Hong Kong’s Airstar Bank pilots corporate banking services for SMEs | Asian Banking & Finance - The Latest News, Headlines, Insight, Commentary & Analysis
,Hong Kong

Hong Kong’s Airstar Bank pilots corporate banking services for SMEs

The pilot trial is open to 100 small and medium enterprises.

Airstar Bank has entered the pilot launch of its corporate banking services for small and medium enterprises (SMEs) through the Fintech Supervisory Sandbox administered by the Hong Kong Monetary Authority, the bank announced in a press release.

The pilot trial is open to 100 SMEs, and aims for greater participation to include SMEs from different sectors.

They can also enjoy full waivers of account opening fee and monthly management fee, Airstar Bank added. They don’t have to worry about maintaining a balance as the streamlined corporate account has no minimum balance requirement.

Chosen participants of the pilot trial will be entitled to a 1% per annum interest rate for the first HK$1m placed at savings deposit account between the start of the trial period and until 31 December 2021. The interest is reportedly 1,000 times higher than business accounts with traditional banks, Airstar Bank claimed.

 Participating SMEs can also enjoy an extra reward of HK$1,000 upon successful activation of their corporate internet banking account, and the completion of particular fund transfers with Airstar’s corporate account.

SMEs interested in participating in the regulatory sandbox can register online at Airstar Bank Corporate Banking SME Service website as trial users. Applicants and connected parties who are holding a Personal Banking Account at Airstar Bank can open a “Streamlined Corporate Account” via remote on-boarding service.

Get Asian Banking & Finance - The Latest News, Headlines, Insight, Commentary & Analysis in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Banks have to remain consistent and continuous in testing best practices.
Shares were priced at the top end, at KRW39,000 ($34).
In January, 1.2 million transactions were carried out via the SGQR.
Its launch will require legal changes to the nation’s foreign exchange and IT rules.
But less than half of consumers are impressed with the digital financial services currently offered.
Treasury teams can mobilize liquidity and fund intraday payments in real-time.
Customers have the option to pay their tax balances in full or partially.
About 750 new accounts have been opened in four APAC markets through the new portal.
UnionDigital will be a wholly-owned subsidiary of the Philippine lender.
SmartStream’s Peter Hainz and Amazon Web Services’ Anna Green shared their insights on the advantages of on-demand and highly scalable cloud environments for banks and other financial institutions, as well as the factors hindering its adoption in the region.
This August, the Asian Banking & Finance and SAP will provide insights on the evolving landscape for ESG in financial services.
Thirteen lenders noted that demand was moderately weaker than the preceding 3-month period.
Investors will likely seek signs that private lenders will be able to step up lending once COVID subsides.
It opens up new revenue models and lowers the cost-to-serve.