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.
  • Overview
  • 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.
  • Effectiveness
  • Comments welcome until Oct. 13, 2021 by post or email.

Regulators HKAB
Entity Types Bank; BS; CNSM
Reference CP, PR, 9/14/2021
Functions Compliance; Legal; Operations; Technology
Countries Hong Kong
Products Banking; Deposits
Regions AP
Rule Type Proposed
Rule Date 9/14/2021
Effective Date 10/13/2021
Rule Id 115859
Linked to N/A
Reg. Last Update 9/14/2021
Report Section International

Last substantive update on 09/15/2021