Commerzbank to write off €200m after scrapping outsourcing project with HSBC
The bank cites implementation risks and changed market conditions as the reasons behind its decision.
HSBC
Divido raises $30m from HSBC and ING to expand white label BNPL product
Founded in 2014, the firm claims 1,000 clients across 10 markets.
Video: fintech news pick of the week – HSBC, Klarna & Tandem
Top pick of news from the world of finance and tech in bitesize video format, twice a week.
HSBC bids goodbye to loss-making US division as profits move to Asia
HSBC has sold its mass-market retail banking ops to Citizens Bank and Cathay Bank.
HSBC follows China’s stance in rejecting cryptocurrencies: Reuters
In an interview with Reuters, HSBC’s CEO echoed China’s anti-Bitcoin and pro-CBDCs stance.
HSBC launches multi-currency business wallet to rival fintech providers
HSBC says businesses can “pay like a local”.
HSBC on track to hire 1,000 wealth managers in Asia before year end
In 2020, the bank’s Asian business reported $12.8 billion in profits.
HSBC to pay more than €1bn to get rid of loss-making French branches
The French unit moved to the shelf back in September 2019.
Video: fintech news pick of the week – HSBC, 11Onze, UK fintech funding & more
A top pick of stories from the world of finance and tech in video format, weekly.
HSBC CEO Colin Bell joins board of AML fintech Quantexa
HSBC has used Quantexa to develop an AI solution to better identify financial crime.
HSBC launches first multi-asset index driven by AI and big data
AiMAX uses new and historical data to identify assets poised for growth.
Former HSBC exec Maguire joins UK regtech Napier
Maguire takes up a position as an advisory board member at the firm.
HSBC challenges fintechs with launch of SME banking app Kinetic
“We’re taking the toolkit approach of the challengers,” HSBC lead tells FinTech Futures.
HSBC goes live with Demica system for trade receivables
Selection to deployment took the two firms just over a year.
HSBC explores options for loss-making US arm as profits dip 34%
Asia delivered HSBC a $13 billion adjusted profit before tax in 2020.
HSBC France sale to land this month, AnaCap goes back up against Cerberus
The French unit moved to the shelf back in September 2019.
Jeremy Balkin calls time on HSBC US innovation role
Balkin leaves his post after six years with the bank.
FCA calls on banks to reconsider branch closures during pandemic
HSBC announced the closure of 82 branches in January.
Santander hires HSBC’s Rakshit Kapoor as new chief data officer
Kapoor joins after three years at the major international bank.
HSBC closes 82 branches as in-person banking continues to decline
The bank says no jobs will be cut in the closures.
HSBC’s Hang Seng Bank to appoint first female chairman Irene Lee
In the short-term, Lee’s focus is on putting Hong Kong’s economy “back on the road to recovery”.
HSBC signs multi-year AML partnership with Polish fintech Silent Eight
The bank’s global compliance division will deploy the Silent Eight’s resolution alert system.
2020 review: 10 largest bank job cuts this year
This year has seen several job cut announcements.
HSBC Private Banking loses global innovation head Diana Biggs
Biggs steps down from her role after three and a half years at HSBC.
Report: Three key strategies for customer experience success
In-depth industry report on customer experience, featuring expert insights from Mettle, HSBC & Northwestern Mutual.
HSBC launches Global Money account in US to rival fintechs
The bank’s aim behind the new service is to create “one global account”.
A banker goes a-banking, volume 7: why can’t we be friends?
What 15 years of digitisation & modernisation have gotten us from the consumer’s point of view? It’s not looking great.
HSBC could start charging for “basic banking services”
It reported a 35% fall in pre-tax profit during the third quarter of the year.
HSBC to cut up to 300 jobs in UK commercial banking unit
The cuts are part of a wider restructuring announced in February.
Leaked FinCEN files show banks allowed $2trn in suspicious transactions
Major leak of suspicious activity reports shows “mind blowing” scale of money laundering issues.
HSBC and Microsoft partner to support Hong Kong SMEs
The two firms have signed a year-long partnership.
HSBC plans to double Black staff in senior positions by 2025
It does not mention what proportion of the bank’s current senior team are Black.
Third wave of COVID-19 forces Hong Kong banks to close branches
11 lenders will partially or completely shut down operations at some 58 branches.
HSBC signs multi-year cloud deal with AWS
Amazon Web Services is to become a “long-term strategic partner” for HSBC.
HSBC France to cut 38% of global banking and markets jobs
It’s seeking to cut 255 of 678 jobs by the end-2021 as part of a broader plan to reduce costs.
Report: A new decade of core banking transformation
A new FinTech Futures report examining the role of core banking in the industry today.
HSBC glitch sends coronavirus bounce back loans in error
UK bank has processed £4.5bn in loans so far in 2020.
65% of banks say legacy systems holding back Swift gpi adoption
Volante, HSBC and Deutsche Bank, share their insights on a recent webinar regarding Swift gpi.
HSBC wants to double mobile users by 2022
The bank wants to generate more revenue per customer.
Report: Five success factors for an ideal ISO 20022 migration
ISO 20022 represents an opportunity for banks to reinvent the way they operate.
