Core Insights - The Hong Kong Monetary Authority (HKMA) hosted the 2025 Data Summit, showcasing the Shenzhen-Hong Kong Cross-Boundary Data Validation Platform (DVP) as a key initiative for secure and efficient cross-border data verification services [1][2] Group 1: DVP Overview - DVP is a new cross-border service infrastructure developed under the guidance of multiple regulatory bodies, utilizing blockchain technology for secure and traceable data verification without transferring original data files [2] - The platform currently supports various types of data verification, including personal and corporate credit reports, catering to the needs of residents and businesses operating across the Shenzhen-Hong Kong border [2] Group 2: CDI and Financial Inclusion - The Commercial Data Interchange (CDI) is part of HKMA's "Fintech 2025" strategy, aimed at enhancing the banking system's role in financial intermediation and promoting financial inclusion in Hong Kong [2] - CDI provides member institutions with data interfaces to reduce connection costs with commercial data sources, facilitating safer and more convenient data sharing [2] Group 3: DVP Implementation and Impact - As of now, DVP has served over 10 scenario institutions, being applied in cross-border credit verification and financing [3] - Representatives from Fubon Bank and ICBC Asia shared positive outcomes from their integration with DVP, highlighting significant loan approvals for SMEs in the Greater Bay Area [3] - Future plans include using DVP for personal loan services to better assess borrowers' credit status, supporting talent introduction initiatives [3] Group 4: Future Developments - The DVP is set to officially launch in May 2024, with plans to connect to a wider range of data sources to enhance connectivity within the Guangdong-Hong Kong-Macao Greater Bay Area [4]