HKAB Banking Open API Standards
On Sep. 14, HKAB consulted on phase III banking open API standards.
- HKAB issued public consultation on Phase III of Banking Open API Standards.
- The term Banking Open API refers to Application Programing Interface (API) allowing third-party access to the systems of banks and execution of instructions.
- Document outlines the API design and development standards for banks and TSPs to enable secure access to account information data using Phase III Banking Open API.
- Seeks views on draft Phase III Banking Open API Standards (standards) to promote secure, efficient implementation of said API functions as announced on May 18, 2021.
- Initial Phase III implementation covers Banking Open APIs enabling read-only access to selected deposit account information, including account availability, account status.
- Also account balance and transaction details for retail and business customers.
- The standards aim to serve as facilitation tool to support the technical implementation of Phase III APIs covering areas of customer authentication, user experience, data.
- As well as technical, information security and operational standards; contents of the standards are based upon existing international and industry practices.
- Comments welcome until Oct. 13, 2021 by post or email.
||Bank; BS; CNSM
||CP, PR, 9/14/2021
||Compliance; Legal; Operations; Technology
|Reg. Last Update
Last substantive update on 09/15/2021