For decades client information related to bank accounts was kept confidential to third parties. It was hard for third parties to get this information in a trusted and verified way. This article looks at the main types of data accessible via banking APIs and their current and potential use cases.
Hong Kong's government monetary authority recently released an Open API framework. Further, the government entity announced that it will launch an Open API next week. The framework includes a four phased approach that it expects Hong Kong banks to adopt in compliance with a roadmap.