Interbank Account Data Sharing ("IADS")

IADS is a program initiated by the Hong Kong Monetary Authority promoting data exchange between participating local banks; which aims to facilitate the digitization of banking services and the advancement of open banking, ultimately enhancing customer experience. This initiative rides on the fundamental of Open API framework (Phase III) released by the Hong Kong Monetary Authority, which focuses on the exchange of account information, such as account availability, status, transactions and balance. Furthermore, data sharing only occurs with the customer's consent. All data are encrypted during the transfer, and sensitive information (such as account numbers) will be partially masked for protection.

1. What kind of data will be exchanged between banks?

"Interbank Account Data Sharing" rides on the fundamental of Open API framework (Phase III) released by the Hong Kong Monetary Authority, which focuses on the exchange of account information, such as account availability, status, transactions and balance under customer consent.

2. Which type of account(s) can be shared?

Personal Customer
You can share any savings / current account under your name.

328 Business e-Banking Customer
You can share any savings / current account under your company.

3. Am I able to view, manage and revoke my authorisation(s)?

Personal Customer
You can simply login to Dah Sing Digital Banking and click on "Services" > "Access Authorisation to Account Information" to view, manage or revoke any aurthorisation(s).

328 Business e-Banking Customer

4. Will bank(s) retain the obtained data?

Our Bank will handle and retain the obtained data in accordance to the "Disclaimer and Privacy Policy Statement"; and data will be purged upon expiration or revocation of authorisation.

5. How long is the consent period for data sharing?

The consent period is at most one year. It will be reviewed from time to time, subjected to HKMA's latest guideline or announcement.

"SME Identity Verification Service"

1. What is "SME Identity Verification Service"?

Dah Sing Bank's first "Interbank Account Data Sharing" use case is for "SME Identity Verification Service"; allowing "328 Business Banking" customers who opened accounts remotely to complete account opening and customer due diligence process to fully access a one-stop, seamless digital wealth management service.

2. Is "SME Identity Verification Service" applicable to all "328 Business Banking" customers?

It is only applicable to Sole Proprietorships (including single beneficiary owner of limited and unlimited companies) who have not complete identity verification after remote account opening. Beneficiary owner who hold same-name company account with other local bank may use "Same-Name Company Account" for verification. For those who don't hold same-name company account with other local bank, may also use "Same-Name Personal Account" for verification.

3. What information will be used for "Same-Name Company Account" verification?

"Same-Name Company Account" verification will use the Business Registration Number between your Dah Sing Bank "328 Business Banking" account and the same-name company account from the selected other local bank for verification.

4. What information will be used for "Same-Name Personal Account" verification?

"Same-Name Personal Account" verification will use the Identification Document Number of the beneficiary owner between your Dah Sing Bank "328 Business Banking" account and the personal account from the selected other local bank for verification.

5. Will the bank retain the data obtained?

Upon completion of identity verification, relevant consent and shared data will be revoked and removed.

6. Will any functionalities be restricted if identity verification is not completed?

If identity verification is not completed, functionalities such as transfer will be restricted.

7. What if I do not hold an account in the list of other local banks?

You can still verify your identity through other means such as visiting our branches. Dah Sing Bank also continues to expand cooperation with other local banks and will update the connected bank list regularly. Please stay tuned for updates.

"328 SME Loan Application"

1. What is the relationship between the "328 SME Loan Application" and "Interbank Account Data Sharing"?

Dah Sing Bank's latest "Interbank Account Data Sharing" use case if for "328 SME Loan Application", allowing customers to provide consent to share deposit account data from the selected bank(s) when applying for designated SME loans, eliminating the need to submit paper bank statements and simplifying the loan application process.

2. Is "328 SME Loan Application" applicable to all "328 Business Banking" customers?

This service is available to all new and existing "328 Business Banking" customers who wish to apply for the 328 SME Loan.

3. What kind of data will banks exchange?

"Interbank Account Data Sharing" rides on the fundamental of Open API framework (Phase III) released by the Hong Kong Monetary Authority, which focuses on the exchange of account information, such as account availability, status, transactions and balance.

4. Will the bank retain the obtained data?

We will reatin the obtained data until the "Consent Expiry Date" stated by the customer. After expiry or revocation, the account information obtained from other local banks will be purged.

5. How can I revoke the consent?

If you wish to revoke the consent, you may do so by either of the below options:

(a) Before the Bank's completion of the approval process of your SME Loan Application – You may revoke your consent at the Data Providing Bank's platform; or

(b) After the Bank's completion of the approval process of your SME Loan Application – You may do so at the Bank's 328 Business e-Banking platform.

6. What if I do not hold an account in any of the local banks listed?

You can also upload your bank statement(s) directly. Dah Sing Bank also continues to expand cooperation with other local banks and will update the connected bank list regularly. Please stay tuned for updates.

Dah Sing Bank as Data Provider:

Dah Sing Bank as Data Consumer:

^*Only applicable to "SME Identity Verification Service"