Archives

December 16, 2019 @ 7:47 am By Omar Faridi  |  

HSBC Bank plc, one of the world’s largest banking and financial services organizations with a market cap of more than $156 billion, is reportedly working with UK-based charities to assist homeless citizens, who do not have residential addresses or government-issued IDs, to open bank accounts… Read More

November 18, 2019 @ 7:23 am By Omar Faridi  |  

HSBC has been focusing on improving its digital banking platform in order to attract more tech-savvy clients, as the giant financial institution continues to face competition from Fintech firms and new payment services companies. There are reportedly eight new virtual banks that are expected to… Read More

October 6, 2019 @ 9:49 pm By JD Alois  |  

HSBC is planning to cut a whopping 10,000 jobs. HSBC currently employs approximately 238,000 individuals. The new job reductions are in addition to a previously announced 4700 headcount cut. In a report by the FT from earlier today, it was claimed that interim CEO Noel… Read More

September 4, 2019 @ 8:30 am By JD Alois  |  

HSBC has processed a Yuan-denominated letter of credit using the Voltron platform. According to a report in Reuters, this is the first transaction of its type to use Yuan and the first to utilize the Voltron platform. Voltron explains their application as follows: “[Voltron] will… Read More

July 8, 2019 @ 3:50 pm By Samantha Hurst  |  

HSBC announced on Monday the launch of its new Next Generation Virtual Accounts to help wholesale clients increase their cash management efficiency by consolidating bank accounts and centralizing transactions. HSBC reported that through the accounts clients may consolidate hundreds of bank accounts into a handful… Read More