Cross-border data verification platform in Hengqin allows Macao residents to certify assert in 5 mins
As of July 2023, about 50 Macao residents have dealt with credit businesses via the Guangdong-Macao cross-boundary data verification platform, which takes only 5 minutes to certify assert, according to the Financial Development Bureau of the Guangdong-Macao In-depth Cooperation Zone in Hengqin.
As an open platform, it has been connected to a number of banking institutions including Hengqin branch of Industrial and Commercial Bank of China (ICBC), and Hengqin Branch of China Construction Bank (CCB), Macao branch of Bank of China. Macao residents now can apply for assert certification through the Apps of ICBC and CCB and the whole process costs only 5 minutes.
Built as an efficient infrastructure for verification of cross-boundary data for relevant institutions, the platform aims at providing more convenient cross-boundary services to residents from both regions. The Financial Development Bureau said that more financial innovation policies will be rolled out in the future to benefit residents within the Zone.
Guangdong-Macao cross-boundary data verification platform
The first cross-border data verification platform in the Guangdong-Hong-Kong-Macao Greater Bay Area, providing services for financial institutions, has started trial operations between Guangdong and Macau.
The platform will provide an “efficient infrastructure for cross-border data verification” for institutions in Guangdong and Macau, according to an announcement by the Hengqin cooperation zone administrative committee.
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