Standard Chartered HK automates onboarding processes of SMEs

The solution reduces application turnaround time, the bank said.

Standard Chartered Bank (Hong Kong) has launched real-time know-your-customer (KYC) verifications via the Hong Kong Monetary Authority (HKMA)-led commercial data interchange (CDI) platform.

Launched in partnership with Know Your Customer Ltd., the verification is expected to enhance the account opening of small and medium enterprises (SMEs) as well as KYC procedures.

The solution is said to significantly streamline the account opening journey, reduce the application turnaround time, and drive substantial operational efficiency gains, according to a press statement on 28 July 2025.

Using Know Your Customer's capabilities, Standard Chartered Hong Kong automates the retrieval of company search data via the application programming interface (API) included in CDI.

It also unravels complex ultimate beneficial owner (UBO) structures to identify the true owners of corporate entities and improve risk assessment accuracy.

This solution allows the bank to retrieve information required for account opening by automating data feeds from Know Your Customer and empowers the bank to consolidate company search data via CDI.