How BOCHK empowers SMEs for growth and innovation
- Bank of China (Hong Kong) has upgraded its iGTB MOBILE App, offering SMEs more powerful digital banking solutions to streamline operations
- The "Think FORWARD, Dare to INNOVATE” series, as part of the “Real Boss” campaign, features actor Raymond Wong, showcasing how the app supports SMEs to digitally transform.
[The content of this article has been produced by our advertising partner.]
To stay in the lead and competitive in today’s fast-evolving market, small and medium enterprises (SMEs) must embrace innovation. By doing so, they can seize new opportunities, streamline operations and cut costs.
Bank of China (Hong Kong) (BOCHK) is at the forefront of this digital transformation, offering SMEs comprehensive business banking services designed to help them manage their finances effectively.
Recently upgraded, the bank’s iGTB MOBILE App empowers SME owners with enhanced features and a user-centric interface. It enables them to manage their day-to-day business finances with ease, stay agile in response to market changes, and differentiate themselves from competitors.
As part of the "Real Boss" campaign, the "Think FORWARD, Dare to INNOVATE" series features four stories from five business owners, including actor Raymond Wong, sharing how they have embraced innovation, challenged conventional thinking, and leveraged BOCHK’s cutting-edge digital banking solutions to fuel their success.
How Yue Sang Sea Product, a family-run dried seafood business, embraces digital transformation
Raymond Wong, a renowned actor, also runs Yue Sang Sea Product, a staple in Hong Kong’s dried seafood industry since 1986. Over the past 40 years, the company has navigated changing market conditions by expanding into e-commerce and introducing its own line of snacks and wellness soups.
Today, 40 per cent of their revenue comes from traditional dried seafood, while 60 percent is derived from a growing range of snack products, including nuts, dried fruits and festive treats. To meet the diverse needs of today’s consumers, Yue Sang Sea Product has adopted online marketing strategies, focusing on attracting younger customers.
Despite this digital shift, Wong notes that many customers in the wholesale and retail dried seafood sector still prefer to use cheques for payments. This traditional industry practice inevitably leads to labour-intensive processes for cheque deposits and book-keeping.
The BOCHK's iGTB MOBILE App has, however, reduced the hassle of paperwork and the time involved in processing and depositing cheques.
Thanks to its mobile cheque deposit function, cheques can be scanned and deposited directly through the app, eliminating the need for frequent bank visits. It also provides real-time access to account balances, transaction records and 24x7 availability of monthly statements.
.JPG?itok=osqdmv0w "BOCHK’s iGTB MOBILE App has streamlined cheque processing and deposits for actor Raymond Wong’s family-run dried seafood business.")
Lam Heung Ling, Hong Kong: Secret recipe for expanding business beyond borders
Will Li and Jack Pang are the founders of Lam Heung Ling, Hong Kong, a beverage chain that quickly gained fame for its refreshing hand-shaken lemon tea. In just eight months, the chain expanded to 11 locations across the city, with some stores selling up to 1,600 cups in a single day.
The brand’s success lies in its bold approach to innovation, from introducing new flavours to revolutionising shopfront design. The company also hosted the first-ever hand-shaken lemon tea workshop and designed the iconic “Lam Lemon Boy” eco-friendly cup, all of which generated widespread buzz.
As their business expanded, so did their need for international collaborations. Lam Heung Ling, Hong Kong, is now venturing into overseas markets.
With BOCHK’s iGTB MOBILE App, Will and Jack can monitor exchange rates and execute foreign currency transactions quickly, even while traveling abroad to meet business partners. The app's mobile currency exchange and remittance functions enable timely transactions at the best rates. This has streamlined foreign exchange settlements, boosting their confidence to grow internationally.
,-Will-Li-(right)-(1).jpg?itok=EnSqOnON "With the iGTB MOBILE App, Will Li (right) and Jack Pang (left) can monitor exchange rates and execute foreign currency transactions quickly.")
Christal Leung, with a biochemistry background, took over her family’s beauty business in 2018 and founded the skincare brand Skin Need. Focusing on eco-friendly skincare products, the brand has successfully expanded into international markets through cross-border e-commerce.
Christal has also built her own skincare product lab and frequently engages with her customers by sharing beauty tips through video content. She values banking solutions that cater to the unique needs of SMEs like hers. BOCHK’s iGTB MOBILE App has provided her with exactly that.
As her online store accepts payments in multiple currencies, the iGTB MOBILE App allows her to monitor exchange rates, conduct currency exchanges, and transfer payments to business partners—all with a few taps on her smartphone. This streamlined process has simplified cross-border transactions, allowing Christal to focus on growing her business.
.jpg?itok=letk-eq5 "The iGTB MOBILE App allows Christal Leung to monitor exchange rates, conduct currency exchanges, and transfer payments to business partners with just a few taps.")
Keith Lee, founder of Mobile.Cards, identified a gap in traditional customer relationship management (CRM) systems, where customers were often burdened with physical membership cards and paper vouchers.
To address this gap, he developed an innovative mobile app that allows businesses to digitise their CRM programs. Customers can now collect points, earn stamps, and make reservations directly through their smartphones, reducing administrative costs and boosting customer loyalty.
Having already helped over 1,200 local and international businesses embrace digital transformation, Keith remains focused on improving user experiences. A dedicated user of the BOCHK's iGTB MOBILE App, he values its flexible interface and continuous feature enhancements.
For Keith, the app’s capabilities - ranging from payroll and payments to remittances - have become essential for managing his business efficiently. With just a few clicks, he can even authorise his secretary to handle transactions, allowing him to concentrate on driving innovation and growth for Mobile.Cards.
BOCHK deeply understands the operational needs of local SMEs and offers a wide range of business banking and digital banking services to support their growth. These services include 24x7 online account opening, loan applications, iGTB NET and iGTB MOBILE corporate banking, and BoC Bill electronic payment solutions, enabling seamless handling of local and cross-border transactions.
Elsie Gung, Deputy General Manager of Personal Banking and Wealth Management at BOCHK, notes that with the growing shift towards mobile banking, the iGTB MOBILE App has been extensively upgraded to better meet customer needs.
“We are always there to support SMEs to navigate the ever-changing business environment by providing a comprehensive suite of business banking products and services, empowering them to "Think Forward, Dare to Innovate" in the industries. Our iGTB MOBILE app provides SMEs with the user-centric interface and enhanced features, empowering their day-to-day banking with ease and creating value in their professional circles.” she says.
For example, the app’s newest mobile cheque deposit function allows SMEs to deposit cheques remotely, saving them a great deal of paperwork. For multi-currency transactions, real-time exchange rate monitoring and quick trades ensure precision. Combined with the app’s intuitive design, it acts like a personal assistant for business owners in today's fast-paced environment.
In conclusion, BOCHK’s dedication to innovation and support for SMEs shines through in the success of these entrepreneurs. With flexible, user-friendly digital banking solutions, BOCHK empowers SMEs to stay ahead, embrace new ideas, and achieve lasting success.
.jpg?itok=jqt8aLnz "Elsie Gung, Deputy General Manager of Personal Banking and Wealth Management at BOCHK, explains that as more customers turn to mobile banking, the iGTB MOBILE App has been thoroughly upgraded to meet their needs.")
https://www.bochk.com/dam/smeinone/thinkforward/en.html