HKMA and HKSTP Launch Hackathon to Spur Innovation in Banking Data Sharing

The Hong Kong Monetary Authority (HKMA) and the Hong Kong Science and Technology Parks Corporation (HKSTP) have announced the launch of the IADS Developer Hackathon. This initiative aims to promote innovation in the banking sector by encouraging secure and customer-consented data sharing, according to the Hong Kong Monetary Authority.

Driving Innovation Through Collaboration

The IADS Developer Hackathon is set to run from October 2025 to March 2026. It is designed to bring together banking institutions and fintech companies from around the globe. Participants are tasked with developing innovative solutions that leverage the Interbank Account Data Sharing (IADS) initiative. The hackathon encourages the creation of secure and customer-consented solutions that can transform banking services in Hong Kong.

Participants will focus on developing use cases for retail, corporate, and SME customer segments. The event will provide mentorship from banking professionals to guide the development process. Finalists will have the opportunity to present their solutions at the IADS Developer Conference in March 2026. Winning teams may gain access to business expansion support, investor engagement platforms, and brand exposure through HKSTP and other partners.

Enhancing Banking Services

The IADS initiative, supported by the banking industry, establishes protocols for interbank customer-consented data sharing. This framework enables customers to securely transfer their bank account data between participating banks, enhancing digital banking operations and risk management while improving customer experiences.

Nelson Chow, Executive Director (Financial Infrastructure) of the HKMA, highlighted the hackathon as a significant opportunity for the convergence of finance and technology sectors. He expressed optimism that the event would yield novel solutions benefiting both the industry and the community.

Fostering a Hub for Fintech

Eric Or, Acting Chief Corporate Development Officer of the HKSTP, emphasized the hackathon’s role in promoting innovation and collaboration. He noted that the event aligns with HKSTP’s mission to foster an innovative environment, offering startups valuable opportunities to collaborate with the industry. This initiative reinforces Hong Kong’s position as a leading hub for financial technology and innovation.

For more information about the IADS initiative, please visit the HKMA website.

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