Research and Application

The Fintech Facilitation Office acts as an initiator of industry research in identifying potential applications and risks of fintech solutions.

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Distributed Ledger Technology (DLT)

The HKMA began the research on DLT in 2016 and has published two whitepapers to deliver the results.
Cybersecurity Fortification Initiative (CFI)

The HKMA launched the CFI in December 2016 with a view to raising the cyber resilience of Hong Kong’s banking system.
Open Application Programming Interface (API)

The HKMA published an Open API Framework in July 2018 to facilitate the development and adoption of Open API by the banking sector.
HKMA-ASTRI Innovation Hub (Hub)

The Hub was launched in November 2016 in collaboration with the Hong Kong Applied Science and Technology Research Institute to provide a neutral ground for innovative collaboration for the fintech industry. The Hub is equipped with hardware, software, and experts to enable banks, stored value facilities operators, fintech firms, and the HKMA to try out and evaluate new fintech solutions, and to conduct Proof-of-Concept trials.

Letter to all Authorised Institutions - HKMA-ASTRI Fintech Innovation Hub

Letter to all SVF Licensees - HKMA-ASTRI Fintech Innovation Hub
Central Bank Digital Currency (CBDC)

Inspired by the considerable potential that Distributed Ledger Technologies (DLT) hold, the HKMA has been researching CBDC since 2017 to understand their benefits and possible applications.
Artificial Intelligence (AI)
- The HKMA conducted a survey on AI application in Q3 2019 among the Hong Kong banking industry. The results have proved valuable for understanding the current AI landscape of retail banks in Hong Kong. The key survey results on retail banks were summarised in a fact sheet and published in November 2019.
  
  In December 2019, the HKMA published a report titled “Reshaping Banking with Artificial Intelligence” as part of a series of publications on the study of the opportunities and challenges of applying AI technology in the banking industry.
  
  Fact sheet – Artificial Intelligence (AI) in Retail Banking
  
  Reshaping Banking with Artificial Intelligence
  
  Please click this link to view the AI report trailer video.
- In November 2020, the HKMA published a report titled “Alternative Credit Scoring of Micro-, Small and Medium-sized Enterprises” to study the use of artificial intelligence in SME loan applications.
  
  Alternative Credit Scoring of Micro-, Small and Medium-sized Enterprises
Commercial Data Interchange (CDI)

CDI is a next-generation financial data infrastructure that aims to enable more efficient financial intermediation in the banking system and enhance financial inclusion in Hong Kong.

Related Information

Press Release(s)

Speech(es)

inSight Article(s)

Quarterly Bulletin Article(s)