Tricor launches IPO Smart Pay supported by HSBC in Hong Kong

By Edil Corneille

Hong Kong’s Tricor Group, a business expansion specialist in Asia, announced the launch of Tricor IPO Smart Pay (IPO Smart Pay) as supported by HSBC’s real-time direct debit solution. IPO Smart Pay is a new feature added to the Tricor IPO APP, a white form e-IPO APP rolled out in October 2019.

The launch of IPO Smart Pay on the APP further enhances its user-friendliness by offering a fast and secured payment method for IPO applications. Tricor IPO Smart Pay will only debit monies automatically and securely from the investor’s designated account on the IPO closing date. Investors are allowed to cancel and resubmit their applications anytime before the closing date. The APP also charges no application and service fee.

“The successful launch of the Tricor IPO APP last year has set new standards and delivered a brand new digital IPO experience to both issuers and investors,” said Joe Wan, CEO of Tricor Hong Kong. “This year, with the support from our important partner HSBC, we are excited to incorporate the cutting-edge payment technology into the APP, turning it into a perfect solution for online IPO application.

“We at Tricor always stay at the forefront of the industry, and we see digitalisation as one of the irreversible trends. The adoption of digital processes not only helps companies improve operational efficiency but also enhances corporate governance, which is paramount for sustainable business operations…” Wan added.

“The continuous introduction of new technologies to the Hong Kong securities market has led to the long anticipated advent of electronic IPO. Electronic IPO platforms have emerged and brought a number of benefits such as more environmentally friendly business practices and optimisation of workflows,” explained Pamela Chung, Managing Director & Head of IPO, Tricor Hong Kong. “…Taking care of public investors’ needs under the Covid-19 new normal is one of our IPO service priorities, especially when HKEX has now issued a consultation paper on paperless listing and subscription mechanism…”

Catharine Wong, Managing Director – Head of Share Registry & Issuer Services, Tricor Hong Kong said, “…Our initiative to further digitise the IPO process works well with other major market developments like FINI to facilitate efficient subscriptions. We also understand that privacy and data protection is extremely vital to get users buy-in. Mindful of this, when developing these new enhanced features, we have carefully reviewed every step and strictly ensured that only those need-to-have information under the current regulations are collected, and the direct debit information is being handled by the customers’ own banks with the highest protection of customer’s data. In addition, we have employed multi-layer security and full failover protection so that sensitive and confidential information remain as the domain of our valued customers. Now in conjunction with our auto payment method supported by HSBC, investors can enjoy a new end-to-end digital IPO experience with complete peace-of-mind operation.”

Wallace Lam, Head of Corporate, Commercial Banking, Hong Kong, HSBC said, “Digitisation has become a must-have for different sectors. HSBC is pleased to provide an innovative cash management API solution for Tricor IPO Smart Pay, elevating the IPO subscription journey for retail investors in Hong Kong and helping them capture investment opportunities with greater convenience. Our solution also greatly enhances the efficiency of IPO subscription process and operational workflow, reaffirming our ongoing commitment to support corporate clients in their digital transformation journey.”