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
Credit Underwriting
Enhance risk assessment with alternative data
Product Development
Promote innovation in financial products and services with market data
Customer Acquisition
Provide services to more customers at scale
Know Your Customer (KYC)
Verify identity and business status from different sources
Business Intelligence
Gain insights from data analytics
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
Key Features
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.
Benefitting SME Financing
This video introduces how CDI helped Hong Kong-based SME make use of alternative data to apply for bank loans.
We can serve our customers better by leveraging commercial data to streamline our processes and offer enhanced digital experiences. With improved insights into our customers’ businesses, we are better able to assess their needs and objectives, which allows us to provide tailor-made financial solutions for us to better help our customers grow.
We are pleased to be the first virtual bank participating in the HKMA’s Commercial Data Interchange initiative. Leveraging Tradelink Electronic Commerce Limited’s customer trade declaration data as an alternative data source for credit assessment, we have streamlined the loan approval process and have made the banking services more accessible for SMEs. We will continue to expand virtual banking services for more SMEs through the use of alternative data, and promote financial inclusion in Hong Kong.
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.
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 delighted to take part in the HKMA’s CDI initiative sharing our customers’ trade declaration data with banks that help them offer loan services to our SME customers who otherwise have difficulties in accessing such services. Through CDI and our partnership with Ping An OneConnect Bank (HK) Limited, we are happy to see the benefits brought to our customers and look forward to sharing more of such alternative data to help bring more values to the Hong Kong trading community as a whole.
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