Key Information

inSight
Speeches
Speeches by Speaker
Norman T.L. Chan
Peter Pang
Eddie Yue
Arthur Yuen
Zeti Akhtar Aziz
Raymond Li
Edmond Lau
Esmond Lee
Meena Datwani
Vincent W.S. Lee
James Lau
Joseph Yam
Y K Choi
William Ryback
David Carse
Tony Latter
Andrew Sheng
Hans Genberg
Simon Topping
Michael Taylor
The Honourable Donald Tsang
Chen Yuan
Dai Xianglong
Don Brash
Jaime Caruana
Andrew Crockett
Mario Draghi
David Eldon
Stanley Fischer
Timothy F. Geithner
Stephen Grenville
Kenneth G. Lay
William McDonough
Ernest Patrikis
Glenn Stevens
Jean-Claude Trichet
Tarisa Watanagase
Zeti Akhtar Aziz
Carmen Chu
Press Releases
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
Press Releases by Category
Bogus Voice Message Phone Calls
Banking in Hong Kong
Fraudulent Websites, E-mails and Telephone System, and other fraud cases
Granting of Banking Licences
Exchange Fund
Table of Multiples of Notes and Payments for Allotted Amount under non-competitive tender
Table of Multiples of Notes and Payments of Application Amount under non-competitive tender
Tender of Exchange Fund Bills and Notes
Tender Results of Exchange Fund Bills and Notes
Tentative Issuance Schedule for Exchange Fund Bills and Notes
Appointments and Departures
HKMA Pay Review
HKMA Publications
Speeches
The Hong Kong Mortgage Corporation
Hong Kong Note Printing Limited
Hong Kong Institute for Monetary Research
Exchange Fund Investment Limited
Others
Hong Kong Financial Infrastructure
International Relations
Investment Products Related to Lehman Brothers
Monetary Policy
Notes and Coins
Renminbi business
Credit Card Lending Survey
Monetary Statistics
Residential Mortgage Survey
Year 2000
Others
Guidelines and Circulars
Guidelines
Circulars
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
296.881

Press Releases

HKMA launches industry consultation on Open API framework

The Hong Kong Monetary Authority (HKMA) today (11 January 2018) issued a consultation on Open API framework, setting out the HKMA’s intended approach to Open Application Programming Interfaces (API) for the banking industry in Hong Kong. The HKMA now invites relevant parties in the industry to provide comments on the consultation paper.

The formulation of the Open API framework is one of the seven initiatives announced by the HKMA in September 2017 to prepare Hong Kong to move into a New Era of Smart Banking. Open API allows better and easier system and service integration between banks and other industries such as lifestyle, health care and retail services. Effective implementation of Open API will enable, for example, information of different banks’ products and services to be aggregated under the same website/app for comparison and financial planning by users with ease while new service providers can also make use of the open information to offer unique products and new customer experience. As a result, users can conveniently stay on one system to enjoy all services offered by both the banks and other industries in a secure environment.

The proposed Open API framework set out in the consultation paper comprises a selection of Open API functions and deployment timeframe, technical standards, third-party service provider governance, facilitation measures and the maintenance models.

Mr Howard Lee, Deputy Chief Executive of the HKMA, said, “By formulating an Open API framework, we aim to facilitate the development and wider adoption of Open API by the banking sector, thereby maintaining its competitiveness and improving financial services for better consumer experience through collaboration between banks and tech firms. The HKMA will continue to work with different stakeholders to facilitate financial innovation in the banking sector.”

The full consultation paper can be downloaded from the HKMA website. All comments should be submitted in writing to the HKMA by 15 March 2018, which will be taken into account when the HKMA finalises its Open API framework.

 

Hong Kong Monetary Authority
11 January 2018

Last revision date: 11 January 2018
ABOUT THE HKMA
The HKMA
Tender Invitations
Careers@HKMA
Legislative Council Issues
Links
The HKMA Information Centre
KEY FUNCTIONS
Monetary Stability
Banking Stability
International Financial Centre
Exchange Fund
PUBLICATIONS & RESEARCH
Annual Report
Half-Yearly Monetary & Financial Stability Report
Quarterly Bulletin
HKMA Background Briefs
Reference Materials
Research
MARKET DATA & STATISTICS
CMU Bond Price Bulletin
Economic & Financial Data for Hong Kong
Monthly Statistical Bulletin
Monetary Statistics
KEY INFORMATION
Press Releases
Speeches
Guidelines & Circulars
Forthcoming Events
inSight
OTHER INFORMATION
Information in Other Languages (Bahasa Indonesia, हिन्दी, नेपाली, ਪੰਜਾਬੀ, Tagalog, ไทย, اردو)
Account Opening
Consumer Corner
Consumer Education Programme
Complaints about Banks
Complaints about SVF Licensees
Internet Banking
Fraudulent Bank Websites, Phishing E-mails and Similar Scams
Be Careful of Bogus Phone Calls and SMS Messages
Authenticate the Callers and Bank Hotline Numbers
Register of AIs & LROs
Register of Securities Staff of AIs
Register of SVF Licensees
Investment Products Related to Lehman Brothers
Photo Gallery