According to Financial Times, this marks the first commercially viable trade finance deal using the blockchain; the trade was completed...
HSBC is looking to scale back their operations in the US, mainland Europe and in their investment bank; at the...
HSBC is looking to test the new app to help in preparation for the coming open banking regulations; the app will allow customers to look at all their accounts including loans from 21 different banks; Becky Moffat, head of personal banking and advice at HSBC, tells Banking Technology “Through our Beta app we want to give our customers a complete and joined-up view of their financial life.” Source.
HSBC is following in the footsteps of JPMorgan Chase and Bank of America by adding new branches in the U.S....
HSBC is planning to hire 1,000 new Asian wealth management operations employees; the announcement is part of a cost cutting initiative which has closed 60 branches in the UK and moved 200 IT-related jobs to Asia; the newly added employees will primarily be focused on Chinese retail banking and wealth management, adding to a team of 2,400 employees. Source
HSBC has moved 3000 members of its staff into a new building and are viewing this digital group differently than their core suit-and-tie employees; the bank believes separating them out will better help to fuel new innovative ideas; HSBC CEO Stuart Gulliver said, "To survive for 150 years we've had to evolve. Most of the risk we've dealt with is political. Actually what's happening in the digital space is there is a threat, particularly to retail banking... in payments, in wealth management." Source
HSBC has launched a digital wallet in Hong Kong that targets startups and other small businesses; the bank said they...
HSBC has launched Face ID in 24 countries to allow clients to log into the HSBCnet app; HSBC is becoming...
HSBC’s U.S. retail division has struck two new financial health partnerships with Everfi and GreenPath Financial Wellness; “This is about...
HSBC looks to become the first major UK based bank to comply with open banking; the bank plans to launch a new app that centralizes information about customers’ accounts; the current plan is set for release in the first week of May and the app will be named Connected Money; HSBC’s UK head of retail banking and wealth management Stuart Haire said the new challenger banks have been have been making progress on customer insight; there is still healthy skepticism about how fast open banking will catch on as incumbents have been slow to comply. Source.