Hong Kong’s Virtual Banking Platform, ZA Bank, Upgrades Loan Service

Hong Kong’s leading digital banking platform, ZA Bank, announced this week that starting from November 4, 2021, new users are able to get their loan application approval results  “instantly via ZA Bank’s official website, enjoying a seamless and convenient digital finance experience.”

As mentioned in an update shared with Crowdfund Insider, the upgraded experience will “beat popular lending services in the market.”

To receive the preliminary approval results in an immediate manner, applicants only have to “visit the ‘Borrow’ page on ZA Bank’s website, click ‘Apply Now,’ and then enter basic personal information,” the announcement explained.

The entire journey will take place on a single website, where an application can be “completed in as fast as 90 seconds without the need to submit any proof documents,” according to a release.

Devon Sin, Co-Head of Retailing Banking at ZA Bank, stated:

“In most cases, loan applicants would expect to know the maximum loan amount or interest rate approved by banks as soon as possible. Yet currently some banks require new customers to submit proof documents as part of a time-consuming approval process.”

Sin added:

“That is why ZA Bank decided to go the extra mile by eliminating the complicated procedures of app download and ID card scanning at the pre-approval stage, making the approval process faster than making a cup of instant noodles. This marks another breakthrough in the local banking industry, and once again shows our determination to be the ‘Game Changer’. Even for just a one-second difference, we hope to help users save time with a loan application process which is smoother and more effective.”

In addition to current loan offers, applicants are able to get an extra HKD 100 Deliveroo coupon by applying for ZA Bank’s loans and “receiving the approval result via the official website.”

The announcement further noted that starting from November 4, 2021, and until 31 March 2022, applicants will “receive the Deliveroo coupon by viewing the preliminary approval result in the ZA Bank App within 24 hours after the result is released on the website.”

For additional information about the instant-approval loan service, you may check out: https://bank.za.group/hk/loan.

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