Tagged: hsbc

HSBC Says there’s No Need for a Virtual Bank License to Provide Digital Banking Services

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

HSBC Holdings and Royal Bank of Scotland Prepare to Launch New Digital Banking Platforms to Meet Growing Demand from Clients

HSBC Holdings plc (HSBC), a British multinational investment bank and financial services holding company, and the Royal Bank of Scotland Group plc (RBS) are preparing to introduce their digital banking platforms in order to meet client requirements. HSBC Kinetic, the bank’s new digital banking platform,… Read More

Financial Giant HSBC Is Planning to Relaunch First Direct to Attract Younger Customers and Compete With Digital Challengers

HSBC, one of the world’s largest banking and financial services organizations, is planning to embrace new technologies and relaunch its “First Direct” brand in order to attract younger clients while competing with digital challengers. According to the Financial Times, the London-headquartered financial institution is considering… Read More

London Stock Exchange Group-backed Fintech Nivaura Hires HSBC Executive Chris Jones

UK-headquartered Nivaura, a regulated Fintech firm supported by the London Stock Exchange Group, has hired HSBC executive Chris Jones, the company confirmed. Nivaura helps clients review and process capital market legal documents. Jones will be advising on product features and he will also be responsible… Read More

Slam the Brakes: HSBC to Cut 10,000 Jobs

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

Blockchain Based Letter of Credit Processed by HSBC on Voltron Trade Finance Platform

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

HSBC Debuts Next Generation Virtual Accounts For Corporate & Institutional Clients

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

Hong Kong Fintech Update

Invest Hong Kong Appoints New Head of Fintech King Leung has been appointed Head of Fintech at InvestHK which took effect in early May. Leung will lead a specialist Fintech team with the objective of attracting top innovativeFfintech companies, entrepreneurs, investors, accelerators and R&D institutions… Read More

HSBC Announces Opening of Global Data & Innovation Lab in Toronto

HSBC announced on Wednesday it has opened its Global Data & Innovation Lab in Toronto, citing the city’s interest, investment and development of artificial intelligence (AI) and advanced machine learning. According to HSBC, the 3,376 square foot energy efficient lab will soon employ over 50… Read More

LendInvest to Move into Regulated Home Loan Mortgages, Raises £200 Million from HSBC for Significant Expansion of Lending Services

LendInvest, one of the most successful online lending platforms in the UK, has raised £200 million from HSBC UK to help fuel expansion into the regulated home loan market. In a release, LendInvest said this marks the company’s next step towards achieving its ambition of… Read More

HSBC Teams Up With Fintech NepFin For Commercial Banking Services

HSBC US Commercial Banking announced on Tuesday it has formed a new partnership with fintech firm, Neptune Financial (NepFin). According to the banking group, the collaboration will firms that are doing business with NepFin will now be able to tap HSBC for commercial banking services and… Read More

HSBC Says Its New DLT System for Forex Trades 25% Faster

An executive at HSBC has claimed the global bank’s new distributed ledger system for settling Forex trades is 25% more efficient than previous systems, Reuters reports. The system, HSBC FX Everywhere, is reportedly handling 3500-5000 foreign currency trades per day, though HSBC would not confirm what… Read More

HSBC Canada Forms New Partnership With Biz2Credit to Give Canadian Small Business Owners Financing Quicker & Easier

Biz2Credit announced on Monday it is working with HSBC Bank Canada to give Canadian small business owners quicker and easier access to apply for business financing through HSBC eCredit. According to the duo, HSBC eCredit is a digital-first approach to lending, which will allow small business… Read More

HSBC Partners with Avant’s End-to-End Tech Amount to Launch Digital Lending Platform

U.S. banking and financial service HSBC announced on Wednesday it has partnered with Avant’s end-to-end technology platform Amount to launch a new digital lending platform, which will U.S. consumers, including existing HSBC customers, with a simple way to apply for personal loans online. HSBC reported is… Read More

HSBC Commercial Banking Announces Women on the Rise in FinTech Initiative Launch

HSBC Commercial Banking announced on Wednesday the launch of its Women on the Rise in FinTech initiative, which is described as a program aimed to celebrate and encourage gender diversity by honoring the industry’s preeminent women. The initiative will also provide resources and guidance to help… Read More

Regtech is Hot and IBM’s Watson is On It

IBM’s Watson, an artificial intelligence initiative (AI), is moving into Regtech. This should really come as no surprise to anyone as Regtech and AI are a perfect match. All of financial services will be digitized and fueled by the internet. Fintech is the future. But… Read More

Finastra Teams Up With R3 & Seven Banks to Create Distribute Ledger Technology Platform

UK-based fintech firm Finastra announced on Thursday it has teamed up with R3 and seven banks to create an online marketplace to drive transparency and efficiency in the syndicated loan market. Finastra reported that R3’s distributed ledger technology (DLT) based platform, Fusion LenderComm exposes real-time credit agreement, accrual… Read More

First Proof of Concept: KYC Blockchain Created by ASEAN Banks

OCBC Bank, HSBC and Mitsubishi UFJ Financial Group (MUFG), along with Infocomm Media Development Authority (IMDA), have successfully completed a proof-of-concept for a Know Your Customer (KYC) blockchain. OCBC Bank is the longest established bank in Singapore formed in 1932 from the merger of three… Read More

Twitter Brawl: R3 Takes Some Heat on Whether it is Blockchain. Or Not.

This is kind of interesting. R3, the big bank funded distributed ledger technology initiative, has been in a bit of a dust up as it “repositions” its services. The controversy is not anything new but things continue to simmer a bit as there is an… Read More

FinTech Association of Hong Kong Launches to Advocate & Promote Innovations in Finance

Yesterday there was a well attended event in Hong Kong to announce the launch of the FinTech Association of Hong Kong (FTAHK). The FTAHK is an independent, not-for-profit, member-driven organisation that is now the voice of the Fintech community in Hong Kong. Members range from Fintech… Read More

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