Hong Kong Monetary Authority Launches SAGE Project to Advance AI Agent Applications in Payments and Financial Services

According to TechFlow, on November 2, the Hong Kong Monetary Authority announced the official launch of the SAGE project (Securing Agentic Finance with Governance and Enablement), aiming to foster the secure and responsible development of Agentic Finance in Hong Kong. An Agentic Finance Expert Panel will also be established, with members drawn from financial institutions, technology service providers, professional service firms, and academia.

The SAGE project will focus on four key areas: exploring AI Agent applications in scenarios such as daily shopping payments, corporate procurement, treasury management, and machine-to-machine (M2M) payments; researching identity authentication and authorization mechanisms for "Know Your Agent" (KYA); advancing industry interoperability standards; and examining the legal liabilities, regulatory requirements, and consumer protection mechanisms associated with AI Agent involvement in financial activities.