Thomson Reuters (NYSE:TRI) announced that it is partnering with the Hong Kong Applied Science and Technology Research Institute (ASTRI) to help accelerate the development of FinTech innovation by bringing technology, tools and content to the Innovation Hub launched jointly by ASTRI and the Hong Kong Monetary Authority (HKMA).
ASTRI was established in 2000 by the Hong Kong government to enhance Hong Kong’s global competitiveness in technology-based industries through applied research. The HKMA-ASTRI Innovation Hub was launched last year to facilitate the development and adoption of FinTech by the financial services industry. Thomson Reuters will support innovative solutions being developed there by providing access to Eikon and Thomson Reuters Open Platform, its flagship products for financial markets professionals. Hub users will be able to power the applications they develop with industry-leading content, news and alternate data sets via Thomson Reuters Open APIs.
The new partnership comes as FinTech development in Hong Kong and across Asia continues to accelerate, with advances in data science, analytics tools and new content all being employed to improve customer experience. Strengthening the FinTech ecosystem is a key priority in Hong Kong’s efforts to boost its overall competitiveness through innovation and technology and to enhance its status as a leading global financial hub. Partnerships like this between Thomson Reuters and ASTRI are crucial to achieving such a goal.
Sanjeev Chatrath, Managing Director, Region Head – Asia, Financial & Risk at Thomson Reuters, explained:
Our new partnership with ASTRI demonstrates the strong commitment Thomson Reuters has to Hong Kong and the wider financial community, especially as Asia continues to invest in creating a dynamic FinTech industry. By sharing Thomson Reuters Eikon and Open Platform with ASTRI, we’re leveraging our important role in nurturing the region’s financial ecosystem and help firms create value to serve customers better.
Commenting on this partnership, Dr MeiKei Ieong, Chief Technology Officer at ASTRI, said:
ASTRI works alongside the industry to drive cutting edge FinTech R&D. ASTRI acknowledges the importance of data in developing disruptive yet market relevant FinTech applications and so we’d like to thank Thomson Reuters for generously granting Eikon and API access to the users of the HKMA-ASTRI Fintech Innovation Hub. The ability to use the latest market data, statistics and insights from Thomson Reuters will surely benefit Hong Kong’s banking sector, and complement the HKMA-ASTRI FinTech Innovation Hub’s strategic goals.