Application:

• Application must be submitted from 31 Oct – 31 Dec 2022 and 8 Mar – 28 Apr 2023 (both dates inclusive) through the dedicated
• FSS 3.1 Pilot application portal of HKCMCL with the required documents listed on the dedicated website for the FSS 3.1 Pilot.

Project Scope:

Qualifying FSS 3.1 Pilot projects must:

1. be directly related to i) Cybersecurity, ii) Regtech (e.g. AML / biometric authentication / remote account opening / transaction monitoring / credit assessment / other examples from “Regtech Watch” or “Regtech Adoption Practice Guide”, and/or iii) Risk Management;
2. address a practical issue, or a pain point faced by the banking industry with no prior used case in the market;
3. be governed by a sponsorship agreement or letter of intent in writing between the applicant and the project sponsor; and
4. demonstrate strong potential for commercialisation.

Eligibility:

Applicant must 

1. be registered in Hong Kong under the Business Registration Ordinance (Cap. 310);
2. be conducting substantive Fintech activities in Hong Kong. Eligibility of applicants will be separately verified and assessed where necessary;
3. have participated in PoC Scheme 2021 with the PoC Scheme project successfully approved and completed; and
4. partner up a bank in Hong Kong as a project sponsor.

Funding:

• An approved FSS 3.1 Pilot project will be granted with 100% of approved subsidy up to HKD500,000, subject to fulfilling the terms and conditions set out in the Guide and Notes for Applicants (with hyperlink).
• A maximum of five FSS 3.1 Pilot projects will be approved and be entitled to the funding subsidy.