Hong Kong's banking sector stands at a pivotal juncture, as technological innovation, regional integration, and sustainable finance converge to create a landscape rich with opportunities. In August 2025, the Hong Kong Monetary Authority (HKMA), together with the Hong Kong Association of Banks and the Hong Kong Institute of Bankers, released the Joint Paper on Capacity Building for Future Banking 2026–2030, outlining strategic priorities for skill development and workforce readiness in the years ahead.

The report identifies a suite of factors poised to drive expansion in the city's banking industry. Advancements in artificial intelligence (AI) and information processing, growing business volumes within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), and closer engagement with Southeast Asian (ASEAN) and Middle Eastern economies are all shaping the sector's trajectory. At the same time, sustainable finance is emerging as a key growth engine. These developments are expected to be amplified by rapid technological evolution, particularly in AI, tokenization, and high-performance computing.

The report emphasizes that a highly skilled workforce is essential for banks to seize growth opportunities and harness technological innovation. A robust talent pool underpins Hong Kong's status as a leading international financial center. Accordingly, timely reskilling and upskilling initiatives, coupled with industry-level talent attraction strategies, are critical.

Over the next five years, three core skill areas are forecasted to define the future banking workforce:

1. Technical expertise in AI, data, and cybersecurity
   Demand for technology and data skills is expected to remain strong, driven by AI's expanding role in optimizing banking operations and decision-making. Notably, the focus is shifting from traditional software development competencies, such as coding, toward designing applications that effectively leverage AI and AI-driven analytics. This evolution underscores the growing importance of data architecture, particularly as banks develop in-house AI solutions and adopt emerging technologies like quantum computing. As cloud-based and digital operations proliferate, expertise in data governance and privacy protection will become increasingly critical. Skills in model training and analysis of AI-generated outcomes are likewise gaining prominence.

2. Human–machine interaction and people-centric soft skills
   As technology becomes more embedded in daily operations, the ability to collaborate with AI-driven systems is essential. Non-technical professionals who can effectively integrate AI tools into workflows will be highly valued. The study highlights prompt engineering and human-machine collaboration as emerging soft skills for future bankers. Concurrently, customer-facing roles will continue to require human-centric skills such as creativity, cross-cultural relationship-building, adaptability, analytical thinking, and client engagement.

3. Sustainable finance risk management and emerging market banking knowledge
   While technology-driven skills grow, traditional banking expertise remains indispensable. Knowledge of commercial strategy, product specialization, and regulatory compliance is still highly relevant. The report notes a narrowing skills gap in sustainable finance products and cross-border asset management, reflecting past success in industry-wide capability-building. However, evolving regulatory requirements have created new gaps in sustainable finance risk management and understanding of emerging markets, including ASEAN and Middle Eastern economies. Many Hong Kong bankers possess frontline sustainable finance experience, yet expertise in risk quantification, assessment, and disclosure must keep pace with regulatory and business developments. Similarly, applying supply chain finance knowledge to new markets requires further enhancement.

Addressing these skill gaps requires a comprehensive, collaborative strategy. The study stresses that the rapid evolution of banking operations and interconnected job roles means that developing targeted skills in isolation is insufficient. Banks must cultivate well-rounded professionals capable of adapting to structural changes in operations, ensuring both individual and sector-wide resilience.

To support this, the report recommends the A.S.C.E.N.D. initiative:

• Advocate local professional training and certification: Promote Hong Kong-tailored programs, such as the Certified Banker Programme and training developed under the Enhanced Competency Framework (ECF), ensuring industry-wide recognition.

• Synergise reskilling and upskilling: Implement agile talent strategies combining professional training with continuous learning, including micro-learning modules linked to certification curricula, delivered online where feasible.

• Commit to a culture of lifelong learning: Encourage knowledge and experience sharing across banks to keep pace with evolving skill requirements.

• Evaluate and update competency frameworks: Regularly review the ECF to ensure relevance, incorporating insights from emerging technology applications and evolving workflows.

• Nurture and attract future talent: Develop sustainable talent pipelines and reduce attrition through industry-wide collaboration, focusing on comprehensive professional development.

• Devote to promoting sector-wide capability-building initiatives: Maximize training resources and coordinate efforts across the banking ecosystem.

For foreign financial institutions, investors, and professional services firms operating in Hong Kong, the report underscores a clear trajectory: the city is reinforcing its talent and operational base to compete globally in AI-driven, sustainable, and cross-border banking. Partnerships with local banks may increasingly hinge on shared competencies in emerging technologies and sustainable finance. Cross-border business strategies targeting the GBA, ASEAN, and Middle East will benefit from banks equipped with advanced data capabilities, AI integration skills, and nuanced risk management in sustainable finance.

By aligning with Hong Kong’s forward-looking skill development roadmap, international players can better navigate regulatory expectations, leverage technological advancements, and capitalize on regional growth opportunities.

As the HKMA and its partners articulate, the evolution of banking skills is not merely a local concern—it is a strategic signal to global stakeholders that Hong Kong is preparing a workforce capable of leading in an increasingly complex and interconnected financial ecosystem.