The Zhitong Finance App learned that ZA Bank announced a strategic partnership with Huanhui, a local subsidiary of Global Payments (GPN.US), to work together to enhance the digital loan experience. ZA Bank became Huanhui's first virtual banking partner in Hong Kong, providing financing solutions for SMEs through a credit evaluation model.

Under this cooperation, when Hong Kong merchants using the Huanhui e-collection service apply for commercial loans, ZA Bank will use digital technology to simplify the relevant credit evaluation process. By examining the company's actual business activities, it is possible to reflect the credit health status of Huanhui merchants, cooperate with automated loan approval methods, and eliminate the complicated process of submitting documents.

ZA Bank's replacement chief executive, Sin Diwan, said that SMEs play an important role in Hong Kong's economic development, but since traditional credit evaluation models rely on collateral and financial documents, financing difficulties have been a major pain point for a long time. This partnership can harness the power of alternative data to provide simpler credit services to this underserved customer group.