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Open Banking is coming to Hong Kong

16 May ’18
Open Banking is coming to Hong Kong

We are about to witness the creation of two pieces of regulation that provide a catalyst for much improved banking services for consumers. In the short term, its impact will arguably be larger than the much talked-about block-chain and AI revolution. We are talking about Hong Kong’s policy frameworks for digital open banking and online financial advice. Open banking (https://openbankproject.com) is a global regulatory trend. While the UK and the EU are leading the way with legislation, many South-East Asian markets are following suit. Similarly, the popularity and widespread availability of digital advisory platforms has prompted many regulators to define and clarify the rules in this new space.

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