Hong Kong Monetary Authority is to allow banks in the city to offer a share of their personal loans to online or mobile phone applicants, without them having to seek proof of income or address from applicants. Photo: Alamy Stock Photo

HKMA to waive proof of income and address for online, mobile loans

Under a new guideline, banks can now collect other big data or information to fully access the credit risk of internet and phone applications

Topic |   Hong Kong Monetary Authority (HKMA)

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Hong Kong Monetary Authority is to allow banks in the city to offer a share of their personal loans to online or mobile phone applicants, without them having to seek proof of income or address from applicants. Photo: Alamy Stock Photo
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