Execution

Technology and risk management capabilities development started from 2013 Branding campaign (Main launch) at 2016

The Campaign

Our idea is to empower loaners with faster, cheaper, transparent, automated online loan application. All applications and verifications are done online, without interacting with a human staff. We are the first lender in Hong Kong without branch, moving identity verification and fund release online. Replacing human with automation drastically speed up the application and cut down cost, which allows us to give back attractive interest rate to applicants. Also this avoids the cultural sensitivity of shame and judgement to loaners rooted in Chinese culture. After delivering a faster, respectful and cheaper loan, we to be transparent to loaners in each stage of the progress. Mobile technology is used to report each step proactively, so our applicants have a peace of mind on what to expect, or plan for alternates early otherwise.

Creative Execution

Our website = branch; SEM and data-powered PPCs = sales force Our site is designed for smooth step-by-step application. Credit history check is done with FinTech engine in real-time, initial result is released instantly. The on-going progress will be reported to applicants via SMS. Identity verification is done via face recognition. Applicants only need to take a selfie holding their photo ID for verification. Mobile application is seamless and save time and embarrassment VS traditional face-to-face verification. UIUX tested and optimized with Session Cam, Mouseflow and Google Optimize Acquisition uses 1st party data on web analytics, agency’s search trend data, SEM and Facebook competition metrics to identify surprising moments of highest loan demands. PPC budget are coordinated towards these occasion. Instead of ads that bombard users all time, our “ad as service” approach place helpful message at the correct, relevant moment when loan is in need. Facebook API connects to application engine. Users only need to submit required loan amount and repay period on FB ad, the rest of personal particulars are auto captured from FB. Application is passed from Facebook to engine real time, just 2 information to fill, turning Facebook ad into a shorter application channel than website.

Our product received recognition and stood out. Ranked as #6 in China and #33 globally in KPMG’s FinTech Report, Top 100 FinTech companies in the world. Ranked as #7, the Most Well-funded VC Backed Tech Companies in AP by CB Insights. And The Asian Banker Innovation Leadership Achievement Award from The Asian Banker. We have also filed for an initial public offering on the Hong Kong Stock Exchange, showing our significant growth. We moved up from a late joiner amongst pre-dominant lenders to role model – a brand with highly similar proposition, communication and offering was launched in mid 2017, proves we has created an online loan category successfully and attracted new brand to share the pie. Further the pre-dominant lenders are transforming their online loan offering to follow our model, proving our success in revolutionizing the loan market and ultimately delivering more options for consumers to choose from.

We revolutionize Hong Kong personal loan category, that loan application and approval is now fast and transparent. By the use of FinTech and various mobile technologies in loan approval process, and integrating 1st party and 3rd party data to fuel marketing, We win over traditional lenders in market that enjoy the benefit of status quo, and forced competitors to follow by creating copy-cats. The landscape of personal loan in Hong Kong is changed since then, and consumers can now enjoy a faster, more transparent experience when they need cash.