01 Mar | Consultation

FTAHK response to HKMA Open API Framework consultation

Hong Kong – March 2018 -The FinTech Association of Hong Kong (“FTAHK”) welcomes the Hong Kong Monetary Authority’s (“HKMA”’s) New Era of Smart Banking initiative, including the consultation on an Open API Framework for the Hong Kong Banking Sector published in January 2018.

The HKMA plans to implement multiple initiatives to support innovation in the banking sector and embrace the opportunities brought about by the convergence of financial services and technology. This memo focuses on the proposals for an Open Application Programming Interfaces (Open APIs) Framework for the retail1 banking sector. As the HKMA has highlighted, Open APIs are an essential technology component of how modern digitally-enabled businesses operate. There are special considerations for their wide-spread adoption in the banking sector.

For Full Document: 

English - FTAHK-response-to-HKMA-Open-API-Framework-consultation-March-2018.pdf

Get the Full Report