livi bank introduces livi Business for Hong Kong’s SME entrepreneurs

By Leandra Monteiro

livi bank, Hong Kong’s lifestyle-driven virtual bank, has announced the soft launch of livi Business as it extends its capabilities to benefit Hong Kong’s underserved small and medium enterprises (‘SMEs’).

livi Business plans to offer a fully automated mobile banking experience that is designed to enable entrepreneurs to take advantage of the latest developments in digital financial services. That experience begins with its market-first capability that enables SME customers to open a new livi Business account in as little as one working day.

Powered by livi’s innovative technology, livi Business provides SME with account opening 24/7 on the livi App without the need for documents, with a simple 20-minute application process. This hassle-free account opening journey saves SMEs the unnecessary time spent on administering banking matters and empowers them to focus on growing their businesses. Helping today’s entrepreneurs who want to manage their banking needs on their mobile phones while on the go.

“livi Business brings the best of livi’s technological capabilities to the SME experience, making banking fast and easy for our business customers. We are excited to introduce our game changing fully-digital account opening journey that addresses the pain-points experienced by SME customers,” said David Sun, livi bank Chief Executive Officer. “With business activity in Hong Kong poised for an upturn, we plan to extend our SME offerings in the coming months in areas such as lending and trade financing. With our vision of supporting financial inclusion, livi Business will empower SMEs to focus on what they do best, building their businesses and driving growth.”

Eve Lin, livi’s Head of Strategy and Segment Management, SME, said, “livi’s SME mobile banking experience is set to disrupt the market as on-the-go entrepreneurs can manage their business and personal accounts all in one app. Our extensive customer research has told us that our SME customers want simple, transparent and reliable banking services. Our experienced SME team understands just how limited current banking offerings are, and it’s our mission to create a new normal by revolutionizing the market.”

livi Business has already onboarded over 100 SME customers following a successful Sandbox trial that was completed in December 2022, and the customer feedback has been positive.