Frequently Asked Questions

Using APIX

Application programming interface (API) is a computer programming approach for facilitating exchange of information and executing instructions between different computer systems. Open APIs refer to APIs that allow third party access to systems of an organization. It is the critical medium for information exchange and innovative excellence through automated processes. API can be divided into three main categories based on the user’s initial intention: private, semi-open and open.

Private APIs are generally used internally to leverage existing systems within a company. They are designed to be invisible to irrelevant entities; semi-open APIs are securely encrypted and only open to specific external users with access rights. This is one of the most common methods to facilitate strategic partnerships between cross-company infrastructures.

APIs that are no longer restricted to certain user roles and can be accessed by the general public are known as Open APIs. This Open API framework is also one of the seven Smart Banking initiatives set out by HKMA to the Hong Kong banking sector.

In an Open API environment, API providers such as banks and financial institutions will bundle their products or services into a series of APIs. These resources can then be retrieved by TSPs (Third-party Service Providers) through an open platform where they are able to stimulate innovation and improve core competencies while bringing new and innovative features to their end-users. At the same time, unnecessary development can be avoided which in turn reduces the product cost and shortens time-to-market.

APIX is a centralized API repository that offers a single view of various APIs developers and connects different functions from participating API providers.

A sandbox is a testing environment that uses dummy data for TSPs to test whether the APIs are suitable for their needs before moving their applications to production, whereas live environments are production environments using real life data.

The APIX sandbox is currently free to use for TSPs and developers.

Simply proceed to our Sandbox Portal and register for a TSP account.

Once you register an account on APIX and create an app record on your profile, you can start browsing our API Catalog covering a range of banking, financial and lifestyle APIs.

APIX complies with the Open API Framework defined by HKMA (Hong Kong Monetary Authority) where only informational API products were available to public during Phase 1 launched in January 2019. With the sophistication of API framework in Hong Kong, APIX Phase 2 is launched on October 2019 allowing application to be completed via APIs.

Subject to the Terms of Use, anyone is eligible to become a developer by signing up with APIX.

According to the Open API Framework defined by HKMA, banks are required to implement Phase III API functions for the retrieval of deposit account information of both retail and corporate & SME customers, which the Phase III API functions include account availability, account status, account balance and transaction details.  Meanwhile, HKMA facilitated the Hong Kong Association of Banks (“HKAB”) to develop “Phase III Banking Open API Standards”, which APIX Phase 3 is implemented by basing on this standard.

APIX launched the Phase 3 API for the corporate & SME  customers in March, 2022 and retail customers in June, 2022 according to the HKMA’s go-live schedule.