(11 March, 2020 – Hong Kong) Eureka Holding Limited (“FinMonster”) is pleased to announce that it has signed a memorandum of understanding (MOU) with Refinitiv. This MOU establishes a Strategic Alliance to enhance FinMonster’s platform with market intelligence on the primary and secondary loan markets delivered by Refinitiv LPC. FinMonster is designed both to help businesses make informed and timely financing decisions, and to help banks efficiently expand their SME banking market share. (continue reading)
One of the most panic questions to business owner is the processing time of business financing generally take longer time than the business financing needs. In traditional commercial banks, the average time to funding of Corporate Lending (a general business financing term including SME financing) is generally around Three Months. The time to funding count from the financing application to funding deposited to bank account. From an experienced banker point of view, these processing cycle make sense as data collection, KYC, industry research, data verification, internal credit proposal parathion, credit approval negotiation and account opening all need time to process. From business owner perspective, these times is unacceptable as business needs change quickly and seldom has business can foresee the financing needs prior three months ago.(continue reading)
The outbreak of coronavirus has plagued all companies from start-ups, SMEs to corporates. When the going gets tough, the tough get going. As a newly Cyberport on-site incubatee, FinMonster will get through all the difficulties and help SMEs get better banking support through simplified loan origination progress and reduced credit risk. To echo our saying in Blog earlier, our disruptive mindset is to break through and make a better world.
Writer was exactly a Standard Chartered staff back to 2009. The only feeling of mine about the sponsorship to Liverpool is “Gosh, my year-end bonus is gone”. I believe a lot of people had similar feeling back on that day as year-end bonus substantially contributed the total compensation in banking back to the old day. Today, my feeling to the sponsorship is “Standard Chartered is the winner of recent Liverpool dominated global football era”. How Standard Chartered could make a good deal and foresee Liverpool would get a premier league champion and entitled a UEFA Champions League winner after 10 years? (continue reading)
With the escalation of the anti-extradition bill protest, some members of the community are advocating a public octopus strike to boycott the MTR Corporation. However, except for taxi, octopus seems to be the only electronic payment method available for most forms of transport in Hong Kong. This raises several questions: 1) There are many electronic payment methods in Hong Kong, including but limited to credit cards, Apple pay, Alipay, etc., but why the octopus is still the only solution to transportation payment, leaving alone cash? Meanwhile, Hong Kong as an international financial center, why many small shops and vendors still accept cash only, leaving not much sign of a “cashless society”? Recently, with the official launch of the Faster Payment System (FPS), Hong Kong seems to have taken a big step forward, but will it be enough to keep up with its foreign neighbors? (continue reading……)
Thanks to the Hong Kong Trade Development Council, we are delighted to be one of the exhibitors at the Asian Financial Forum from 13-14 January 2020. It is a golden opportunity for potential investors to know more about FinMonster’s services and visions.
FinMonster will attend the biggest event of financial industry in Hong Kong for the first time. We will join as exhibitor in FintechHK Startup Salon with booth number 5C-A20. FinMonster is honored to attend as one of the exhibitors and will be speaking in InnoVenture Salon Pitching on January 13. For those who are interested may come to this event to learn more about FinMonster’s mission in corporate banking fintech and the latest market news. Detail is stated in the poster. (continue reading….)
At the end of the day, the answer of the question “virtual banks: to be or not to be? to benefit or not to benefit?” depends on whether they can make the most of technology to tackle the pain points of the current financing banking system. The question follows then that is: are we solving a purely technical problem or a system one? If it is a system issue, can virtual banks generate additional value? If not, why would Hong Kong people open virtual bank accounts when they already own traditional or even electronic banking accounts? If not, are we setting up virtual banks just for the sake of it? (continue reading……)
The journey to Hong Kong’s bright future is long and rugged, but FinMonster still believes that — tomorrow will be better and 2020 will be another fulfilling year…… (continue reading……)
You may be familiar with this banking experience: people jostling one another, snakelike queues moving slowly and staff unhurriedly handling paper documents. For most people, this probably won’t be a pleasant experience. But have you ever wondered why we have to go to a branch banking in person, hand over stacks of paper documents and wait for the enduring review process?……(continue reading)