HKMA Launches Interbank Account Data Sharing Initiative to Enhance Banking Innovation and Customer Experience

IADS Showroom Day

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA) announced today (October 23) the official Chinese name for the Interbank Account Data Sharing (IADS) initiative and the launch of the IADS Developer Platform, in collaboration with the Hong Kong Science and Technology Parks Corporation (HKSTP), enabling banks to securely and efficiently share bank account data with other banks, subject to customer consent.

The IADS pilot programme commenced in January this year, with a total of 28 participating banks (see Annex). The programme has established the rules and standards facilitating interbank customer-consented data sharing, covering retail, corporate and small and medium-sized enterprise (SME) customer segments. This allows banks to share customers' deposit account information (including account availability, status, balances and transaction records) with other banks, subject to customer consent. The initiative aims to encourage the industry to launch more innovative data-driven banking products and services, thereby enhancing customer experience.

To showcase the initial results of the pilot programme, the HKMA held the IADS Showroom Day today, allowing banks to share practical applications of IADS, including streamlining loan application process, consolidated financial analysis, and online identity verification. Banks will gradually launch related products to the market.

Additionally, in collaboration with the HKSTP, the HKMA announced the launch of the IADS Developer Platform, a one-stop platform that provides testing account data and simulated application programming interfaces (APIs) from participating banks, facilitating collaboration between banks and technology firms to jointly develop more data-driven products and services.

Deputy Chief Executive of the HKMA Mr Howard Lee said, "The rapid development of the digital economy underscores the importance of secure and efficient data transfer. We are pleased to see the banking sector actively supporting IADS and utilising customer-consented data to provide innovative banking products and services that bring convenience and benefits to the public, promoting the steady and healthy development of the fintech ecosystem."

For more details about the IADS initiative, please visit the HKMA's website.

IADS Showroom Day Source: HKSAR Government Press Releases

IADS Showroom Day Source: HKSAR Government Press Releases

IADS Showroom Day Source: HKSAR Government Press Releases

IADS Showroom Day Source: HKSAR Government Press Releases

IADS Showroom Day Source: HKSAR Government Press Releases

Public hospitals experience smooth operations on second day of public healthcare fees and charges reform

The following is issued on behalf of the Hospital Authority:

On the second day (January 2) of the implementation of the Hospital Authority public healthcare fees and charges reform (fees and charges reform), public hospitals maintained smooth operation. The HA will continue to deploy additional manpower across various departments at hospitals to assist patients in need.

On the first day (January 1) of the fees and charges reform, 3 888 patients attended the Accident and Emergency departments (A&E) of 18 public hospitals, a decrease of about 25 per cent when comparing to New Year's Day last year. From midnight to 2pm yesterday (January 2), 2 329 patients attended all A&E, approximately 30 per cent fewer than the same time period of January 2 of last year. Among the patients seeking medical consultation, there were 34 critical cases and 82 emergency cases. According to the new fees and charges arrangement, these two categories of patients will have their A&E charges fully exempted. The other cases subject to the new fees and charges arrangement include 986 urgent cases, 1 171 semi-urgent cases, and 56 non-urgent cases. The average waiting times for semi-urgent and non-urgent cases was around 55 minutes, which is shorter compared to the average waiting time for the same period last year (approximately 147 minutes) for semi-urgent and non-urgent cases.

Additionally, the HA's 75 Family Medicine Clinics (FMCs) providing family medicine outpatient services also operated smoothly yesterday. As of 2pm yesterday, approximately 10 000 patients attended these FMCs, with overall service usage remaining similar to that before the implementation of the measures.

The HA has deployed additional manpower to expedite the processing of patients' medical fee waivers applications. As of 2pm yesterday, public hospitals received approximately 3 300 applications in total for the day, with nearly 90per cent approved, amounting to about 2 900 applications. The remaining cases will be processed as soon as possible. Compared to the 14 000 individuals who were approved for medical fee waivers in 2023/24, the HA has approved approximately 35 000 applications since early November last year, benefiting citizens in need.

Furthermore, patients who had previously scheduled non-urgent radiology services or pathology services will be receiving payment notifications through mail or the HA mobile application HA Go starting from January 1. The HA reminds patients with recent appointments can arrange payment as early as practicable upon receiving the notification. For patients with distant appointment dates, payment can be arranged at their convenience after receiving the notification. Patients are not required to settle the payment immediately. Patients undergoing non-urgent radiology services must settle the payment at least 14 days before their appointment date, while patients requiring pathology services must settle the payment before testing. If patients have questions regarding payment items, they can inquire with healthcare staff during follow-up appointment, and specialist out-patient clinics will also have Integrated Patient Service Centres to provide detailed explanations about payment arrangements.

The HA reminds patients that the fees and charges reform has been implemented. Patients are advised to familiarise themselves with the new fees and charges arrangements before visiting public hospitals or outpatient clinics. Some medical service procedures have also been modified. Every cluster has set up hotlines (see table below) for patients to inquire about the fees and charges reform arrangements. Patients can also visit the HA website to learn about the new arrangements.

Hotlines for Public Healthcare Fees and Charges Reform

Clusters

Hotlines

Hong Kong East Cluster

6460 4303

Hong Kong West Cluster

2255 4177

Kowloon Central Cluster

3506 7198

Kowloon East Cluster

5215 7326

Kowloon West Cluster

3467 7575

New Territories East Cluster

6273 3551

New Territories West Cluster

2468 5353

Service hours: January 2-11, 2026, 8am to 8pm

Source: AI-found images