HSBC launched today Hong Kong’s first remote business account opening solution targeting small and medium enterprises (SMEs). Business owners can now open an account anytime and anywhere, without having to schedule face-to-face or video meetings with the Bank or submitting physical documents and signature. The application process is completely digitized and paperless.
The innovation builds on HSBC’s track record of market-first digital initiatives for commercial customers and already comprehensive suite of digital solutions, available through the Bank’s online and mobile banking platforms for the business community in Hong Kong. Daniel Chan, Head of Business Banking, Commercial Banking, Hong Kong, HSBC, said: “This seamless account opening solution means quick and easy access for small companies and startups to reliable and convenient banking services, reaffirming our commitment to support SMEs in Hong Kong and drive digital innovation in banking. We have engaged some SMEs for feedback in the design phase. A few of them have successfully opened an account remotely to enjoy the frequently-used fundamental banking services like deposits, autopay, payments, and foreign exchange during this pilot period.”
Customers can apply for a business integrated account remotely and obtain the account number immediately through HSBC’s online Account Application Centre and Business Express mobile app by following a few steps:
- Create a profile and complete the online account opening form
- Upload digital copies of required documents
- Input one-time password delivered via SMS
- Authenticate ID using selfie verification technology
Issued by The Hongkong and Shanghai Banking Corporation Limited Customers will also be directed to register for Business Internet Banking and activate their Mobile Security Key.
A dedicated team has been formed to process remote business account applications, and reach out to customers to understand more about their businesses over the phone. Following the assessment, an SMS will be sent to applicants to confirm account activation.
Customers can also seek realtime help from a customer service officer through HSBC Live Chat, an online messaging service on the Bank’s digital platform. The new solution is initially offered to Hong Kong customers with less than three years of establishment and a simple company structure. HSBC will continue to extend the solution to businesses with more complex structures and overseas operations in the future. HSBC has a long record of using digital innovation to transform customer journey.
Last month, the Bank partnered with corporate service provider NOVA Group to introduce Hong Kong’s first business account opening Open API as a pioneering move to drive open banking developments.
