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HKMA initiative to foster innovation in Interbank Account Data Sharing

HSBC branch in Hong Kong
The initiative is aimed at streamlining data sharing among different banks. Photo: S3studio/Getty Images

Hameed Shuja

2 min read
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The arrangement gives customers control over their data, enabling them to decide which banks can see their accounts and transactions.

The Hong Kong Monetary Authority (HKMA) has launched a new initiative to bring together experts from the banking industry and fintech sector to work together on Interbank Account Data Sharing (IADS) innovations.

Launched in collaboration with the Hong Kong Science and Technology Parks Corporation (HKSTP), the IADS Developer Hackathon will

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