HKSTP and HSBC Team Up to Drive Open Banking Innovation in Hong Kongby Company Announcement July 17, 2020
HSBC will be the lead partner in the API EcoBooster (Programme) to mentor and co-create API solutions in the areas of loan services, transactions and operation, credit card, digital payments and customer records management for the commercial and retail banking industries.
In addition, the Programme will be supported by beNovelty as technology partner to provide technical clinics and arrange sandboxes with more than 100 banking APIs and mock data on its API integration platform for innovators to trial their APIs.
Albert Wong, CEO, HKSTP, said,
“HKSTP is proud to collaborate with HSBC on the API EcoBooster Programme, co-creating a trusted network of fintechs and industry practitioners. This Programme will unlock business-to-business opportunities and accelerate smart banking development into a new era, with a view to solidifying Hong Kong as a global fintech hub.
Additionally, HKSTP strives to accelerate the development of Open API through an array of value-added services. At our Data Studio, more than 400 datasets are made available from industry partners of nine categories, and over 1,300 developers have registered to co-create applications with the shared data resources. By leveraging this strategic initiative and partnerships, HKSTP will continue to facilitate exchange of data and help businesses achieve corporate innovation across different industries within the Open API ecosystem.”
Diana Cesar, Chief Executive, Hong Kong, HSBC, said,
“Open banking is playing a pivotal role in driving innovation in financial services. Our collaboration with HKSTP opens an important avenue for HSBC to encourage the development of new smart banking initiatives and industry partnerships, giving support to Hong Kong’s smart city aspirations. HSBC is at the forefront of driving digital innovation. We look forward to seeing the creation of pioneering API solutions that make banking more accessible for both individuals and businesses.”
Registration for the Programme is open to developers across the globe until 14 August 2020 where 30 proposals will be selected. The developers will demonstrate their final proposals to HSBC and the banking industry at the conclusion of the Programme in October.
Featured Image: Albert Wong (left), CEO, HKSTP; and Diana Cesar (right), Chief Executive, Hong Kong, HSBC