(11 March, 2020 – Hong Kong) Eureka Holding Limited (“FinMonster”) is pleased to announce that it has signed a memorandum of understanding (MOU) with Refinitiv. This MOU establishes a Strategic Alliance to enhance FinMonster’s platform with market intelligence on the primary and secondary loan markets delivered by Refinitiv LPC. FinMonster is designed both to help businesses make informed and timely financing decisions, and to help banks efficiently expand their SME banking market share.
Serving the traditional small and medium-sized enterprise (SME) and corporate banking market can be costly and inefficient for lenders. As a result, banks have to limit their reach into this potentially lucrative lending sector. And as a result, borrowers are forced to choose amongst a very limited set of accessible lending sources and do so with minimal market intelligence.
FinMonster aims to provide a better financing experience for banks and borrowers by offering price comparison and matching services. The platform simultaneously reduces the cost of operation and customer acquisition for lenders and provides greater access to potentially cheaper funding for borrowers. It delivers low-cost digital services and market transparency via Refinitiv LPC market data.
About Eureka Holding Limited (“FinMonster”)
FinMonster is a Corporate Banking focused Fintech allowing Corporate Customers to reach the right banker through our proprietary algorithm to obtain a lower cost financing in much shorter time. Founded by Corporate Bankers, the team of FinMonster understands that wherever they are, SMEs may sometimes find the banking world hard to navigate and often confine their use of corporate banking services to account opening.
The existing practice of Corporate Banking frequently incurs various mismatching between corporate and banks with low transparency of the offering price. Thus, a first-of-its-kind FinTech platform in Hong Kong was established by FinMonster to facilitate the matching and communication between business and banks in order to improve operation efficiency and information transparency. This marketplace is similar to an ecosystem idea proposed by McKinsey in June 2019.
About Refinitiv and Refinitiv LPC
Refinitiv is a global provider of financial and business data, including deal information on the global primary and secondary loan markets. It provides analytics, trading and risk assessment tools so bankers and corporates can perform business duties smarter and faster.
Serving more than 40,000 institutions in approximately 190 countries, Refinitiv provides information, insights and technology that drive innovation and performance in global financial markets. Our heritage of integrity enables our customers to make critical decisions with confidence while our best-in-class data and cutting-edge technologies enable greater opportunity.
We enable the financial community to trade smarter and faster, overcome regulatory challenges, and scale intelligently.
Refinitiv LPC is the premier global provider of information on the syndicated loan market. Our first-to-the-market news, comprehensive real-time and historic data helps industry players stay informed about market trends and facilitate trading and investment decisions.
Our publications, online news, analysis, valuation services and interactive databases are used every day by banks, asset managers, law firms, regulators, corporations and others to drive valuation, syndication, trading, and research and portfolio management activities.
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FinMonster provides a one-stop platform for Corporates to quickly obtain suitable banking support and compare the best prices. We regularly share the latest banking and FinTech trends, as well as quick tips like info pack that helps SMEs financing. Stay tuned with our website and Facebook.