【Issue124】Frank Chow

Alumnus Frank Chow, Chairman of Forms Syntron (95/SC/Government and Public Administration), has been working diligently in the fintech industry for 30 years. He considers himself fortunate to be born in this era. He said, “I am so lucky to witness the rapid technological advancement that occurs only once every few centuries in human history, and to experience something new every day.” Though his major is Government and Public Administration (GPA), he turns out to devote himself to the fintech industry. He encourages young people not to limit their career paths from their academic background. “What you study is not inevitably related to what industry you engage in. The previous generation might have been well-versed in a particular industry and benefited from it for life; but this approach is no longer viable nowadays. One should stay curious, and continuously engage with and learn new technologies to keep up with the times. Fear will only make you fall behind.”

Born into a grassroots family and raised in Kwun Tong, Frank frankly admits that studying at CUHK has changed his life. “Since I was interested in politics and macro-social development, I chose GPA as my major. Perhaps I was extrovert, I considered ‘starting business’ as the mission of my life since my childhood, and entrepreneurship has been the goal of my life planning. I made the most of my time to make friends while at CUHK. I stayed in the hostel for four years, and I found my life in the hostel lively and fulfilling every night. We would sit around and chit chat, and I met many encounters, greatly broadening my knowledge and horizons. CUHK changed my life.”

After graduation, he embarked on a commercial venture. He believes that what he learned at CUHK was not in vain and yet very useful. “Politics, economics, and culture are closely related. Taking into consideration the current global trend, one can better understand that running business is inevitably affected by the political environment. Studying politics is conducive to thoroughly understanding the current situation, enabling one to make more forward-looking business judgments.”

Morning Jogging Invigorates Ambition

Speaking of the young years at CUHK, one identity that Frank is still very proud of is: “I joined the CUHK football team in Year 1 and served as captain for three consecutive years from Year 2 till graduation, during which time we won the University Sports Federation Soccer Championship twice. Even today, the team members still keep a strong bond of friendship, and we reunite at least once a year despite busy schedules. We even planned to play amateur matches together before the pandemic. Frankly speaking, friends meeting at university are actually lifelong friends, and we cherish this friendship.”

His experience with the football team not only fostered friendships but also honed his leadership skills, and taught him how to unite a team around a shared ambition. “I remember that in Year 1, the football team was in a state of disunity and disarray, so I came up with the idea of gathering the teammates at five or six in the morning to jog along Tolo Harbour and then had breakfast in Tai Po before going back to the university for classes. It gradually united the team. However, the most effective way to bring the team together was the 7-day match in Taiwan in Year 3, where the whole team played against football teams from National Taiwan University, National Taiwan Normal University, and National Cheng Kung University. This match fostered a strong bond among the team members.” Originally, it would have been almost impossible for students to join the overseas match at their own expense, but at the time, Frank had leveraged his business acumen to successfully secure sponsorship from a sports equipment company. “Eventually, each player only needed to pay two or three thousand dollars. It was worthwhile to organise this trip as the brotherhood among the team members was naturally established, enabling the team to play on the same page and achieve more outstanding results ever after.”

Venturing into Shenzhen Paves the Way for a Career in Fintech

After graduation, he joined an electronics company, where he was responsible for Business-to-Business (B2B) work. “At the time, I started to get involved in banking technology, which was my enlightenment in fintech. I think choosing the right direction is crucial. As the saying goes, ‘Choosing the wrong career is a man’s worst nightmare.’ Career choice has a profound impact on one’s life. During my studies, I foresaw that technology would change the future of human life, so I decided to devote myself to this industry.”

In addition to choosing the right industry, he also made the right choice to the place of development. “After working for two or three years, I found a job vacancy in the Shenzhen branch, so I took the lead to ask for reassignment. Back then, few Hong Kong people chose to go to Shenzhen to develop their careers; some even believed that they only relocated to Shenzhen because they were having trouble developing their careers in Hong Kong. But I held an opposing view as I was optimistic about the opportunities brought from the reform and opening up in China. When I first entered the market in the mainland, I found that its scale was enormous, vastly different from Hong Kong. I learned a lot while working in the mainland, especially the significance of having a broader perspective. I was also lucky to engage in a plethora of innovative fintech projects in the mainland, enabling me to accumulate extensive experience. I firmly believe that the choice of industry and work location are crucial in determining future opportunities for advancement.”

