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HSBC & HKTV Partner for Rapid Digital Trade Finance

HSBC & HKTV Partner for Rapid Digital Trade Finance

(09 February 2021 – Hong Kong) HSBC and Hong Kong Television Network Ltd (HKTVmall) have announced a new partnership that utilises commercial data to deliver a simpler and faster digital trade finance solution, supporting SMEs that look to thrive in the fast-growing Hong Kong eCommerce market.

The new program will be launched in H2 2021 and is designed to make it easier for merchants to gain access to digital trade finance. HKTVmall will provide merchant data including turnover and refund records of different types of goods for HSBC to analyse and forecast business performance during the credit assessment and monitoring process. A pilot scheme has already extended offers of digital trade finance based on merchant’s turnover data provided by HKTVmall. The partnership underscores HSBC’s commitment to driving digital innovation, and sets up the group for further collaboration in big data analytics and application programming interface (API) technology.

“As a key member of fintech ecosystem in Hong Kong, HSBC sees the importance of collaborating with different players to foster innovation and match the rapid evolution of the market. We are pleased to join hands with HKTVmall to support online merchants by pioneering new ways of using data to simplify the loan approval processes. This partnership promises to drive innovation in the way that big data can make customers’ lives easier and support digital transformation for Hong Kong’s business community” stated HSBC Head of Commercial Banking, Hong Kong, Terence Chiu.

“HKTVmall is committed to establishing a unique ‘Digital Ecosystem’, aiming to contribute further to make Hong Kong a smarter city. Earlier this year in mid-January, we have launched ‘HKTVmall Open Databank’, in which we share our eCommerce data with the society, uniting the power of professionals from different industries and unleashing the potential of data. This partnership has indeed taken us one step further, showcasing how to turn actual e-Commerce operational data into a credit assessment and monitoring tool to make commercial financing smarter and more efficient” commented HKTV Group CFO, Alice Wong.

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