Fintech Seminar - Incumbent Banks vs Virtual Banks

Speaker : Mr Raymond Cheng, Group GM & Chief Operating Officer, Asia Pacific, HSBC

Date :   12 September 2019 (Thu)

Time :  5:30  -  6:30 p.m.


The Hong Kong Monetary Authority (HKMA) defines a virtual bank as a bank that primarily delivers retail banking services through the Internet or other forms of electronic channels instead of physical branches. An incumbent bank, on the other hand, has headquarters, back offices and branches located across the markets in which it operates. During the seminar, Mr Cheng will compare these two types of the financial service organisations from business objectives, operating models, customer segmentations and foreseeable competition. He will also share with participants the outlook of the banking industry with new entrants to the market in the digital era.






 (852) 3943 7438


Mr Raymond Cheng is an Executive Committee member of HSBC Asia Pacific, assuming overall responsibility for Information Technology, Back Office Operations, Transformation, Corporate Real Estate and Procurement covering 19 countries and territories in the region. Mr Cheng is the Chairman of HSBC Technology and Services (China) Ltd, HSBC Electronic Data Processing (Guangdong) Ltd and HSBC Global Services (HK) Ltd.  He is also a Director of HSBC Bank (Vietnam) Ltd, Hong Kong Notes Printing Limited, HKICL, Hong Kong Trade Finance Platform Co Ltd, HKSTP Corporation and HK Institute for IT Professional Certification. In addition, he is the Independent Manager on School Board for Shun Tak Fraternal Association Yung Yau College.


Mr Cheng joined HSBC information technology department in Hong Kong after returning from the Netherlands, where he was undertaking academic research. Since then, he has worked in and led different IT functions and various projects locally and globally. Most of his experience is in delivering new technology and setting up operational services for the Bank. Apart from working in Hong Kong, he spent five years in Inc in North America from 2001 onwards.


The CUHK FinTech Seminar Series is co-organized by the Centre for Financial Engineering (CFE) and the Asia-Pacific Institute of Business (APIB). Industry practitioners are invited to campus to share their areas of expertise.  We see the advantage of bringing together the academia and industry experts, providing a platform to carry out fruitful and productive discussions, encourage the exchange of ideas and promote future collaboration opportunities.  CUHK students may also widen their exposure and receive some enlightenment in their career development.

Date Details
Feb 20, 2019


Topic: Transforming the Way in Managing Operational Risks in a Global Financial Organization
Speaker: Mr Raymond Cheng, Chief Operating Officer, Asia Pacific, HSBC
March 20, 2019 (Wednesday) Topic: Fintech: Something New Under the Sun?
Speaker: Mr. Nelson Chow, Chief Fintech Officer, Hong Kong Monetary Authority
Event Highlights
April 17, 2019 (Wednesday)
Topic: Inhouse Fintech Incubator – StartupXchange
Speaker: Mr. Matthew Ng, Senior Vice President, DBS HK & Mainland China
May 27, 2019 (Monday)
Topic: Digital Disruption in Financial Services
Speaker: Mr. Peter Clark, Regional Chief Information Officer, Standard Chartered Bank
Sep 12, 2019 (Thursday)
Topic: Incumbent Banks vs Virtual Banks
Speaker: Mr Raymond Cheng, Group GM & Chief Operating Officer, Asia Pacific, HSBC
Sep 19, 2019 (Thursday)
Topic: InsurTech
Speaker: Mr. Erwin Chak, Senior Manager Policy & Development, Insurance Authority
Oct 24, 2019 (Thursday) Topic: A FinTech Engagement Framework
Speaker: Mr. Gilbert Lee, Head of Strategy & Planning & Chief of Staff, Hang Seng Bank

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