Standard Chartered Bank (Hong Kong) Limited today announced its collaboration with Linklogis, a leading supply chain finance technology solution provider, for the development of tailored lending solutions to support small and medium-sized enterprises (SMEs) in their e-commerce endeavours.
Through this collaboration, Standard Chartered Hong Kong will gain access to real-time Amazon data from Linklogis, provided with consent from clients, on relevant metrics such as merchants’ sales performance and refund rates. This data will help Standard Chartered Hong Kong maintain a holistic and up-to-date view of a merchant’s business performance for credit assessments, thereby streamlining the extension of appropriate credit facilities.
Since the Amazon platform data will be used, Standard Chartered Hong Kong’s SME clients who are selling on Amazon’s platform can expect faster loan application processes with less physical documentation needed. Eligible SMEs can be offered up to USD1 million of overdraft facility.
To empower SME clients to grasp growth opportunities, Standard Chartered SME Banking is hosting a SME seminar “Empowering your e-commerce performance with strategic financial solutions” (“the SME Seminar”) today. The event brings together a range of industry experts to provide local SMEs operating in the e-commerce sector with the latest insights.
Stephen Man, Head of Wealth and Retail Banking, Standard Chartered Hong Kong, said:
“SMEs constitute a significant part of Hong Kong’s economy and are an important client segment for the bank. As the banking partner to this business community we hope to grow with our clients and meet their needs around digital transformation for the new economy. That’s why we are joining forces with Linklogis, to launch an e-commerce financing solution for SMEs, leveraging their commercial data on Amazon to streamline the loan application process. This will enable clients to quickly and efficiently access financing to support a sustainable business growth.”
SME clients who get approved under Standard Chartered Hong Kong’s latest e-commerce lending solution on or before 30 September 2024 can enjoy HKD5,000 in shopping vouchers. In addition, an extra HKD1,000 cash rebate may also be enjoyed by e-commerce merchants who open a business account with Standard Chartered Hong Kong on or before 30 September 2024 and maintain deposits of USD500,000 or above for 6 months starting from the account opening date.