A Dream of Owning a Listed Company

After accumulating substantial experience while working in Shenzhen, Frank and several ex-colleagues started their own business together in 2003. “The company was named ‘Forms Syntron’, with its Chinese name symbolizing the gathering elites from around the world to start a business. I value teamwork and distribute some company shares to employees, so nearly 400 colleagues have been serving the company for more than 10 years. My management philosophy is very simple, which is originated from traditional Chinese wisdom. Colloquially speaking, ‘Do your work to a standard that is acceptable to others and up to your own standards of quality and integrity.’ I always try to think from the other party’s perspective for whatever we do to achieve a win-win situation. Whether the other party is a client or a colleague, I try to put myself in his position. This has always been my attitude towards dealing with matters.”

Frank aspired to own a listed company from a young age and set listing in Hong Kong as his goal. “However, after returning to work in Chinese Mainland, this idea changed somewhat. The burst of dotcom bubble in Hong Kong in 2000 led to a significant drop in the number of people choosing to study computer science, resulting in a shortage of local talent. So I then shifted my focus to listing in Chinese Mainland to attract more talent so as to expand the company’s scale. To date, there are more than 2,000 software engineers from all over China in my company.”

The company was listed on the SZSE ChiNext market in 2015, which was of great help to its development. “Before the listing, we primarily served the banks in the Chinese Mainland; after the listing, I found that there was also significant demand in the Hong Kong market. After all, as a Hong Konger, I hoped to increase investment in the Hong Kong market. Hong Kong, as an international financial centre, has a more diversified business portfolio, while the banks in the Chinese Mainland are much larger than those in Hong Kong in terms of scale, so both places can learn from each other.” In addition, what prompted his return to Hong Kong was his CUHK junior, Alex Chan (96/SC/Government and Public Administration). “I knew him when we lived in the university hostel. After graduation, he was in charge of banking operations at IBM for 20 years. I shared my development plan with him and invited him to join me to help the operations in Hong Kong and overseas. After he joined the company, our investment in the Hong Kong market was significantly increased, alongside the development of Web 2.0 and Web 3.0 technologies, including blockchain and artificial intelligence. Strong collaborations with regulatory agencies have also escalated the company to another level.”

Financial Lessons to be Remembered

The journey from entrepreneurship to listing seemed to be running smoothly, but Frank said he also had profound lessons. “Most of our clients were banks. The banks, as an essential pillar of business activities, have a robust business foundation. Since the incorporation for more than 20 years, no client has ever defaulted, enabling us to focus on technological research and development. Fortunately, we made a profit in the first year of our business, but at the time, the cash turnover was not fast enough, and we once faced a cash flow shortfall and were unable to pay salaries on time. At the time, my wife and I discussed using funds from our personal account to pay our colleagues’ salaries. Frankly speaking, I felt uneasy at the time. From then on, I made up my mind to avoid reoccurrence of the same situation. Later, I insisted that the company must maintain operating cash flow for at least six months, which helped us overcome a number of difficulties subsequently.”

Frank said that during the 2008 financial crisis, the employee turnover rate was less than 5%. Knowing that the company weather the storm with its employees in a slump, clients expressed appreciation to their pragmatic attitude and cast their votes of trust. “Subsequently, the company developed smoothly. After a successful IPO, it has grown with a market capitalisation of over HK$10 billion, which is truly remarkable for a software company. Given the company’s robust financial structure, even it purchased land in Shenzhen to build our 20-storey headquarters, it had never borrowed any loans from banks or used it as collateral for financing. My philosophy is ‘being prepared is half the battle’. Other companies are hesitant to invest in new technologies, perhaps they are short of sufficient financial support. I tend to be conservative financially, but extremely aggressive in technology investment. For instance, as early as 2016, when the public hadn’t yet paid attention to blockchain technology, we took the lead to invest in research, giving us a significant advantage over other companies, and allowing us to move faster.

