Recently, with an agenda to facilitate trade finance services to e-commerce merchants\u2019, HSBC has joined forces with HKTVmall, a Hong Kong-based online shopping and entertainment platform.The initiated collaboration by HSBC will allow HKTVmall\u2019s merchants who are engaged in the operations of selling electronic appliances, fashion & consumer goods to get instant finance without any requirements of submitting collateral or financial documents to the lenders.For this purpose, HSBC will conduct a thorough check of the vendor\u2019s data from HKTVmall so that it could examine and predict their credit performance. It includes turnover and refund records of several types of goods etc.Terence Chiu, head of commercial banking, Hong Kong at HSBC says, \u201cWe are glad to collaborate with HKTVmall to aid online merchants by figuring out productive ways of using the information to make the process of loan approval easier.\u201d He further added, \u201cThis partnership assures to bring innovation in the way that huge information can transform client\u2019s lives into simpler and contribute to digital transformation for Hong Kong\u2019s business community. \u201cThis recent partnership is followed by last year\u2019s partnership of HSBC with Alibaba\u2019s logistics arm Cainiao Network Technology where the HongKong vendors on the Alibaba-owned TMall Global e-marketplace were enabled to apply for fundraising of up to US$500,000, which was the bank\u2019s \u201cfirst trade finance solution to consider real-time third party information for getting a loan approved.\u201d according to an HSBC spokesperson.However, the main area of difference is the use of the recently launched Commercial Data Interchange (CDI) by HSBC-HKTVmall partnership.Disclosed at the past year\u2019s Hong Kong Fintech Week virtual conference in November, the CDI is the Hong Kong Monetary Authority\u2019s (HKMA) engaged in open banking operations. CDI was established as the data clearinghouse which allows information flow from clients and third-party data sources to banks, which can be used as\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Recently, with an agenda to facilitate trade finance services to e-commerce merchants\u2019, HSBC has joined forces with HKTVmall, a Hong Kong-based online shopping and entertainment platform.The [...]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/posts\/3739"}],"collection":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/comments?post=3739"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/posts\/3739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/media?parent=3739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/categories?post=3739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/tags?post=3739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}