BOCHK intensifies blockchain use across retail segment

The lender processes 85% of its mortgage-related property valuations on its digital ledger.

Bank of China Hong Kong is processing 85% of its mortgage-related property valuations on its own digital ledger in line with the central bank’s push for fintech and digital banking models, according to local media reports quoting BOCHK general manager of IT Rocky Cheng Chung ngam.

“In the past, banks and real estate appraisers had to exchange faxes and emails to produce and deliver physical certificates. “Now the process can be done on blockchain in seconds,” Cheng said, adding that a growing number of trade finance deals have been conducted via blockchain tech.

Cheng was speaking at the official opening of the bank’s new ‘smart’ branch set up in Hong Kong Science and Technology Park which offers video-banking services.

“We decided to open a smart branch here, not only because it made operational sense but in the hope of interacting with other technology firms to develop more applicable fintech,” he added.

Also Read

Standard Chartered launches digital request quote module Autoquote

Citi launches Token Services for Cash for institutional clients

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit