Hang Seng Bank beefs up fintech capabilities in Tencent tie-up

They will develop a remote account-opening solution.

Hang Seng Bank has forged a strategic partnership with Tencent to leverage the Chinese tech giant’s formidable IT expertise particularly in AI, machine learning and blockchain, according to a statement.

The collaboration will focus on technology application and retail payment services to enhance overall customer experience and operational efficiency.

Also read: Hang Seng Bank launches all-in-one merchant payment collection service

One such effort is the development of a remote account-opening solution enabling Hang Seng personal accounts to be opened online via a Weixin Mini Programme that will be developed by the bank.

Hang Seng will also provide a merchant-acquiring service for Weixin Pay and WeChat Pay HK that will enable customers to use Weixin Pay or WeChat Pay HK to make mobile payments at designated merchants in Hong Kong.

“This collaboration will help both firms provide Hong Kong and mainland China customers with a growing range of efficient and convenient services that meet their evolving needs,” Gilbert Lee, head of strategy & planning and chief of staff to CE of Hang Seng said in a statement.