Rebeca Moen
May 22, 2025 04:18
The Hong Kong Monetary Authority has partnered with Land Registry and started a new data sharing initiative to simplify the bank process through CDI-CDEG connection.
HKMA (Hong Kong Monetary Authority) announced a significant development of data sharing by successfully connecting commercial data exchange (CDI) with LR (Land Registry) through the government’s agreement with the government. According to HKMA, this new integration, known as LR@CDI, is designed to simplify the land search process of the participating banks.
Simplify the bank process
LR@CDI connection allows banks to automatically access land and ownership information through Application Programming Interface (API). This development is expected to improve the efficiency of real estate evaluation, mortgage evaluation and loan evaluation for both individuals and corporate customers. Banks provide smooth access to government data, improving risk assessments, improving customer experience, and reducing operating costs.
In addition, the integration is facilitating the e-notification notification through the API, providing a timely update to the bank when a new claim or mortgage document is registered. This feature is ready to greatly improve the bank’s risk management.
Leadership insight
HKMA’s deputy director Howard Lee expressed his passion for partnerships with LR and emphasized the potential of CDI-CDEG Linkage, which can unlock new efficiency in the banking sector and strengthen risk management. He emphasized HKMA’s promise to explore additional data sharing opportunities with additional government departments to develop Hong Kong’s digital economy.
Tony Wong, a digital policy committee member, reflects these feelings by pointing out the power of changes in sharing government data with the private sector. He pointed out that CDI-CDEG Initiatives are evidence of cooperation between the public and private sectors to improve Hong Kong’s overall economic competitiveness.
Continuous development and future prospects
CR@CDI Linkage has gained positive feedback from banks since its complete implementation in August 2024, with an average of 1.5 million data transfer every month. Eight banks are currently using this connection to optimize operations such as online account opening and customer due diligence, and more banks are expected to join the service.
Joyce TAM, a land regist, emphasized the LR’s promise to service innovation, emphasizing the role of LR@CDI to promote more digitized and simplified banking processes. Cooperation between HKMA, Digital Policy Office (DPO) and LR emphasizes shared devotion to increase data accessibility and operational efficiency in the sector.
For more information, visit the Hong Kong Monetary Authority.
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