Hang Seng Bank

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HANG SENG BANK BLAZES A TRAIL IN COMMERCIAL BANKING

Prioritising customer‑centricity, digitalisation, sustainability, and partnerships, Hang Seng Bank has maintained as a top and leading performer in Hong Kong’s commercial banking space. Founded in 1933, the bank has continuously innovated to serve individuals and businesses by providing best‑in‑class financial services, customer‑centric banking, investments, and wealth management.

With more than 3.5 million customers and about 290 service outlets in Hong Kong, Hang Seng Bank is widely recognised as the leading domestic bank in Hong Kong.

Going digital to better serve businesses

As a close partner of small and medium‑sized enterprises (SMEs), Hang Seng Bank understands well their need to have a more convenient and swift banking service anytime, anywhere. With this in mind, the bank has put its focus on digitalising business banking services from account opening to daily operation.

One big step last year is the expansion and enhancement of the Remote Account Opening service which support sole proprietors, partnerships and limited companies with up to five HKID‑holding connected parties. With the introduction of an ‘e‑Sign’ function, business customers can enjoy a remote service and seamless journey to apply for a chequebook at the same time. The service has taken the whole process online so business partners can save the trouble to make way for a common schedule for identity verification and providing signatures at Business Banking Centres.

To strengthen the support to newly‑established companies, a start‑up friendly ‘Biz Virtual+ Account has also been launched to provide a wide range of digital commercial banking services and preferential service fees, making it easier to get new enterprises off the ground and for local entrepreneurs to focus on their core business at a low operating cost. Biz Virtual+ accounts can be opened in as few as three working days after completing the Remote Account Opening Process.

From payroll, remittance, payment trackers, to time deposit and payment collection solutions, the essential business needs have all been well taken care of at Hang Seng’s Business e‑Banking. “Our goal is to simplify the way businesses manage their finance. Every feature in our digital banking solutions is designed based on the business needs of our customers. We aim to make their business management easier and more efficient,” said Donald Lam, Head of Commercial Banking at Hang Seng Bank.

Omnichannel customer experience

To offer a top‑notch customer experience to their customers, Hang Seng Bank did the imperative: creating a robust omnichannel banking platform.

Whilst the Bank’s primary focus is to enhance its digital customer experience, it never ceases to improve other customer touchpoints to deliver a desirable omnichannel experience. One of the bank’s key initiatives is to improve the services offered at its Business Banking Centres.

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.

This page: The new Head Office Business Banking Centre in Central Hang Seng, Hang Seng Bank Limited and its subsidiary Hang Seng Bank (China) Limited will support business in the Greater Bay Area.

Opposite page: Donald Lam, Head of Commercial Banking, Hang Seng Bank Limited

The Centres in prime commercial districts including Central Head Office, Tsim Sha Tsui and Kwun Tong are now ready to offer a one‑ stop‑shop service, from daily operations such as counter transactions to a full spectrum of professional services to save businessmen’s time and resources. The new counters will be exclusively serving commercial customers whilst branches nearby can be more focused on serving personal customers.

Sustainability efforts

In light of sustainability’s growing importance as a global trend, Hang Seng Bank has created a green team dedicated to providing a range of green and sustainable financial solutions and services, such as the Greenness Assessment Programme with the Hong Kong Quality Assurance Agency and the Sustainability‑linked Loan Programme. In 2021, Hang Seng Bank has approved 23 green loans with loan amounts of HK$7.3b, exceeding that of 2020 by over 15 times.

Lam remarked, “Hang Seng is committed to promoting the environmental, social and governance (ESG) development of the banking industry and supporting the transition to a low‑carbon economy. In addition to setting ourselves challenging internal targets, including being carbon‑neutral in our operations by 2030, we are also actively expanding our support for customers that are seeking to operate and grow their businesses in line with good ESG principles.”

Strategic partnerships to promote innovation

According to Lam, Hang Seng Bank is committed to supporting innovation development in the Greater Bay Area (GBA). Thus, the bank is actively making strategic partnerships with different companies to drive greater innovation in the region, help local enterprises capture more business opportunities, and contribute to the greater digitalisation of businesses across all industry sectors.

Hang Seng Bank and Hong Kong Trade Development Council announced their strategic partnership to empower SMEs in Hong Kong and the GBA through the co‑creation of a one‑stop platform, ‘InnoClub’, that combines both parties’ respective businesses networks, digital and financing solutions, advisory expertise, and research capabilities. The platform is expected to help local and GBA SMEs in all sectors to digitalise their operations and adopt innovative business solutions.

Hang Seng Bank also partnered with Hong Kong Cyberport Management Company Limited (Cyberport) to drive Hong Kong entrepreneurship in five key areas – GBA market opportunities; cultivation of innovators; smart banking development; access to corporate venture capital; and banking services with cross‑boundary financial features.

The partnership will benefit companies with a business presence in Cyberport to scale up their business models, enabling them to access more GBA market opportunities including innovative solution trials and adoption in the financial services sector. Hang Seng will also participate in GBA‑themed programmes arranged by Cyberport to share experience and market knowledge with a wider group of companies.

Its 88 years of working in close partnerships with Hong Kong businesses have earned the Bank lasting relationships with enterprises whilst its endless effort last year in digitalisation, omnichannel service enhancement and promoting innovation and sustainability, has won the Hong Kong Business High Flyers Award in the Commercial Bank category.

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