“We have the customer base, we have the reach but we don’t have the platform,” Ang, 70, said in an interview.
(Sept 13): Singapore’s Hong Leong Finance sees the country’s plan to issue virtual banking licences as an opportunity to find new customers and re-invent itself as a tech-savvy lender to the nation’s new businesses.
The firm, founded in 1961, has been in talks with financial-technology companies about a joint application for one of the licences, according to President Ang Tang Chor. It wants to find a partner that will help it apply technology to its lending decisions, with a view to doing more business with millennials and newly established firms.
