The Monetary Authority announced the Financial Technology Promotion Blueprint to promote responsible innovation and advanced applications of financial technology

The Monetary Authority announced a blueprint for promoting financial technology, proposing to drive responsible innovation and advanced applications of financial technology. The blueprint aims to enhance the banking sector's risk management capabilities when utilizing advanced technology by promoting the application of high-performance computing infrastructure, expanding advanced solutions for artificial intelligence and distributed ledger technology (DLT), and basing it on data excellence and network resilience.

In the coming months, the Monetary Authority will launch four flagship projects, including a quantum readiness index, a new risk data strategy, a financial technology cybersecurity benchmark, and qualification development support. The blueprint also references the results of the "Financial Technology Maturity Survey" and proposes a series of measures to address the main factors challenging the further development of financial technology, including the FiNETech series, a responsible innovation competition, optimization of the Fintech Connect matching platform, and practical workshops