DBS Bank (Hong Kong) Limited (“DBS Hong Kong”) today announced a new connection with the Companies Registry (CR) through Commercial Data Interchange (CDI), which is expected to enhance the bank’s digital capabilities and support the overall development of CDI and FinTech in Hong Kong.

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.”

[END]

About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 15 consecutive years from 2009 to 2023.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

DBS Bank enhances digital capabilities through new connection in CDI portal