HSBC Opens Up to Customers with Open Banking
HSBC has a new global strategy, is investing heavily in technology and is embracing open architecture to help its clients with digital transformation.
It is hard out there in treasury land. Treasurers are facing loads of pressure to jump into new digital technologies. There is no denying the mandate to increase efficiency in treasury’s key areas of responsibility and to help the company as a whole meet its strategic objectives. This overarching pressure to automate and embrace transformation has put a spotlight on what is arguably the single most important relationship treasury has outside the company—with its banks.
HSBC is stepping up to be the bank of the future by investing heavily in technology and partnering with fintechs that can aid its effort to make banking faster and easier. To put weight behind that claim, HSBC CEO John Flint announced the bank plans to invest $15 billion–$17 billion in technology as part of its growth.
What to know how they are doing it? iTreasurer sat down with key players at HSBC to outline how the bank is creating efficiencies with its open-architecture banking system, including a client-centric approach that promises frictionless banking in a digital world.