HSBC - Enterprise Tech Ecosystem Series
Summary
HSBC Holdings (HSBC) is a provider of banking and financial solutions. It offers retail, business, and commercial banking; private banking; and wealth management services through its subsidiaries. The group’s offerings include personal and commercial loans, deposit services, mortgages, card products, insurance solutions, asset and investment management, transaction banking, capital markets, and trusts and estate planning. It has a presence in Europe, Asia, the Middle East, North Africa, North America, and Latin America.
This report provides insight into HSBC’s fintech activities, including its digital transformation strategies, innovation programs, technology initiatives, estimated ICT budget, and major ICT contracts.
In 2016, HSBC and ASTRI jointly launched HSBC-ASTRI RDI Lab to develop innovative financial technologies across Asia. The lab focuses on fintech solutions including AI, biometrics, big data analytics, blockchain, cybersecurity, and internet finance.
In 2016, HSBC formed the Innovation Team, which focuses on fostering innovation internally. It also handles external activities, including collaborations with universities and research institutions, accelerator programs, and identifying innovative companies for partnership or investment.
Launched in 2014, Ventures, Innovation, and Partnerships (previously known as Strategic Innovation Investments) is the venture capital arm of HSBC, investing in early-stage companies that are aligned with HSBC’s business segments. It co-invests with other corporate or financial investors. It also manages consortium investments across HSBC Group. Its investments are primarily focused on cybersecurity, fraud prevention, automation, AI, risk management, and analytics technologies.
Scope
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