DBS Hong Kong launches digital banking tools for SMEs

DBS Hong Kong deployed a new platform of digital tools to help small and medium-sized enterprises (SMEs) weather the tumultuous times caused by the pandemic, according to a Press release of the company.

The platform aims to help businesses get started in digital banking and access benefits such as unsecured financing and flexible business management, the statement said.

Key features include the aforementioned all-digital business accounts, as well as fast processing of requests, the statement said. There is a personalized view of online banking transactions on one screen for convenience, and users can visit trade finance applications whenever they want and access same-day loan disbursement for trade finance services. currents.

There is a personalized forex watchlist and real-time foreign exchange transactions, according to the release, and users can apply online for unsecured commercial loans up to HK $ 8 million (around $ 1 million). ).

Sebastien paredes, CEO of DBS Hong Kong, called SMEs “an essential part of Hong Kong’s economy”.

“With many businesses struggling to stay afloat and overcome financial challenges amid COVID-19, we are fully committed to helping [SMBs] transforming for a more resilient future, “he said, according to the statement.” Our constant efforts to innovate in the way we serve, engage and interact with customers, enables them to truly benefit from an online banking hassle-free and contactless. live.”

Alex Cheung, managing director and head of Institutional Banking Group at DBS Hong Kong, said Hong Kong’s 340,000 SMEs represent “over 98% of the total business community” there.

“With the current need for social distancing, allowing [SMBs] Opening a fully digital business account in as little as three business days solves a key problem for customers and is critical to meeting their business demands and expansion needs, ”he said, according to the statement. .

Earlier in the pandemic, DBS Hong Kong introduced a contactless way for SMEs to set up shop business accounts, which can be completed in two days and allow virtual meetings with DBS relations managers.

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