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Fusion Bank launches business banking for SMEs
Service leverages advanced AI, cloud-based tech to help capture global opportunities
The Asset 22 Mar 2023

Virtual lender Fusion Bank, strategically invested by Tencent Holdings, has launched its business banking service to provide flexible and convenient internet banking services to local small and medium-sized enterprises (SMEs), empowering them to expand their businesses.

Services include multi-currency savings accounts, time deposits, local transfers via the Faster Payment System and CHATS, and telegraphic transfers cross-border remittance services covering countries and regions around the world, to help customers to deploy their funds flexibly and meet the round-the-clock business needs in today’s digital economy and expand their businesses overseas

Leveraging advanced artificial intelligence (AI) and cloud-based technologies, the service, the bank says, provides customers with a more seamless, secure banking experience, including online smart customer services to handle enquiries in real time, as well as the adoption of electronic know-your-customer identity authentication technology jointly developed by Tencent and the bank, which substantially  improves the accuracy of facial and image recognition.

“As more SMEs are undergoing digitalization, their business operations and expectations for financial services are also evolving,” says Ari Zhou, the bank’s executive director and chief executive. “By leveraging our innovative technology, we are committed to offering businesses convenient and comprehensive internet banking services, together with a hassle-free account opening experience, fostering financial inclusion in Hong Kong and empowering SMEs to manage finances easily and expand their businesses locally and globally.”

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