The HKMA and HKSTP launched the IADS Developer Hackathon to foster collaboration between banks and fintech firms, leveraging the Interbank Account Data Sharing ("IADS") initiative. The hackathon aims to drive innovation in secure, customer-consented data sharing in Hong Kong's banking sector. Finalists will showcase their solutions at a conference in March 2026, with potential business expansion and investor opportunities. The IADS initiative establishes rules for interbank data sharing, enhancing digitalization and customer experience.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
SFC Regulation of Virtual Asset Trading Platforms: The Emerging Hong Kong Framework
SFC proposes new regulation of virtual assets through licensing of operators of cryptocurrency and other digital asset trading platforms
Market Misconduct Tribunal: A Guide to Penalties and Other Consequences for Misuse of Insider Information
Market Misconduct Tribunal proceedings for mishandling of insider information can result in fines and disgorgement orders
SPOTLIGHT ON
FAMILY OFFICES
On October 2, 2025, the Hong Kong Monetary Authority ("HKMA") and the Hong Kong Science and Technology Parks Corporation ("HKSTP") unveiled the IADS Developer Hackathon and its Kick-off Ceremony. This event, scheduled from October 2025 to March 2026, aims to stimulate innovation in the banking sector by fostering collaboration between the banking industry and fintech firms worldwide.
Participants in the IADS Developer Hackathon will develop innovative solutions leveraging the Interbank Account Data Sharing ("IADS") initiative. The IADS initiative promotes secure and customer-consented data sharing among banks, enabling digital transformation and enhancing customer experience.
The hackathon provides mentorship from banking professionals and culminates in a showcase conference in March 2026. Winning teams may gain access to business expansion support, investor engagement platforms, brand exposure, and future pitching opportunities through HKSTP and partner organizations.
The IADS initiative, developed by the HKMA in collaboration with the banking industry, establishes rules and standards for interbank data sharing, facilitating secure and efficient sharing of account data subject to customer consent.
Executives from the HKMA and HKSTP underscored the hackathon's potential to drive innovation in both financial and technology sectors. They highlighted its role in enhancing Hong Kong's status as a hub for financial technology and innovation.
The launch ceremony was led by prominent figures, including Mr. George Chou, Chief Fintech Officer of the HKMA; Mr. Derek Chim, Head of Startup Ecosystem and Development of HKSTP; Ms. Esther Mai, Chairperson of the Fintech Committee of the Hong Kong Association of Banks; and Mr. Vincent Chan, Co-Chairman of the International Data Industry Alliance.
View the full article:Source
