Central Banking

HKMA launches consultation on open API framework

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Hong Kong banking regulator consulting on new fintech development

The Hong Kong Monetary Authority has proposed a framework for open application programming interfaces (APIs), which would allow third parties to access bank systems and data to improve consumers’ experience.

In the consultation paper published on January 11, the HKMA invites comments from the industry on the approach to creating an open API framework, including the API functions, deployment timeframe and technical standards.

APIs allow different applications to talk to each other and exchange

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