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Building healthy and long-lasting client relationships
LOGO
Entrepreneurial corporate and local business are integral to Hong Kong’s economic success. With roots sinking deep in their home, Hong Kong, Hang Seng spares no effort in building healthy and long-lasting relationships with their clients. As businesses have faced immense difficulties due to the COVID-19 pandemic, the bank has shown their commitment to be with their customers in good and bad times by providing unparalleled support to help its clients weather this unprecedented crisis both online and offline.
Solutions to ease pandemic strain
“We focused on providing liquidity support to customers and our proactive approach and fast response has helped see customers through this difficult period,” said Donald Lam, head of commercial banking at Hang Seng Bank. In early February 2020, the bank established a principal moratorium programme to extend the principal repayment period for many of its commercial customers. Hang Seng is also amongst the first batch of banks taking the initiative to reach out to commercial customers in the hard time.
Hang Seng Bank also threw its weight behind various government initiatives geared at helping SMEs. Hang Seng fully supports the Special 100% Loan Guarantee under the SME Financing Guarantee Scheme (“SFGS”). To simplify the application process for the needed business owners, Hang Seng launched the first-in-market online application for SFGS, which enables businesses to apply for the SFGS with just three simple steps. Making one step easier for owners to get the funds to lessen their pressure on paying rent and salary during this difficult time. As of 30 December 2020, over 40% of applications for Special 100% Loan Guarantee came from online channels.
In addition, the bank also supported the Hong Kong Monetary Authority’s Pre-approved Principal Payment Holiday Scheme, which provides payment holidays to over 80% of eligible customers. Under the scheme, principal payments of loans will generally be deferred by six months, whilst the principal repayment of trade facilities will be deferred by 90 days.
“Relieve measures aside, it is our professional relationship management team who has been keeping a close relationship with clients that truly help the customers through by tailor-made proposals to alleviate their burden,” Lam added.
Simplify the way of doing business
Hang Seng’s goal is to simplify the way businesses manage their finance. “Every features in our digital banking solutions are designed based on the business needs of our customers. We aim to make their business management easier and more efficient,” Through continued investment in enhancing its digital capabilities,
PHILOSOPHY
Strive for service excellence and maintain long-term relationship with customers.
FAST FACTS
• Founded in 1933, Hang Seng is one of Hong Kong’s largest listed companies. Our market capitalisation as at 30 June 2020 was HK$248.7 billion. • The Bank serves over half the adult residents of Hong Kong – more than 3.5 million people – through over 290 service outlets. We also maintain branches in Macau and
Singapore and a representative office in Taipei. • Established in May 2007, wholly owned subsidiary Hang Seng Bank (China) Limited is headquartered in
Pudong, Shanghai, and operates a mainland China network. • Hang Seng is a principal member of the HSBC Group, one of the world’s largest banking and financial services organisations. • The Bank’s major business activities comprise wealth and personal banking, commercial banking, and global banking and markets. The
Bank also offers a comprehensive range of renminbi services
Opposite Page: Donald Lam, Head of Corporate and Commercial Banking at Hang Seng Bank LimitedThis page: (1) SME Financing Guarantee Scheme; (2) Remote Account Opening Service for business accounts is now available.
the bank has been able to provide seamless services to customers during the pandemic. Hang Seng’s digital platforms have provided an option for business owners to handle and manage their banking at ease from the start of business to its day-to-day operations.
Under the Business Banking Remote Account Opening service, business clients can open an account fully online anytime, anywhere without the need to make an appointment or personally visit a business banking centre. The paperless, digital and simple account opening process is first available for all sole proprietors and one-person limited companies registered in Hong Kong.
“This is the latest digital innovation under the Bank’s ongoing investment in financial technology aimed at supporting customers to capture business opportunities and enhance operational efficiency,” Lam noted. “The convenient service is particularly timely given the challenges brought by social distancing and the change of lifestyle habits this year.”
Timely incoming and outgoing payments are essential for business success. Hang Seng has introduced the first-in-town Inward Payment Tracker complemented by the existing Outward Payment Tracker, allowing customers to easily keep track of the real-time remittance progress on the bank’s digital platforms. Constant communications with buyers and sellers of the payment progress can be avoided. “We believe by enhancing communications with business partners and speeding up the cash flow cycle, our customers can gain a head-start in every business move,” Lam added.
Furthermore, to enable customer’s flexible use of their funds, Hang Seng’s ‘One-Click Time Deposit’ offers a simple solution for customers to set up time deposits with customised interest rates online with just a single click.
“By focusing on the needs of our business clients, our new digital initiative helps our customers save time, access information more easily and make faster decisions. We will continue to uphold our commitment to service excellence both online and offline. The two services can continue to perfectly complement each other to support our customers every step of the way,” Lam concludes.
