart airport,” said Mr. John Chai Sung-veng, Executive Director, Engineering and Technology of the AA.

Dr. Frank Tong, ASTRI’s Chief Executive Officer (left), and Mr. John Chai Sung-veng, Executive Director, Engineering and Technology of the AA (right), today sign an agreement to establish “ASTRI-HKIA Joint Research and Development Centre for Smart Airport”.

Welcoming Remark at ASTRI-HKIA Joint Research and Development Centre for Smart Airport Collaboration Agreement Signing Ceremony

The following is the Welcoming Remark by Mr. Wong Ming-yam, BBS, JP, Chairman of ASTRI at Collaboration Agreement Signing of ASTRI-HKIA Joint Research and Development Centre on 7 July 2016.

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Ladies and gentlemen,

It gives me immense pleasure today to attend and witness the signing of collaboration agreement between ASTRI and Airport Authority Hong Kong to set up a Joint R & D Centre for Smart Airport.

Hong Kong International Airport is famous for 2 “B”’s — Best and Busiest.

In 2015, the passenger throughput of HKIA was 68.5 million and the air cargo throughput was 4.38 million tonnes. At the peak hours, our airport handled 68 flights per hour, which means, more than 1 flight in a minute. These figures implies that highest efficiency with no compromise on service and quality is required. How this can be achieved? I think the answer lies in continuous innovation and advanced technology that would give us smart solutions and service enhancement.

It is against this background and shared objective that this MOU is signed, which will mark the beginning of our cooperation in developing new products and processes in the field of Internet of Things, mobility, data analytics as well as open and integrated platform, to name but a few.

I believe that the development of smart airport will give passengers around the world the best travel experience and an unforgettable impression once they touch down in Hong Kong. It will also take the efficiency of Hong Kong’s aviation industry, already superb now, to scale new heights.

Before I close, I would like to take this opportunity to express my heart-felt thanks to colleagues from AAHK to come all the way from Lantau to Hong Kong Science Park to attend this ceremony and choosing us as the trusted partner to work together for the development of smart airport, which is an integrated part Hong Kong’s transformation into a smart city.

Thank you.

Junior reporters of Wing Han Education Foundation Ltd Little Journalist Programme interview ASTRI Chairman and CEO

8 junior reporters and 12 primary school students from ELCHK Faith Love Lutheran School attending the Little Journalist Programme of Wing Han Education Foundation Ltd. visited ASTRI on 7 July 2016. They conducted an interview with Chairman Mr. Wong Ming-yam, BBS, JP, and Chief Executive Officer Dr. Frank Tong to understand more about ASTRI. ASTRI’s R&D experts also introduced to them ASTRI’s latest technologies including facial recognition, real-time 3D conversion platform for glasses free 3D display and Cyber Range Lab.

Students from Delft University of Technology visit ASTRI

Students from Delft University of Technology, the Netherlands including 21 master’s degree students and 9 final year undergraduate students visited ASTRI on 6 July 2016. Dr. Zhang Chun, Principal Engineering of Opto-electronics introduced to them ASTRI’s research projects while Dr. Nikitin Vladislav, Senior Engineer of Opto-electronics shared his work experience in ASTRI. In addition to sharing sessions, ASTRI’s R&D experts introduced to them ASTRI’s latest technologies including the Pulse Oximeter.

Students from Delft University of Technology, the Netherlands visit ASTRI.

Dr. Zhang Chun, Principal Engineering of Opto-electronics of ASTRI (left) and Dr. Nikitin Vladislav, Senior Engineer of Opto-electronics of ASTRI (right) share their research work and experience with the students.

ASTRI R&D expert delivers talks on See Through Display Technologies

Mr. Kenny Chan, Senior Manager, Intelligent Devices of ASTRI was recently invited by Hong Kong Electronics & Technologies Association (HKETA) and HKUST Mainland Alumni Association to deliver talks on “See Through Display Technologies – Opportunities & Challenges”.

Mr. Chan gave a presentation at HKETA JUNE Networking Dinner on 24 June 2016 which was organized by Hong Kong Electronics & Technologies Association. For details, please refer to http://www.hketa.org.hk/events/categoryDetail.shtml?category_id=115&type=1 (in English only)

He also gave a talk at Clear Water Bay Entrepreneurship Forum on 26 June 2016 which was organized by HKUST Mainland Alumni Association. For details, please refer to http://www.hkustmaa.org/2016/06/678/ (in Chinese only)

Talk at HKETA JUNE Networking Dinner held on 24 Jun 2016.

Talk at Clear Water Bay Entrepreneurship Forum held on 26 June 2016.

ASTRI presents technology projects to students from CityU Department of Mechanical and Biomedical Engineering

Over 30 students from Department of Mechanical and Biomedical Engineering of City University of Hong Kong visited Hong Kong Science and Technology Parks on 4 July, 2016 and attended an ASTRI Introduction session hosted by Mr. Vincent Hou, Manager of Chief Technology Officer Office of ASTRI. ASTRI’s Senior Technical Manager Dr. John Tsang also introduced to them ASTRI’s health technology projects.

Mr. Vincent Hou, Manager of Chief Technology Officer Office of ASTRI introduces ASTRI to the students.

ASTRI’s Senior Technical Manager Dr. John Tsang introduces ASTRI’s health technology projects to the students

Senior Management of The Hong Kong Federation of Insurers Visit ASTRI

The Hong Kong Federation of Insurers’ Chief Executive Mr. Peter C. H. Tam and General Manager, Communications & Committee, Ms. Selina Lau visited ASTRI on 30 June 2016. Apart from engaging in fruitful discussion with the senior management of ASTRI, the delegates also toured around ASTRI Security Lab and Cyber Range Lab, and viewed a number of demonstrations of ASTRI’s technologies.