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livi bank offers financing products and enables account opening for Mainland visitors in Hong Kong

Publish date: 04 April 2022

livi bank, Hong Kong’s leading lifestyle-driven virtual bank, has unveiled an aggressive new growth track with innovative expansion into new customer segments. With its latest initiatives, it is having new financing products that serve its customers’ financial needs both in their personal and business lives, and it has added the capability to enable Mainland visitors in Hong Kong to benefit from livi’s services.

livi bank Chief Executive David Sun said, “We are working at an exponential rate to exceed our customer expectations by expanding the scope of our offerings into new segments. This follows a strong year of growth in 2021, where livi’s range of payment options, market-first buy-now-pay-later facility, and internationally recognised livi App gained broad customer acceptance.

“We are determined to capitalise on our customer-centric business model, agile development process, quick go-to-market strategies and unique shareholder support as we ramp up our innovative product development and expand into new customer segments.”

livi has added three key products and services to its portfolio:

Franchise Financing Solutions are offered by livi for individuals who enter into the SME sector in Hong Kong. livi is supporting the entrepreneurial aspirations of its customers by providing exclusive financing opportunities to franchisees and potential franchisees of 7- Eleven, the City’s largest convenience store chain. By doing so, livi is leveraging its relationship with 7-Eleven operator DFI, a subsidiary of a major shareholder Jardine Matheson. Budding local entrepreneurs can avoid the challenges of traditional funding channels when applying for a loan with a tenor up to 60 months that helps to generate cash flow through early financing. Simple documentation, flexible repayment solutions, easy access to credit and a tailored underwriting model provides customers with an unrivalled financing solution exclusive to livi.

Policy Financing is introduced by livi in a move to support individual customers for their personal and business needs. Introduced in partnership with BOC Life, Sun Life and China Life, livi can help to release value and enhance the yield on customers’ locked resources. This simple and flexible financing solution offers customers who have fully paid single premium life insurance policies another option to obtain funding to achieve their goals. Eligible customers may be granted with a loan in a speedy manner, and at low interest rates.

Account Opening for Mainland Visitors in Hong Kong is made available by livi, as one of the first banks to offer this capability. In a move by livi that represents a potentially significant development opportunity, the Bank has extended an account opening capability for Mainland visitors in Hong Kong. Customers can now also remit money from their bank accounts to their livi account, and be able to enjoy the features and offers on the livi App.

“Our offerings will benefit both individual customers and smaller entrepreneurs, and are sympathetically tailored to their individual needs. They also demonstrate the value of our collaboration with our shareholders’ businesses,” said livi bank Chief Executive David Sun. “With our Mainland visitors account opening capability, we are poised to service an expanding customer base, giving us further scope to create more innovative products.”

“Our growing product line-up not only shows our significant investment in our business development, but it also aligns with livi’s vision to support the community and promote financial inclusion, especially in this challenging environment,” said David Sun. “There will be more new products to come in the coming months as our team works creatively to enhance our offerings.”