What is Open API?
Open API is a secure and fast computer information exchange approach. Which enables to execution of instructions between different computer systems. The implementation of the Open Application Programming Interface (Open API) in Hong Kong, led by the Hong Kong Monetary Authority (HKMA), is supervised by the (HKMA). Banks through open APIs open up their internal systems and information to authorized third-party service providers to aggregate information and provide unique products and brand-new user experiences.
What is Interbank Account Data Sharing (IADS) initiative?
"Interbank Account Data Sharing" (IADS) is a measure launched by the Hong Kong Monetary Authority (HKMA) under its Open Application Programming Interface (Open API) framework. The initiative aims to allow customers to securely and efficiently share their bank account information with other banks subject to customer consent.
With corporate customer (user) authorization, you to share your bank account data with your selected banks securely and efficiently. CMB Wing Lung Bank provides the service of sharing authorized corporate customer bank account information with our partner banks through IADS (Provider). In the meantime, CMB Wing Lung Bank also provides corporate customers (users) with read accessing other bank account data (Consumer) and consolidates the information in our U-BANK@CMBWLB.
For more information, please contact our relationship managers.