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Hong Kong Monetary Authority 香港金融管理局
商業數據通 Commercial Data Interchange
Hong Kong Monetary Authority 香港金融管理局
商業數據通 Commercial Data Interchange
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About CDI

A coherent landscape for data sharing

CDI aims to enable more efficient financial intermediation in the banking system, and facilitating innovative usage of commercial data to enhance financial services.

Value Propositions

Integration
Integration

Connect entities from different industries to enable more scalable and efficient commercial data sharing

Inclusion
Inclusion

Enable entities, particularly small and medium-sized enterprises (SMEs), to take more control of their digital footprint and use their commerical data to enhance their access to financial services

Intelligence
Intelligence

Allow entities to conduct more comprehensive risk assessment and make more informed business decisions with additional commercial data

Innovation
Innovation

Provide an ecosystem for entities to work together and develop innovation services and businesses with commercial data

 

Integration

Connect entities from different industries to enable more scalable and efficient commercial data sharing

Integration

Inclusion

Enable entities, particularly small and medium-sized enterprises (SMEs), to take more control of their digital footprint and use their commerical data to enhance their access to financial services

Inclusion

Intelligence

Allow entities to conduct more comprehensive risk assessment and make more informed business decisions with additional commercial data

Intelligence

Innovation

Provide an ecosystem for entities to work together and develop innovation services and businesses with commercial data

Innovation

CDI Stakeholders

Data Provider can be any commercial entities which collects digital footprint of Data Owner.

Data Owner (i.e. SME) can provide consent via CDI for Data Provider, which will provide commercial data to Data Consumer for various uses, such as loan application.

Data Consumer (i.e. financial institutions) can make use of commercial data provided by Data Provider to provide better services, such as loan approval.

Analytics Provider provides data analytics services to Data Consumer.

Solution Provider provides various value-added services to the CDI ecosystem.

Design Principles

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API Centricity
API Centricity

The CDI allows independency among the CDI participants, such that each participant can continue to develop its own application and evolve independently to differentiate itself from other participants in the CDI

Data Protection
Data Protection and Privacy

The CDI mandates consent to be collected prior to data exchange, and facilitates data exchange between the CDI participants without storing any exchanged data, for protection of Data Owner’s interest and privacy

Diversity
Diversity & Interoperability

The CDI is use case neutral to maximise the number of participants and use case that can leverage it

Flexibility
Flexibility

The CDI adopts event-driven design to provide flexibility for introducing new functionalities in the future, and integrating with other fintech platforms or systems to further enhance the ecosystem

Traceability
Traceability

The CDI is backed by event logging of participants' activities to enable audit trail if necessary

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data_owner
Data Owner
governabce_data_owner_line

Leverage commercial data to provide financial service

1
Provide consent to either participant for the transfer and use of commercial data

Provide/Create commercial data through transaction or service

data_providers

The CDI participants

Operation flow related to the CDI

Operation flow indirectly related to CDI

3
Collect commercial data
(with consent)
Data Consumer
Data Provider
2
Provide commercial data
(with consent)

How does CDI work?

This video shows how CDI can potentially transform SME’s loan process and create more possibilities with commercial data sharing.

Data and Consent Flow

Relationship of CDI stakeholders

CDI enables a consent-based sharing – data will only be shared with data consumers (e.g., banks) after data owners (e.g., SMEs) have given their explicit consent to banks and data providers.

To facilitate the CDI Adoption, Data Consumers and Data Providers can connect to CDI via API calls to exchange consent and data, and focus on exploring various use cases. In addition, CDI is backed by event logging of participants’ activities to ensure a proper audit trail. Moreover, CDI does not store any commercial data to uphold the principle of data protection and increase system efficiency.

How will I Benefit from Joining CDI?

Data Consumers
Data Providers
Data Owner
Data Consumers
(i) Safe and reliable environment for data exchange;
(ii) Easier access to the commercial data in the market;
(iii) Single connection to access a pool of secure Data Providers;
(iv) New business opportunities, innovative service enhancement, and better risk management;
(v) Increased customer loyalty; and
(vi) Reduced fraud and lower compliance costs.
Data Providers
(i) Safe and reliable environment for data exchange;
(ii) More efficient matchmaking with Data Consumers to explore potential use cases of commercial data;
(iii) Single connection to access a pool of secure Data Consumers;
(iv) More opportunities to commercialise possessed commercial data; and
(v) New value-added services to customers.
Data Owner
(i) Better access to financial services; and
(ii) More customised financial services.

Governance and Control

Governance & Controls in CDI to uphold the principle of data protection

A set of CDI Governance document, standardised agreements and templates have been issued to clearly delineate different parties’ responsibilities and liabilities in CDI, including:

  • Rules for Commercial Data Interchange
  • CDI Membership Agreement
  • CDI Service Agreement
  • Consent Form
Download CDI framework

Multiple layers of security measures have been implemented to ensure that the connection of and data transfer to and from CDI are secure, including:

  • Enable access control to allow only authorised entities (i.e. CDI participants) to perform data exchange;
  • Facilitate end-to-end encryption for commercial data transmission; and
  • Do not store any commercial data in CDI to minimise the risk of data leakage.

Our Journey

Official Launch

Official production launch of CDI
2022/10

Circular Issuance

The HKMA issued a circular to encourage authorized institutions (AIs) to develop plans to connect their systems to CDI
2021/12

Pilot

Pilot Stage involving eight pairs of banks and data providers
2021/11

Proof-of-Concept (PoC)

PoC studies with banks on using trade-related data to facilitate trade finance application process
2020/11
商業數據通 Commercial Data Interchange

Contact us

55th Floor, Two International Finance Centre, 8 Finance Street, Central
Hong Kong

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