What is it?

The Pilot Scheme on Training Subsidy for Fintech Practitioners was announced by the Financial Secretary in the 2022-23 Budget, with the objective of promoting the professional development of fintech talent and expanding the fintech talent pool in Hong Kong.
The Hong Kong Monetary Authority (HKMA) is commissioned by the Financial Services and the Treasury Bureau (FSTB) to implement the Scheme for the banking sector, with assistance from The Hong Kong Institute of Bankers (HKIB).
Supported by initial funding of about HK$38 million, the Scheme will offer training subsidies of up to 80% of the training costs to around 1,500 industry practitioners who have attained eligible fintech professional qualifications under the HKMA's Enhanced Competency Framework on Fintech (ECF-Fintech) for banking practitioners, which is the first batch of fintech professional qualifications recognised under the Government's Qualifications Framework.

Who is it for?

The Scheme targets fintech practitioners who are:

Hong Kong residents;
employees of Authorized Institutions (AIs) licensed by the HKMA; and
holders of one of six eligible ECF-Fintech professional qualifications (see the table below) after having
- completed a relevant training programme
- passed the examinations
- acquired relevant work experience

Six Eligible ECF-Fintech Professional Qualifications:

Core Level (applicable to entry/junior-level practitioners)

Professional Level (applicable to middle/senior-level practitioners)

Eligible practitioners are not required to submit the application.
The application should be submitted by the eligible practitioner's employer, which is an AI.
The AI must have fully sponsored the eligible practitioner to complete the required training and examinations, and then submit its application to the HKIB within three months after the employee concerned has attained the relevant professional qualification.
If all the application criteria are met, the AI can receive reimbursement of 80% of the training costs (i.e. the tuition fee and first-time examination fee) for each eligible professional qualification, subject to a cap of HK$25,000.

The HKIB will aim to disburse the training subsidy to the successful applicant within eight weeks from the receipt of the application, provided the application contains complete and accurate information and supporting documents.