(27 Oct 2020 – Hong Kong) In Mar 2020, we signed a MOU with global financial data guru Refinitiv. After months of discussion and development, we now officially launch a brand-new corporate loan market information service. This unprecedented collaboration between a giant corporate and fintech startup is a significant event for Hong Kong as an international financial centre.
FinMonster, since the foundation in 2019, is committed to assisting enterprises in making financing smooth, stable and swift. In the meantime, we strive to facilitate the operation of licensed bank to allow more SME to benefit from the banking support. Even under the pandemic situation, we keep assisting enterprises to survive the economic downturn. The financing support, facilitated by FinMonster, to enterprises not only save their long developed business from liquidity crunch, but also keep the job of staff working behind the business.
Our vision has always been the same. Under global economic downturn, FinMonster has been working day and night under the Covid-19 because we know how crucial the financing support to business is. More than that, FinMonster opened our platform for FREE to SME in Q2 and further invest additional resources during April to June to help SME handling the financing application supported by the government. Using technology to make SME financing easier is our fundamental drive to found FinMonster.
Given the unstable corporate financing environment, corporate borrowers understandably find it hard to predict the risk appetite of banks. Information asymmetry not only cause borrower to spend a long time on sourcing, it also causes the higher cost of the borrowing which is a potential cashflow threat in future.
Refinitiv was part of financial information giant Thomson Reuters. It recently spun off from Thomson Reuters to be an independent financial data technology company serving 190 countries. The depth and volume in financial technology makes Refinitiv’s position in the financial data sector unchallengeable. Her clients include sovereign funds and global banks. FinMonster incorporated Refinitiv data into its own platform providing enterprises the market information including interest rate, tenor, participating bank, etc. The function will enhance the market transparency and allow enterprises to make a fair and quick financing decision.
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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.