ZA Bank becomes Global Payment Network's (GPN.US) first virtual banking partner to provide financing solutions for small and medium-sized enterprises in Hong Kong.

11:17 23/02/2024

ZA Bank announces a strategic partnership with Envoy, a local subsidiary of Global Payments (GPN.US), to enhance digital lending experience.

ZA Bank announced a strategic partnership with Envoy, a local subsidiary of Global Payments (GPN.US), to enhance the digital lending experience. ZA Bank becomes Envoy's first virtual banking partner in Hong Kong, providing financing solutions for small and medium-sized enterprises through credit assessment models. Under this partnership, when Hong Kong merchants using Envoy's electronic payment services apply for commercial loans, ZA Bank will simplify the credit assessment process using digital technology. By examining the actual business activities of the company, the credit health of Envoy merchants can be reflected. With automated loan approval processes, the tedious process of submitting documents is eliminated. The acting CEO of ZA Bank, Rockson Hsien, stated that small and medium-sized enterprises play a crucial role in Hong Kong's economic development, but traditional credit assessment models relying on collateral and financial documents have been a long-standing pain point. This partnership leverages the power of alternative data to provide a more convenient credit service for this underserved customer group.

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100 billion is simply not enough to distribute! Investors are rushing to add to Anthropic, and the frenzy of oversubscription is pushing funding to 20 billion US dollars.

The Federal Reserve's Daly warns of vulnerability in the labor market, says it may be necessary to cut interest rates one to two more times this year.