(18 May 2016 – Hong Kong) DBS Bank has launched its “Meet Online” service for small and medium-sized enterprises (SMEs), allowing them to set up bank accounts without visiting its branches.
According to the bank, around eight percent of SMEs in Hong Kong conduct their business with it. DBS says it has launched the platform to boost its position from being the third-largest bank in SME sector.
SME owners can set up the accounts through video conference on FaceTime or WebEx. And couriers will collect documents and deposits as needed.
Alex Cheung, MD and head of institutional banking, said: “Meet Online greatly enhances the account opening experience for SME customers as everything can be done with the ease and convenience of a mobile or tablet device anywhere and anytime, thus allowing customers to have more time to grow their business and to live more, bank less.”
The launch follows recent comments from Cheung who said loan demand had declined because of a slowdown in economic conditions.