ZA Bank is advancing the adoption of Interbank Account Data Sharing (IADS) as part of its strategy to support the Hong Kong Monetary Authority’s (HKMA) Fintech 2030 roadmap. CEO Calvin Ng outlined the bank’s vision for open banking at Hong Kong FinTech Week 2025, highlighting how IADS is playing a central role in transforming digital banking in Hong Kong.
Speaking at a forum organised by the HKMA, Ng explained that ZA Bank is leveraging IADS to drive product innovation and improve customer experience. The bank’s IADS-enabled services, such as instant loan approvals, allow customers to share their account data from other banks for automatic credit assessments, removing the need for physical documentation.
Looking ahead, ZA Bank plans to expand the use of IADS with features like one-click loan repayment setups, flexible repayment scheduling, and real-time financial insights based on cross-bank data sharing. Ng emphasised that collaboration between banks and fintech firms will be essential to furthering the adoption of open banking in the region.
The bank also expressed its strong support for the HKMA’s Fintech 2030 vision, noting that its initiatives align with key areas such as data and artificial intelligence (AI), cybersecurity, and tokenisation, all of which are crucial for the future of Hong Kong’s digital banking landscape.