This article, published in Computer Law & Security Review, takes a look at the Hong Kong Monetary Authority (HKMA)’s Open Application Programming Interface Framework for the Banking Sector (Open API Framework), which was issued on 18 July 2018, with the aim to encourage the development of innovative technology solutions and the amalgamation of information by third party service providers (TSPs) for the benefit of consumers. Open API Framework can help to ensure the competitiveness of the banking sector in Hong Kong, and keep up with worldwide development on the delivery of banking services. The formulation of the Open API framework is one of the seven initiatives announced by the HKMA in September 2017 to prepare Hong Kong to move into a New Era of Smart Banking.
