Octopus Holdings Ltd delegation visits ASTRI to explore innovative FinTech and Smart City solutions

Led by Mr Sunny Cheung – Chief Executive Officer, a delegation of Octopus Holdings Ltd visited ASTRI on 9 July 2018 to understand the Institute’s latest R&D endeavours in Big Data Analytics, Blockchain, Customer Onboarding and Identity Management, Cybersecurity, Artificial Intelligence (AI), and Authentication Systems. Mr Hugh Chow – Chief Executive Officer of ASTRI, accompanied by Dr MeiKei Ieong – Chief Technology Officer and the team, welcomed the delegation to ASTRI’s premises and discussed potential collaborations between the two organisations. The Octopus delegation also included Mr Sammy Kam – Technical Director, Ms Rita Li – Sales and Marketing Director, Mr Francis Cheung – Finance Director and other management staff.

Octopus is a pioneer in electronic payment systems, having introduced its namesake – one of the first and most famous contactless stored value smart cards in the world. The company has since pursued many innovative and dynamic solutions leveraging the power of information and communication technologies. ASTRI has one of the strongest FinTech R&D teams in this region. ASTRI’s FinTech solutions – ranging from cybersecurity to Blockchain and Identity Management solutions, authentication systems to machine learning and data analytics – cater to the wider financial services industry in Hong Kong.

During the visit, the Octopus team learnt about ASTRI’s FinTech R&D projects including cybersecurity intelligence and fortification initiatives, various authentication methods including token-based and biometric systems, big data analytics, as well as the AI-based handwritten Chinese character recognition system. An in-depth discussion between the Octopus delegation and ASTRI’s R&D experts touched upon various issues including electronic payments, customer onboarding and digital identity management processes. The complex range of technologies related to these – such as data privacy and security, obtaining, protecting and sharing customer information, and management of customer loyalty – were discussed.

Mr Hugh Chow, ASTRI’s Chief Executive Officer, acknowledged that “Data, customers and finance are all tied together by technology – that’s how we live our lives and run our businesses in this age. Octopus is an internationally respected organisation credited with some of the earliest technological innovations in payment systems. With our strong and market-relevant expertise in FinTech and Smart City solutions, ASTRI will be delighted to partner with Octopus and bring about fantastic innovations for Hong Kong and beyond.”

Thanking the ASTRI team for the “great hospitality and a very informative and enjoyable afternoon”, Mr Sunny Cheung – Chief Executive Officer of Octopus hoped for further collaboration and partnership between the two organisations.