Banks are rigorously developing fintech, but why don’t they hire their own technical teams but instead rely on Forms Syntron? Frank explained, “The banks and we are mutually complementary. Banks definitely have their own talent to handle daily operations, business management, and regulatory requirements; while we, by continuously serving different clients around the world, can grasp global trends of technological revamp earlier and even invest resources in advance for talent training and technical reserves. Adaptability is precisely the advantage of private enterprises. Banks should always focus on their core business, after all, they are not technology companies in essence. We proactively introduce the latest technologies to them, shortening their learning curve, which actually complements each other.”

Hong Kong is an Excellent Global Sandbox

Frank feels optimistic about the future development of fintech industry in Hong Kong. “I often tell others that Hong Kong is an excellent global sandbox, which is irreplaceable by other places. Hong Kong’s financial industry plays a pivotal role internationally. Strengthening fintech development can not only highlight Hong Kong’s core values but also support national development.” He added that in the latest global rankings released in September 2025, Hong Kong was ranked number one in fintech category. At the Hong Kong FinTech Week held in early November, a number of senior executives from international banks also recognised Hong Kong’s pioneering position in fintech industry. “It is all up to the efforts that the government and regulatory agencies have made. For instance, the Stablecoins policy promulgated by the HKSAR Government has already become influential internationally, and Hong Kong has transformed its role from ‘bringing in’ in bygone times to ‘going global’. As long as the HKSAR Government takes the initiative to do something more, enhance and provide more application scenarios for implementation, Hong Kong’s unique advantages will be more fully demonstrated.”

Being passionate about fintech innovation, Frank also holds a strong sense of mission in nurturing the younger generation. “Nowadays, young people are prone to feeling lost and overwhelmed by challenges. I hope to interact more with them and share my experiences.” Invited by Chan Tsz-tat (94/SC/Government and Public Administration), CUHK senior alumnus and Commissioner of Customs and Excise, he joined the “Customs YES Programme” (“Youth Development Programme of Customs and Excise Department”) and later became a star mentor of Strive and Rise Programme. “I want to give a message to young people: don’t lose your ambition. When you think you can’t do anything, there is no way to do it, but if you are willing to work hard and spend time, you will definitely be able to do it.”

Encourage Students from Grassroots Families with His Own Experiences

Frank grew up without father’s support, and he relied entirely on his own initiative to seize opportunities. “I really want to pass this belief on to the next generation and encourage them to believe in themselves. Many people in society, including schools and the government, render assistance and offer opportunities. As long as you take the initiative to seize opportunities, you will definitely be able to carve out a niche.” In addition to sharing his experience, he also led young people to Shenzhen to visit the headquarters of Forms Syntron in Yuehai Street, Nanshan District. “They came to Yuehai Street, known as the ‘Silicon Valley of Asia’, and saw the headquarters of tech giants such as Huawei, ZTE, DJI, and Tencent in person. They found that what they saw was totally different from what they had imagined. Young people are willing to take the first step to learn and understand, which is indeed a step forward.”

He encouraged his juniors to give serious thought to pursue a career in the fintech industry. “They have been using digital products since childhood, and they will somehow understand science and technology no matter which subjects they take, which is an advantage. However, if you want to pursue a career in the fintech industry, you should not only build a strong academic foundation but also take the lead and proactively learn the latest industry knowledge. After all, the world is changing so fast that the knowledge learned from books may lag behind. Moreover, it is the best to start gaining in-depth understanding of the industry that interests you in Year 2 or Year 3 and proactively explore future directions. There is a constant shortage of fintech talents in Hong Kong, and the development potential of fintech industry is enormous. So it is worth preparing early to seize the opportunity to get into this industry.”

Published on CU Alumni Magazine Issue 124 by Alumni Affairs Office 2025

Read online: CU Alumni Magazine Issue 124 (Chinese Version Only)
PDF: http://www.alumni.cuhk.edu.hk/magazine/202512/pdf/CUAM_202512.pdf
ISSUU: http://www.alumni.cuhk.edu.hk/magazine/issuu/