HK Open Banking SDK
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What are Open APIs?
Over recent years, Open APIs have been applied by companies in different industry sectors to expand their core businesses and develop ecosystems that enable relevant, interconnected and intelligent customer experiences. For example, travel agency websites have leveraged Open APIs to access data from hotels and airlines in order to provide real-time booking and ticketing services.
The Four-Phased Approach of the Open API Framework in Hong Kong
I. Product and service information
“Read-only” information offered by banks, providing details of their products and services.
II. Subscriptions and new applications for products/services
Customer acquisition processes, such as online submissions/applications for credit cards, loans, or other bank products.
III. Account information
Retrieval and alteration (where applicable) of the account information of authenticated customers, e.g. account balances, transactions (balances, transaction history, etc.), for stand-alone or aggregated viewing.
IV. Transactions
Banking transactions and payments or scheduled payments/transfers initiated by authenticated customers.
* Extracted from “The Next Phase of the Banking Open API Journey” by HKMA, 2021
beNovelty Open Banking API & SDK
beNovelty has successfully helped different enterprises connecting with banks and API platforms. We are now open for Pilot Programme Recruitment. Find out how beNovelty Open Banking API & SDK works and join us today!
