ZA Bank & Global Payments: Enhancing Digital Lending

Streamlining the credit assessment process

Through its partnership with Global Payments, ZA Bank is set to digitise and streamline the credit assessment process for business loan applications from Global Payments’ merchants in Hong Kong. 

By looking at the company’s actual business activities, the automated loan decisioning approach reflects the credit health of Global Payments’ merchants without the need to endure the hassle of tedious document submissions.

“SMEs play a vital role in supporting Hong Kong’s economic growth, yet access to funding has been a major pain point in the traditional credit scoring model which relies on collaterals and financial documentation,” explains Devon Sin, Alternate Chief Executive at ZA Bank.

“We’re pleased to join hands with Global Payments to cover this underserved segment, leveraging the power of alternative data to offer more convenient access to credit facilities with a seamless and customised banking experience of the future.

“By leveraging Global Payments’ extensive merchant network, we seek to provide timely support to the SME community and unleash their growth potential in this challenging business environment.”

******

Check out the latest edition of FinTech Magazine and sign up to our global conference series – FinTech LIVE 2024

******

FinTech Magazine is a BizClik brand.

spot_img

More from this stream

Recomended

‘Willi Candra Appointed Chief Digital and Tech Officer at Conair’

Conair is focusing on its digital capabilities, adding Willi Candra to its leadership team as its chief digital and technology officer. The newly created role follows a...

Benefits of Choosing Circle Over Tether in Proposed U.S. Stablecoin Regulations

"This is very much oriented towards a U.S.-regulated company, and so...

“An Important Earth Day Discussion on 1Thing with The Nature Conservancy”

Audacy’s Corinna Delgado sat down for a very important Earth Day conversation with The Nature Conservancy CEO Jennifer Morris and Program Coordinator Morgan Foster to talk about the importance of...

Test-driving Lucid’s 2024 Air models and previewing the future ‘Mid-Size’ EVs

In addition to our recent drive of the Lucid Air Sapphire, we got the opportunity to test drive all of the American automaker’s 2024 models, including Pure, Touring, and Grand Touring, and have...

Swell ETH Restaking Fund Launched in Collaboration with DeSyn Protocol

DeSyn Protocol joins Swell to introduce a disruptive financial product that aims to change the manner people invest in decentralized finance. Powered by DeSyn Protocol’s cutting-edge technology, the...

‘Major Token Launchpad Revealed by Binance’

Binance is launching Binance Megadrop, a token launch platform that merges airdrops with interactive web3 quests to enhance user engagement and provide exclusive access to new web3 tokens.  The...