livi bank, Hong Kong’s lifestyle-driven virtual bank, announced the soft launch of livi Business as it expands its capabilities to support Hong Kong’s small and medium enterprises (‘SMEs’).
To help business owners take advantage of the most recent advancements in digital financial services, livi Business intends to provide a fully automated mobile banking experience. Beginning with a market-first feature that enables SME customers to open a new livi Business account in as less as one working day, this experience is first-rated. With a 20-minute application process and 24/7 account openings on the livi App, livi Business offers SME account openings without the need for paperwork. This hassle-free account-establishing process allows SMEs to focus on expanding their company rather than wasting time on administrative banking tasks.
“livi’s SME mobile banking experience is set to disrupt the market as on-the-go entrepreneurs can manage their business and personal accounts all in one app. Our extensive customer research has told us that our SME customers want simple, transparent and reliable banking services. Our experienced SME team understands just how limited current banking offerings are, and it’s our mission to create a new normal by revolutionizing the market”, said Eve Lin, Head of Strategy and Segment Management, SME, Iivi Bank.
Following a successful Sandbox trial that was concluded in December 2022, livi Business has already onboarded over 100 SME customers, and consumer response has been favorable.
David Sun, Chief Executive Officer, Iivi Bank, said, “livi Business brings the best of livi’s technological capabilities to the SME experience, making banking fast and easy for our business customers. We are excited to introduce our game-changing fully-digital account-opening journey that addresses the pain-points experienced by SME customers. With business activity in Hong Kong poised for an upturn, we plan to extend our SME offerings in the coming months in areas such as lending and trade financing. With our vision of supporting financial inclusion, livi Business will empower SMEs to focus on what they do best, building their businesses and driving growth.”