HKMA Officially Launches Its Commercial Data Interchange

HKMA Officially Launches Its Commercial Data Interchange

by October 25, 2022

The Hong Kong Monetary Authority (HKMA) has officially launched its Commercial Data Interchange (CDI), one of the key initiatives under its Fintech 2025 strategy.

As a consent-based financial data infrastructure, CDI aims to enhance data sharing by facilitating financial institutions to retrieve enterprises’ commercial data, in particular the data of small and medium-sized enterprises (SMEs), from both public and private data providers.

With the launch of CDI, financial institutions would be able to streamline a wide range of financial processes, such as Know-Your-Customer (KYC), credit assessment, loan approval and risk management.

CDI has registered over HK$1.6 billion in approved SME loans, seeing the participation of 23 banks with material SME business and 10 data providers in CDI during the pilot launch.

Among the banks involved are Ant Bank (Hong Kong), Bank of China (Hong Kong), Citibank, Dah Sing Bank, DBS Bank (Hong Kong), ZA Bank, Standard Chartered Bank (Hong Kong), and more.

In particular, six key data providers with substantial SME data have joined CDI at its official launch, and will start to provide consented access for banks in the CDI production environment.

In this phase, the commercial data involved will include e-trade declaration, e-commerce, supply chain, payment and credit reference data.

To ensure that all CDI participants follow a common set of rules for proper, fair and secure exchange of commercial data, the HKMA also launched the CDI Framework detailing the governance model and structure.

HKMA has encouraged SMEs to contact the participating banks to learn more about the new CDI-related financial services offered by the banks.

Going forward, the HKMA said that it will continue to broaden the spectrum of data available via CDI, including data from government departments and analytics service providers, with a view to exploring new business use cases leveraging CDI.

Howard Lee

Howard Lee

Howard Lee, Deputy Chief Executive of the HKMA said,

“With tremendous support from banks and data providers across various sectors, we are delighted to see CDI evolving from an idea to a pilot, and eventually a production-ready infrastructure throughout this two-year journey.


We believe CDI will become a key enabler for multilateral data sharing among banks and data providers, catalysing financial innovations.”