HKMA welcomes completion of migration of consumer credit reference services to Credit Data Smart

The Hong Kong Monetary Authority (HKMA) has announced the successful migration of consumer credit reference services to Credit Data Smart, a move welcomed by industry associations. This milestone aims to enhance competition, improve service quality, and reduce the risks associated with relying on a single credit reference agency. The HKMA expressed gratitude to all stakeholders involved in implementing this significant advancement in Hong Kong’s consumer credit reference market.

Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/11/20241125-3/