HKMA and HKSTP launch IADS Developer Hackathon to foster bank–fintech collaboration

The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Science and Technology Parks Corporation (HKSTP), announced the launch of the IADS Developer Hackathon and held the Kick-off Ceremony today (2 October), marking the beginning of a multi-month innovation journey to foster innovation for the Interbank Account Data Sharing (IADS) initiative, and transform banking services through secure, customer-consented data sharing.

The IADS Developer Hackathon, organised by the HKSTP, runs from October 2025 to March 2026.  It brings together the banking industry and fintech firms from around the world to collaborate and create innovative, secure, customer-consented solutions, leveraging the IADS to drive digital transformation in Hong Kong’s banking sector.  Participants will develop innovative use cases for retail, corporate and SME customer segments, with mentorship provided by banking professionals.  Finalists will be invited to showcase their solutions at the IADS Developer Conference in March 2026, and winning teams may also have the opportunity to access business expansion support, investor engagement platforms, brand exposure, and future pitching opportunities through HKSTP, and other partner organisations, to promote the market and development of their solutions.

The IADS initiative is formulated by the HKMA and launched with the support of the banking industry.  The IADS initiative has established rules and standards that facilitate interbank customer-consented data sharing.  This enables customers to securely and efficiently share their bank account data from one participating bank to other participating banks, subject to customer consent.  Account data sharing can help digitalise banking operations, strengthen risk management of banks, and enhance customer experience.

According to Mr Nelson Chow, Executive Director (Financial Infrastructure) of the HKMA, “The IADS Developer Hackathon represents an exciting opportunity for the financial and technology sectors to converge and drive innovation in IADS.  We look forward to this event uncovering novel solutions that will benefit both the industry and the community.”

Mr Eric Or, Acting Chief Corporate Development Officer of the HKSTP, said, “The IADS Developer Hackathon embodies the spirit of innovation and collaboration that HKSTP strives to foster.  It will help catalyze innovation, providing valuable opportunities for startups to exchange and collaborate with the industry, and propelling Hong Kong's position as a hub for financial technology and innovation.”