The new connection is with the Companies Registry (CR) in partnership with the Hong Kong Monetary Authority (HKMA), where DBS has built its own CDI portal to ingest CR data via API and in a machine-readable format. This proof-of-concept aims to test-run the API infrastructure with the aim to automate Know Your Customer (KYC) processes in the future, such as checking for changes in a client’s directorship, etc. With the success of the proof-of-concept, we will work closely with HKMA to further reduce paperwork required during the customer onboarding, lending applications and KYC processes in the next step.

Lareina Wang, Executive Director, Head of Digital and Innovation, Institutional Banking Group, DBS Bank Hong Kong, said, “By ingesting CR data into DBS bank system via CDI, we can enhance our KYC capabilities and ultimately provide a more efficient and seamless experience to our clients. We will continue to work on other use cases to bring in relevant external data via CDI to further upgrade our digital offerings.”