HSBC's sprint targets start-ups

Business | Avery Chen 4 Apr 2019

The Hongkong and Shanghai Banking Corporation has launched HSBC Sprint Account for small businesses and startups established less than three years in Hong Kong and with revenues less than US$3 million (HK$23.4 million.)

Daniel Chan, head of business banking and commercial banking Hong Kong, said the bank recorded high double-digital growth in new business accounts in 2018 with startups accounting 80 percent. Companies can apply for the account online, and complete security checks using selfie verification technology, Chan said.

Meanwhile, Citibank Hong Kong will launch remote account opening services this quarter and expects 20 percent growth in new accounts within a year. The bank also announced a partnership with financial information platform AASTOCKS to provide a cross-platform stock exchange program.

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