3 Tips to Break Into Banking

I recently had the privilege of meeting Mr. Chan Kay Cheung, the former Deputy Chief Executive of the Bank of East Asia, who shared invaluable advice for aspiring candidates looking to break into the world of finance. With over four decades of experience, Mr. Chan has seen the industry evolve from traditional banking practices to today’s digital-first approach.

In this post, I’m sharing three key takeaways from our conversation that can help you stand out and succeed in the competitive world of banking.

Is a finance degree really necessary to succeed in the world of banking?

A finance degree is not a prerequisite for success in banking. He emphasized the value of diverse educational backgrounds, particularly in the sciences and in data, as these fields provide strong analytical and statistical skills that are highly sought after in the industry.

Additionally, he highlighted the importance of interpersonal and social skills, which are critical for navigating client relationships and team dynamics. His advice is clear: don’t let your degree define your potential—focus on the skills you bring to the table.

What makes a candidate stand out in today’s competitive banking industry?

"It's not about fitting into a traditional mold - it's about leveraging your unique strengths to redefine the industry and leave a lasting impact!"

Standing out in banking goes beyond having a finance degree. Mr. Chan highlights the value of diverse backgrounds, particularly in science and data, for their analytical skills. Equally important are interpersonal and communication abilities, as banking is deeply relationship-driven.

How Has Banking Evolved, and What Does It Mean for Tomorrow’s Professionals?

“Banking will endure, and finance will remain a cornerstone for the long run. There is hope!”

Mr. Chan reflected on his journey from traditional, manual banking processes to embracing a digital-first approach that aligns with the demands of an increasingly interconnected and technology-driven world. This evolution brings a clear message: adaptability and innovation are key. While core skills like financial analysis and risk management remain fundamental, professionals must also embrace emerging technologies such as artificial intelligence, data analytics, and digital platforms.