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🌍
Jurisdiction
Hong Kong
📅
Effective Date
2019
Jan 18, 2019
✅
Full Compliance
2022
Dec 31, 2022
🏛️
Regulator
Hong Kong Monetary Authority
Overview
Four-phase Open API framework for retail banks in Hong Kong. Started with product information and progressed to account information and payment initiation APIs. Adoption is voluntary but governance framework is provided by HKMA.
Scope & Coverage
AISPIS
Key Requirements
1
Phased API implementation2
Common baseline standards3
TSP registration4
Bank-TSP agreementsImplementation Timeline
Sep 1, 2017
HKMA announced Open API Framework
Jul 18, 2018
Open API Framework regulation published
Jan 1, 2019
Phase I: Product information, deposit rates, credit card offerings
Oct 1, 2019
Phase II: Customer acquisition, new applications for products
Dec 1, 2021
Phase III: Account information, balances, transaction records
Dec 1, 2021
Phase IV: Transactions, payments and transfers
API Specifications
Technical standards and API specifications for implementing Open API Framework:
Official Documents & Resources
Key Notes
Market-driven approach. Banks can choose commercial terms for premium APIs. TPPs do not require HKMA authorization.
Official Resources
Related Regulations
Other open banking frameworks in Asia:
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