Best Credit Risk Technology Implementation in Hong Kong – PAOB

The winning bank has utilised alternative data to streamline the complicated loan approval process. By partnering with a leading provider of Government Electronic Trading Services, the bank leveraged on alternative data to support both credit underwriting and post-lending account monitoring with the conventional credit bureau checks, which significantly reduce the loan approval process. It has registered the fastest record of processing and disbursing approved loans to SME clients in the market. The bank further promoted the financial inclusion in the local market, amongst all the approved cases of the bank, 29% of SMEs failed to obtain loans from other banks and 77% do not have unsecured loans from other banks. In over a year after the initiative was launched, loan assets at the bank reached USD220 million (HKD1.7 billion).

The Best Credit Risk Technology Implementation in Hong Kong goes to Ping An OneConnect Bank (Hong Kong) Limited