Hang Seng Bank triumphs in banking at HKB Greater Bay Area Enterprise Awards 2024
The bank’s innovation solutions spur growth in the Greater Bay Area (GBA).
Hang Seng Bank has been honoured in the Banking category at the HKB Greater Bay Area Enterprise Awards 2024. The recognition comes for its cutting-edge initiatives that have bolstered its position as a top-tier cash management services provider in the banking industry. The bank’s comprehensive range spans account and deposit management, payment and remittance services, collections and receivable services, which include credit card merchant collection services, cross-boundary liquidity management, as well as digital and cross-boundary solutions.
Amongst the bank’s innovations is the launch of Magic DICE (Digital International Collection solution for e-commerce), a platform that provides a complete cash management package on a subscription basis for e-commerce merchants and platforms. This service is tailored to streamline banking transactions for e-commerce clients and their downstream merchants, offering a full suite of banking solutions designed for the sector.
The innovative platform facilitates various collection channels and enables swift cross-boundary payments between Hong Kong and the mainland. It also delivers efficient solutions for downstream merchant collections and payments, featuring tools like an instant payment tracker, virtual accounts for better financial reconciliation, and virtual commercial cards to improve working capital utilisation.
Hang Seng Bank has also pioneered a commercial banking e-sign service for customers in the mainland, marking a first in the industry. This service revolutionises the way customers sign loan documents and expands the bank’s business banking remote account opening scopes. Now, entities such as sole proprietorships, partnerships, and limited companies established in Hong Kong can open accounts remotely, accommodating up to 10 connected parties.
The bank’s integrated operations in Hong Kong and the mainland, combined with its deep knowledge of local market industries, have enhanced its cross-boundary offerings. These strategic initiatives have positioned the bank to capture a larger market share, especially in the economically vibrant Greater Bay Area, drawing new customers and businesses seeking to leverage the region’s immense growth prospects.
The HKB Greater Bay Area Enterprise Awards is a prestigious event that acknowledges the significant achievements of companies based in Hong Kong and Macau within the Greater Bay Area. The awards commend outstanding initiatives that encourage regional collaboration, investment, and economic development.
The HKB Greater Bay Area Enterprise Awards is presented by Hong Kong Business Magazine. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's initiatives in the Greater Bay Area that foster mutual cooperation, investment, and development, please contact Jane Patiag at [email protected].