Data hk is a new infrastructure that will make it easier for banks to share commercial data. It will provide a single point of connection between bank systems and sources of commercial data, which will speed up financial intermediation and improve the banking system. It is a key component of HKMA’s Fintech 2025 strategy to boost Hong Kong’s competitiveness and enhance its role as a global hub for fintech.

Data Governance Team

A strong governance program requires a diverse set of people with both business and IT expertise to support, sponsor, steward and operationalize your data governance framework. This includes a leader who coordinates tasks for stewards, helps communicate decisions and acts as a point of escalation to the executive sponsor and steering committee. The data governance leader may also serve as a project manager who uses tools like a responsibility assignment matrix (RACI, representing roles for responsible, accountable, consult and informed) to track progress and ensure that key players are engaged in the program at the right times.

The Data Protection (Hong Kong) Law, enacted on 20 December 1996 and significantly amended in 2012 and 2021, regulates the collection, processing, holding and use of personal data through six data protection principles. Exceptions to data usage limitations and access requirements include those for safeguarding the security, defence and international relations of Hong Kong; crime prevention or detection; assessment or collection of taxes or duties; public interest journalism; preventing unlawful or seriously improper conduct, news activities; and legal proceedings and establishing, exercising or defending rights.