HSBC Partners with Hong Kong Science and Technology Parks Corp. to Assist Startups with Open Banking, Also Signs Cloud Deal with AWS

HSBC, a British multinational bank and financial services holding company with over $2.5 trillion in total assets, has partnered with the Hong Kong Science and Technology Parks Corporation (HKSTP) in order to assist startups with their Open Banking programs (in Hong Kong).

The API EcoBooster initiative will assist companies based in Hong Kong with developing and using APIs and other technologies to support their banking requirements.

Program participants will be able to work with HSBC as their partner in co-developing various financial services in key areas including digital payments, credit cards, customer records management, loans, and transactions and operations.

HSBC’s digital technology experts will serve as mentors and will be providing guidance to developers, which will include assisting them with understanding the requirements of banking customers.

Diana Cesar, CEO at HSBC Hong Kong, stated:

“Our collaboration with HKSTP opens an important avenue for HSBC to encourage the development of new smart banking initiatives and industry partnerships, giving support to Hong Kong’s smart city aspirations.”

Developers must register for the program by August 14, 2020. The HSBC team will be selecting 30 proposals to take part in the program.

HSBC has also committed to a cloud deal with Amazon Web Services (AWS) in order to offer customers a more user-friendly and personalized digital banking experience.

HSBC said it would make AWS tech available across its customer-facing apps and would also use it for its application modernization process in its global wealth and personal banking business.

Dinesh Keswani, CTO and CIO for Digital at HSBC, remarked:

“Our ambition is to make it easy, safe, and reliable for customers to bank with us, whenever and wherever they are,” he says. “HSBC’s collaboration with AWS helps us to deliver innovative banking solutions to customers at a faster rate, starting with our Wealth & Personal Banking business.”

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