Skills gap threatens Hong Kong’s banking industry

According to the latest report by the Hong Kong Institute of Bankers (HKIB), a skills gap threatens the local banking industry.

A talent development survey by HKIB found that almost two-thirds (63%) of respondents agreed that there is a serious skills gap in the city’s banking industry.

A similar proportion (64 %) of respondents said that financial technology and cybersecurity are areas with the largest skills gap.

More than half (55%) said that banks and financial institutions need to develop their own talent through professional training to address the issues.

Almost all (97%), cited the need to develop capabilities related to financial technology to reduce the gap.

Less than half (44%) of the respondents say they have undertaken relevant training courses.