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Payments General

SWIFT and HSBC partner for common API standard in Hong Kong

Tuesday 8 October 2019 | 02:16 PM CET

SWIFT and HSBC have announced a partnership around defining a common API standard under JavaScript Object Notation (JSON) using ISO 20022.

In July 2018, the Hong Kong Monetary Authority (HKMA) introduced its Open API Framework, for the broader adoption of APIs by its banking sector. Since its launch, over 500 APIs have been made available by 20 participating banks.

SWIFT and HSBC are aiming to avoid fragmentation on common use cases, speed up and ease API integration and improve interoperability with the Hong Kong Faster Payments System’s clearing and settlement platform.

More: Link
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