Search Results for "Hong Kong Monetary Authority (HKMA)"
3 results for "Hong Kong Monetary Authority (HKMA)"
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HKMA Publishes Open API Framework for Hong Kong Banking Sector
The Hong Kong Monetary Authority (HKMA) published an Open API framework for the Hong Kong banking sector, establishing a phased approach for banks to share data with third-party fintech providers. The framework aimed to foster innovation in embedded finance and fintech-bank collaboration. It represented a significant regulatory push toward open banking in the APAC region.
HKMA Finalizes Guidelines for Virtual Bank Authorization in Hong Kong
The Hong Kong Monetary Authority published its finalized guidelines for authorizing virtual banks following a public consultation. Virtual banks must meet the same criteria as conventional banks, including HK$300 million minimum paid-up capital. The HKMA rejected industry requests for phased regulatory requirements or exemptions, setting a high bar for digital-only bank entrants.
Hong Kong HKMA Issues Virtual Bank Authorization Guidelines
The Hong Kong Monetary Authority issued revised authorization guidelines for virtual banks in February 2018, establishing principles for licensing digital-only banking operations. This reflected a more open regulatory stance toward challenger banks and set the stage for virtual bank license applications in Hong Kong.