livi bank, Hong Kong’s leading lifestyle and technology-driven virtual bank, today announced the full launch of livi Business, its game-changing service designed to empower SMEs (small and medium enterprises) to pursue their ambitions by meeting their needs as they grow their business. livi Business offers SME entrepreneurs access to fast, simple and personalized financial services supported by advanced technology and data analytics. Debuting in the offering is its new digital unsecured loan service, livi Business Instalment Loan.
In a disruptive move, livi was the first virtual bank to bring the fully-automated account opening capabilities to Hong Kong SMEs through the livi App. This allows customers to apply for a business account in 20 minutes and have it opened in as little as 24 hours^, while loan approvals are also as fast as 24 hours^. Some 600 SME customers have opened livi Business accounts since its initial introduction, with total approved SME loan amounts in the order of HK$35 million. This strong response shows the high customer appreciation of this mobile SME banking solution.
“We are very excited with the range of benefits we are bringing to SMEs with livi Business, not least that we are the first virtual bank in Hong Kong to offer a digital unsecured instalment loan which we know will address a major pain point for SMEs. Our market leading technological and data capabilities at the heart of livi Business are key to supporting our SME customers on their growth journey by enabling access to seamless, convenient, fast and personalized financial services, anytime, anywhere,” said David Sun, livi Chief Executive Officer, at the press briefing of the launch of livi Business.
“The strong momentum of SME account opening is just the beginning. As we progress in 2023, we have a robust pipeline of product offerings that will provide a suite of financial services. These are designed to address the pressing business needs of SMEs as they look to build their businesses as they take advantage of Hong Kong reopening to the world – including FX, USD deposits, and global remittance,” David Sun continued.
Joining livi at the press briefing was Mr Michael Lai, Executive Vice President of the Hong Kong General Chamber of Small and Medium Business, who commented, “We in the SME sector are pleased that livi bank is taking us seriously and cares about our businesses. It’s well known that for an SME, opening a bank account and getting a loan often takes weeks, if not months, despite the important contribution SMEs make to the Hong Kong economy and employment. It’s important that our voices are now being heard.”
More about what livi Business Offers:
livi Business offers a simple business account opening experience through the livi App that benefits the busy entrepreneur.
livi Business Instalment Loan provides a seamless, convenient, fast and personalized digital customer journey to meet SME financing needs.
