The COVID-19 pandemic has disrupted finance, business, and our day-to-day activities. From touchless delivery of groceries and essentials to contactless transactions and communication, the ongoing health crisis is accelerating our transition to the digital world with the widespread adoption of digital solutions, compressing changes that typically take years into just a few months.

The year 2020 saw profound changes in the business landscape as innovations materialized, especially in banking and finance. With customer demand shifting from necessity to convenience and service personalization, these changes continue in 2021 with, among others, further digitalization of money management; rise of virtual banks; more frequent access to online platforms, especially by the mobile-first generation; and wider use of artificial intelligence (AI) and machine learning tools for fraud detection and process optimization.

This issue of FB Magazine looks at financial technology (FinTech), its application in commercial and personal finance, and its expanding horizons.

Given the need to keep senior executives and corporate leaders up to date with the latest developments in FinTech adoption and digital innovation, the Faculty of Business launched a pioneering doctorate, the Doctor of FinTech (DFinTech) programme, in 2019.

As digital transformation continues, individuals and organizations are not only looking for autonomy, efficiency, alternatives to existing systems, and protection of personal data but also social responsibility and sustainability. With regard to sustainability technology (SustainTech), Mr Lapman Lee, Professor of Practice, explains how technology can be leveraged to promote digital trust in environmental, social, and governance (ESG) investments, and how we can support enterprises’ ESG efforts, thereby contributing to the achievement of the United Nations Sustainable Development Goals (UN SDGs).

As virtual currencies are gaining legitimacy, popularity, and acceptance among institutional investors and monetary authorities, Dr Jimmy Jin, a faculty member, introduces us to cryptocurrencies; the cryptocurrency market; and the trading platforms, methods, and strategies.

Going forward, we expect business and finance, the economy, and the entire world to become increasingly digital. While keeping up to date with the latest technologies, we should explore how they can be deployed to enhance financial inclusion and heal societal division. Meanwhile, we should beware of thepotential risks and continue to innovate for a cleaner, safer, and better world for all.

Happy reading, stay healthy, and keep in touch.