Open API Framework

Hong Kong Open API Framework

ActiveOpen BankingAsia

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.

🌍
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 implementation
2
Common baseline standards
3
TSP registration
4
Bank-TSP agreements

Implementation 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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