Ping An OneConnect Bank launches pilot project

Ping An OneConnect Bank (Hong Kong) Ltd, a wholly owned subsidiary of OneConnect Financial Technology, announced on Wednesday a pilot project aimed to shake up conventional SME banking services with its virtual banking ecosystem.

For its trials, the bank will invite about 200 small and medium-sized enterprises (SMEs) and approximately 2,000 individual customers in Hong Kong to experience virtual banking services related to account opening, savings, funds transfers and lending.

Selected SME clients can experience hassle-free and speedy account-opening service, with no minimum account balance required.

Apart from that, Ping An OneConnect Bank is also devoted to providing an innovative lending experience to SMEs through “Trade-Connect Loan.”

For individual customers, it provides 24/7 banking services via its retail banking app. By simply using their Hong Kong identity card, customers can open a savings account with no minimum account balance requirement.

Granted a virtual banking licence by the Hong Kong Monetary Authority in May 2019, Ping An OneConnect Bank is developing diverse business segments including retail and SME banking.