Small and medium enterprises are often touted as amongst the most underserved segments by traditional financial institutions. And the case is no different in Hong Kong, which is why virtual-only bank livi’s newest product offering, the “livi Business” app, is a game changer for local small business owners.
The app offers a fully automated account-opening process that can reportedly be finished in just 20 minutes, with the possibility of having their new accounts opened in as little as 24 hours.
“In Hong Kong, we recognized [that] the pain point of the SMEs over here is opening a bank account. Getting loans often takes weeks, if not months,” Gary Lam, chief technology officer at livi Bank Ltd., told Asian Banking & Finance. This is why livi Bank came about designing and launching livi Business.
Diese Geschichte stammt aus der Issue 111-Ausgabe von Asian Banking & Finance.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der Issue 111-Ausgabe von Asian Banking & Finance.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Embedded Finance, Digital Banks To Drive SEA's Fintechs
Embedded finance, partnerships, and digital banks will be the three defining trends shaping Southeast Asia’s financial technology (fintech) landscape in the future.
UBC Aims For Top 5 In Sri Lanka Banking
Chairman Nirvana Chaudhary is prepared to lead amidst a national finance crisis.
What Makes Malaysia The Next Great Investment Banking Frontier In Southeast Asia?
EVs, takaful insurance, and its proximity to Singapore attract investment activity, according to a BofA executive.
How HomePay Is Combating Renovation Scams In Singapore
Money is put in an escrow account and disbursed when milestones are reached.
Will Property Woes Continue To Weigh On Chinese Megabanks?
This year, Chinese megabanks are facing two big hurdles: the government’s mandate that may force banks to take on more risks in the name of propping up China’s embattled property sector; and declining credit demand and interest rates.
How Have Banks' Wealth Management Pivots Played Out In China?
There’s up to $25b in fees to be made in Asia, but it’s a tough market, an analyst said.
Why Singaporeans are okay with locking away over $4b of their money
Customers can only access 'locked' money with a physical card or by visiting a branch.
OCBC builds the the next pipeline of talent
Lim weaves in support for women bankers to broader industry talent shortage.
Banks flip the tables on disruption by becoming the disruptors themselves
Companies are facing not just tech transformations but also shorter skill lifespans for their workforce.
Basel III capital hike is not a problem for APAC
Most of banking jurisdictions in most Asia Pacific markets should be able to absorb the moderate increases in capital requirements stipulated under the final Basel III standards.