HSBC becomes first bank to utilise iAM Smart Step-up Authentication to streamline SME lending
HSBC has become the first bank in Hong Kong to utilise “iAM Smart” Step-up Authentication, offering a more seamless, fully digital financing experience for small and medium-sized enterprises (SMEs).
With the adoption of “iAM Smart” Step-Up Authentication, authorised signatories of eligible SME customers now have access to an additional, secure method to verify their identity and approve loan applications directly on the HSBC HK Business Express mobile app. The Step-up Authentication function of “iAM Smart” provides real‑time identity verification for critical online service processes or operations by capturing a selfie for facial recognition. This option adds to existing verification methods, including using Hong Kong identity cards or mobile security keys, providing greater flexibility and convenience for SMEs.
Accessible via HSBC Business Internet Banking, the Bank’s digital lending platform leverages data analytics to simplify loan applications and accelerate credit assessments for SME customers. The adoption of “iAM Smart” Step-Up Authentication further supports efforts to enhance the efficiency of SME financing.
Christina Ong, Managing Director, Head of Business Banking, Commercial Banking, Hong Kong, HSBC, said, “We are pleased to be the first bank in Hong Kong to introduce a use case for ‘iAM Smart’ Step-up Authentication. Our goal is to deliver a fully digital, data-driven experience to make SME financing faster, more personalised, and transparent. With more than half of Hong Kong’s population are now registered users of ‘iAM Smart’1, incorporating this widely used option for identity verification allows us to reach our customers where they are, integrating banking seamlessly into their existing digital routines. The new feature reflects our commitment to collaborate with various stakeholders and harness diverse data to transform SME lending.”
HSBC’s digital lending platform currently accepts applications for Business Instalment Loans, InnoTech Business Instalment Loans and Business Instalment Loan under the SME Financing Guarantee Scheme with 90% guarantee. By integrating internal and external data insights, it enables pre-filled application forms and delivers faster, more personalised credit decisions. More loan products will be added to the platform in phases, catering to businesses with different working capital needs.
HSBC continues to support SME customers with data-led initiatives. It is among the first banks in Hong Kong to connect with the Companies Registry through the Hong Kong Monetary Authority's Commercial Data Interchange (CDI) platform, streamlining online account opening for SMEs. The Bank also participates in the Interbank Account Data Sharing (IADS) programme and has introduced a consolidated account view feature. This allows SMEs to access and view their bank account information across different banks through Business Internet Banking.
Demonstration of iAM Smart Step- up Authentication for SME loan application:
Step 1: The requestor submits the product application through Business Internet Banking.
Step 2: The authorised signatories of SME customer will receive an SMS notification about the application, directing them to the HSBC HK Business Express mobile app.
Step 3: The authorised signatories are required to input their details for verification. iAM Smart will be available as an additional option for Hong Kong identity card holders.
Step 4: Once the inputted details match the bank records, the authorised signatories’ Hong Kong identity card number will be sent to iAM Smart for verification.
Step 5: In the "iAM Smart" application, the authorised signatories will need to capture a selfie. iAM Smart will then apply "Step-Up Authentication" using facial recognition for verification.
Step 6: After successful verification, the authorised signatories can proceed to review the application document and approve the lending application.
- According to iAM Smart’s official website, registered users exceeded 4 million as of December 2025.
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The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 57 countries and territories. With assets of US$3,234bn at 30 September 2025, HSBC is one of the world’s largest banking and financial services organisations.