Unleash the Power of Data
through Commercial Data Interchange (CDI)
Next-Generation Financial Data Infrastructure
CDI aims to enable more efficient financial intermediation in the banking system and enhance financial inclusion in Hong Kong.
Instead of multiple one-to-one connections, each bank and data provider will have a single connection to CDI. Data sharing has never been easier.
Potential use cases
Know Your Customer (KYC)
Potential use cases
Enhance risk assessment with alternative data
Promote innovation in financial products and services with market data
Provide services to more customers at scale
Verify identity and business activities from different sources
Gain insights from data analytics
Commercial data will be shared only after data owners (e.g. small and medium-sized enterprises (SMEs)) have given their explicit consent to banks and data providers.
API and data models defined in CDI empower a more efficient data sharing mechanism and flexible use cases among CDI participants.
The design of CDI can accommodate high level of independency among CDI participants, fostering innovation in financial products and services with the use of alternative data.
The blockchain design of CDI means audit records are immutable, traceable and verifiable, ensuring a proper audit trail. Nevertheless, CDI does not store any commercial data to uphold the principle of data protection and increase system efficiency.
Only authorised entities (i.e. CDI participants) can connect with CDI and perform data exchange. All participants are identifiable and trusted.
(From production launch to Sep 2023)
Benefitting SME Financing
This is one of the videos showcasing how Hong Kong-based SMEs can make use of alternative data via CDI and apply for bank loans. To see the rest of the videos, please visit the SME Stories page.
QFPay HK has been dedicated to providing fast and secure payment services to our merchants as well as developing different business solutions to support our merchants to grow in this fast-changing market. We are proud to participate in the CDI project by HKMA and be one of the pioneers of business data providers. Through the collaboration with financial institutions and development of related platforms, our clients will experience commercial financing in a more intelligent and efficient way.
CDI enables an easy access to real time and reliable commercial data with customers’ credit portfolio. This ground breaking financial data infrastructure effectively accelerates our loan approval process to facilitate SMEs in obtaining finance.
We are pleased that HKMA is launching CDI as a data infrastructure in the Fintech 2025 strategy. This is important to us as it streamlines the process of collecting our clients’ data in a secured and prompt manner, offers more comprehensive view of their business performance, and helps us develop more used cases by leveraging the SME’s alternative data generated during business operations. CDI can also help us provide better customer experience, drive for more product innovation and financial inclusion for the SME community.
Dun & Bradstreet Hong Kong is fully committed to its ongoing collaboration with the CDI to support further acceleration and upscaling of credit risk assessment processes, which will be benefit financers in Hong Kong’s SME lending market.
As the first batch of CDI participants, GS1 Hong Kong fully commits to support the next generation digital finance services through the offering of trusted digital trade data from our ezTRADE, a long-serving B2B order-to-cash platform.
By connecting our platform to the CDI, we hope to make trade financing easier and faster for our ezTRADE suppliers community. We look forward to working with more banks and other stakeholders in the ecosystem, empowering more innovative services to the SMEs.