HKSTP and Hang Seng Bank Name Two Winners of “Living Lab for the Bank of the Future” 

Artificial intelligence (AI) is  reshaping operational models and customer experiences across the financial services sector. Against this backdrop, the Hong Kong Science and Technology Parks Corporation (HKSTP) and Hang Seng Bank have joined forces to launch the “Living Lab for the Bank of the Future” programme. Following a rigorous evaluation by the bank’s business and technology leaders, Hong Kong Xiangtai Ruifeng Technology Limited and Pantheon Lab Limited emerged as the winning teams. Designed to bridge the gap between innovative technologies and practical business needs, the initiative accelerates digital transformation within the industry and reinforces Hong Kong’s position as a premier international financial and innovation hub.

Facilitating ecosystem collaboration for real-world impact

From the perspective of the ecosystem orchestrator, HKSTP plays a crucial strategic role in bridging traditional financial institutions with agile tech ventures. AI is rapidly redefining the financial services landscape, and HKSTP is dedicated to driving the industrial application of innovation and technology (I&T) achievements. By leveraging its extensive talent network and rigorous selection criteria, the corporation identifies tech ventures from its ecosystem that can address the specific operational pain points of the bank.

During the recruitment and evaluation stages, HKSTP looks beyond mere technical novelty, placing high value on practical application, feasibility, and future scalability. Addressing the operational gaps between corporates and startups — where traditional institutions prioritise risk management, compliance, and information security while startups focus on agility — requires an effective communication bridge. As Eric Or, Chief Ecosystem Development Officer of HKSTP said: “HKSTP acts as a bridge for communication, helping enterprises gain a deeper understanding of business requirements and operational environments while fostering continuous collaboration to enhance the success rate of technical implementation.”

Scaling innovation through structured pathways and strategic goals

For Hang Seng Bank, through the collaboration with HKSTP, it is bringing innovation closer to real banking needs by testing solutions against practical scenarios and accelerating the path from prototype to scalable deployment, while keeping human judgement, decision-making and accountability at the core. “AI is reshaping how customers and businesses expect to be served—faster, more personalised, and more secure.” Forrest Chai, Chief Information Officer of HASE and HK said.
 
The “Living Lab for the Bank of the Future” specifically targets two high-frequency, high-impact front-line touchpoints: AI Validation Agents for retail banking, which ensure response accuracy, consistency, and strict regulatory compliance under generative AI frameworks, and Intelligent Voice Customer Service for commercial banking, which enhances immediacy and comprehension for complex inquiries. Through these deployments, the bank aims to make innovation an everyday reality, delivering a simpler, more reliable experience for both clients and staff.

Transforming technical prowess into commercial success in regulated markets

Pantheon Lab, one of the winning start-ups, sees the Living Lab programme as a critical milestone in entering the highly threshold  financial sector. Moving beyond retail and catering applications, the company’s participation has subjected its Agentic AI and voice technologies to rigorous real-world stress tests. The feedback provided by financial experts regarding risk management, security auditing, and system robustness has deeply influenced the team’s product architecture and guardrail design.

The collaboration not only validates the commercial viability of local tech ventures but also establishes a scalable blueprint for regional expansion. Summing up the transformative value of the journey, Ivan Lau, Co-Founder and CEO of Pantheon Lab said: “The biggest takeaway has been the shift in our perspective from looking at things as a ‘tech company’ to thinking from the ‘bank’s operational reality’, ensuring our AI solutions are trustworthy, controllable, and auditable.”

Looking forward, Pantheon Lab aims to expand its deployment into advanced commercial banking domains such as wealth management consultations and internal workflow automation.