HSBC to capitalise on tech innovation with technology advisory board
Andy Maguire, chairman of HSBC’s technology advisory board
HSBC has appointed a technology advisory board of top-level specialists from around the globe as the banking giant is keen to capitalise on opportunities in artificial intelligence (AI), biometrics, blockchain and data science, combat cybercrime and leverage its global infrastructure.
The board is comprised of:
- Mickey Boodaei, CEO of Transmit Security, cybersecurity expert
- Steve Kirsch, CEO of Token, open banking expert
- Chris Larsen, executive chairman of Ripple, expert in blockchain
- Megan Quinn, general partner at Spark Capital (a Silicon Valley venture capital firm)
- Dr. Kira Radinsky, chief scientist at eBay, machine learning and data science expert
- Haoyu Shen, former CEO of JD.com, e-commerce and internet expert
- Dr. Vishal Sikka, CEO of Infosys, AI expert
- Dr. Gurjeet Singh, CEO of Ayasdi, AI expert
HSBC says the board will meet quarterly “to provide advice and guidance on HSBC technology and digital strategy relating to IT infrastructure, digital opportunities, cybersecurity and creative technology”.
Andy Maguire, HSBC Group COO and chairman of the technology advisory board, believes the adoption of technology is making the bank “simpler, better and faster” for its 46 million customers and 250,000 employees worldwide.
He highlights the progress made in the last couple of years, such as HSBC becoming the biggest financial services user of biometrics globally, through touch ID, voice ID and facial recognition; and experimenting with blockchain in trade finance.
The bank has also set up tech labs in India, China and the UK (and is looking to launch a fintech hub in London), and signed partnerships with the Alan Turing Institute in London and the Hong Kong Applied Science and Technology Research Institute.
