For the repaid growth in financial technology and with the goal of developing Macao characteristic financial services in an increasing diversified industry, Macao University of Science and Technology (M.U.S.T.) has recently established the Macao Institute of Fintech Innovation (The Institute). By integrating theory with practice, The Institute aims to promote financial technology services in Macao and the Greater Bay Area with the purpose to conduct academic and applied research.
Upon its foundation in 2000, M.U.S.T established the Faculty of Information Technology, the School of Business (former name: School of Administration and Management) and the Faculty of Law and has taken a lead in major areas such as IT, financial services and management. For twenty years, resources in these areas have laid a solid groundwork for the establishment and development of The Institute. Currently, the proposed and established research institutes include Macao Center for Financial Innovation Research (collaborated with Bank of China, Macao), Macao Institute of Blockchain Application, Macao Center of FinTech Innovation and Macau Center for Legal and Financial Research. By integrating these academic and social resources, The Institute will effectively enhance our research in Fintech innovation and business application.
To facilitate research and practices in Fintech, The Institute will serve as an IAR platform for interdisciplinary research projects, international seminars, policy studies and evaluation, financial construction cooperation, internships and consulting services, etc. The Institute will focus on theory innovation and business application of Fintech and further its studies to the areas of big data, Internet technology, blockchain technology and network security technology. It also aims to enhance academic presence in related areas by publishing internationally-recognized papers. In addition, The Institute will promote the application of Fintech in Macao and the Greater Bay Area, providing prospective policy analysis and advice for a more innovative legal system for Macao characteristic finance, better risk-control and enhanced supervision.
The rapid growth in Fintech has received widespread attention from administrations and the public as it will affect the economy in the Greater Bay Area and any financial collaborations. The Outline of Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area encourages Macao SAR to take advantage of its role as a regional capital market and in the financial services, and build up a cross-regional investment system featured by technology innovation. It also encourages cooperation with other cities in launching pioneer Fintech projects and enhance their carrier construction. Fintech innovation and development will break down the system barriers across regions and cities and promote financial collaboration in the Greater Bay Area.
