Lending
Hong Kong Monetary Authority Enhances Support for SMEs with New Initiatives
In response to the evolving economic landscape and recent changes in consumer and tourist spending patterns, the Hong Kong Monetary Authority (HKMA) has introduced a series of new measures to further bolster its support for small and medium-sized enterprises (SMEs).
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Hong Kong Consumers Prioritise Credit Monitoring, TransUnion Study Finds
A recent study by TransUnion has highlighted a substantial increase in credit monitoring services among consumers in Hong Kong. Enrollments surging by over 194 percent in the three months leading up to September 2023 compared to the same period in
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Hong Kong to Launch Credit Data Smart to Enhance Credit Services
Credit Data Smart is scheduled to launch on 26 April, marking a significant step in the “Fintech 2025” strategy aimed at enhancing Hong Kong’s data infrastructure for financial technology. The launch is in collaboration with the Hong Kong Association of
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What Does the Future Hold for SME Lending in Hong Kong?
The vibrant economy of Hong Kong is significantly bolstered by small and medium-sized enterprises (SMEs), which constitute nearly 99 percent of its business landscape and are central to the SME lending sector. With over 362,000 SMEs as of the end
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Hang Seng Bank Unveils HK$33 Billion Fund to Support Hong Kong SMEs
Hang Seng Bank announced the HK$33 billion SME Power Up Fund to bolster the growth, cross-border development, and sustainable advancement of small and medium-sized enterprises (SMEs) in Hong Kong. The fund addresses the challenges SMEs face today, from cash flow
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The Bank of East Asia Leverages CDI for Efficient SME Credit Evaluations
The Bank of East Asia (BEA) has announced a collaboration with PingAn OneConnect Credit Reference Services Agency (HK) Limited (PAOCCRA) to enhance the credit evaluation process for SMEs in the trade sector. This initiative leverages the Commercial Data Interchange (CDI)
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HKMA Supports “Credit Data Smart” Pilot to Enhance Credit Reporting Services
The Hong Kong Monetary Authority (HKMA) has expressed its support for the newly launched pilot programme, “Credit Data Smart”. This initiative, announced by key banking and financial industry associations on 17 November, is part of the broader “Fintech 2025” strategy
Read MoreThought Machine’s Modern Core Enables Nikel to Close the Small Business Credit Gap
Thought Machine, a cloud-native banking technology company, has empowered Nikel, a fintech startup that unlocks credit for millions in Southeast Asia, to streamline its lending process and develop new products more quickly. Founded in 2018, Nikel which rebranded from Impact
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Mobilewalla LendBetter: The Future of Lending for New-To-Credit Prospects
Financial inclusion and credit access are essential for driving economic growth and improving livelihoods in numerous emerging markets, including South Asia. However, extending credit to underbanked and unbanked populations comes with inherent risks, especially when dealing with new-to-credit customers who
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HSBC Visa Credit Card Customers Can Now Opt For BNPL Option at Checkout
HSBC announced that its Visa credit card customers can now opt for “Visa Instalments” to pay at selected online stores of designated merchants. They can pay by dividing the spending amount into smaller equal payments under instalment plans that offer
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