Fusion Bank has announced its partnership with WeBank in order to strengthen the development of the Greater Bay Area and offer new business opportunities to SMEs. Following this announcement, the financial institutions will combine their suite of services, technologies, and expertise to strengthen the cooperation between Shenzhen and Hong Kong through the process of integrated development of fintech in the Greater Bay Area.

Furthermore, the procedure will take place through technology exchanges, as well as an overall improvement of the way small and medium-sized enterprises (SMEs) expand their business opportunities. Fusion Bank will leverage the products of WeBank, in addition to its expertise and experience in the field of digital inclusive finance. The companies aim to independently design new optimised and secure financial technologies and to apply them to financial cooperation scenarios in the region.

This is set to take place while developing multiple financial products and tools that will be used to meet the needs, preferences, and demands of their customers and to address the pain points, challenges, and difficulties that small businesses face in the industry. Clients will be given the possibility to leverage online, secure, and efficient banking services and solutions, such as deposit, currency exchange, fund investment, or remittance. The partnership will prioritise the process of connecting and integrating the development of the Greater Bay Area, while making sure the companies remain compliant with the requirements and the laws of the industry.

Fusion Bank’s recent partnerships and launches Hong Kong-based virtual bank that provides its clients and partners with multiple financial services and products, Fusion Bank announced several launches and deals in the last couple of months, covering different geographic areas around the world. In March 2023, the financial institution officially launched new commercial banking solutions in order to deliver local small and medium-sized enterprises (SMEs) flexible, secure, and convenient online banking products. The new tools were designed to improve the manner in which small companies expanded and developed their overall businesses.

Following this launch, enterprises were enabled to open a business account online at any time or any place they needed, with only 24 hours of approval for the account opening process. This aimed to save time and resources on the procedure, so the companies could focus on their businesses. Earlier in January 2023, Fusion Bank signed a memorandum of understanding with two other fintech companies to promote the popularisation of digital assets, as well as blockchain technology.

The firms were set to combine their experience and technical advantages to increase technology empowerment in the financial solution sector. This included further optimisation for the e-Know Your Customer (eKYC) technology providers, an improved account opening experience, as well as stronger technical support in eKYC for partners. .