Bindo Labs – the parent company and developer of Wonder, a leading payments gateway and FinTech platform for merchants in Hong Kong, announced its collaboration with Generali Hong Kong, a member of Generali Group, one of the largest integrated insurance and asset management groups, to digitalise payments acceptance for insurance premium collections from policyholders in Hong Kong.
The strategic collaboration between Wonder, Generali Hong Kong and Citi will link premium collections with policy statuses through automated payments reconciliation and digital payment methods. The solution will both, accelerate insurance policy underwriting growth and improve operational efficiency, as well as enhance the overall customer experience by offering greater convenience.
This collaboration marks the first time a global insurance company in Hong Kong can:
- Integrate with over 20 payment methods through Wonder’s unified online and offline payment solution and Citi’s Spring by Citi platform
- Manage cost of acceptance through transparent ‘interchange plus’ pricing model
- Combine digital payment acceptance with direct cash settlement to Citi
- Offer all services on a cloud-based platform which enables effortless upgrades for future development
Jason Ngan, Founder and Chief Executive Officer of Wonder, said “The strategic collaboration between Wonder and Citi is founded on the mutual dedication and commitment to empower Generali Hong Kong and its valued clients with streamlined payment solutions for making and receiving payments. Through this landmark collaboration between a bank and FinTech in serving leading global financial institutions, it strongly signifies to the banking and finance community that banks and FinTechs are not competitors, but rather are ideal strategic collaborators, capable of unleashing synergies through cooperation and jointly creating new value.”
