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October 25, 2024
On the wires
HSBC Joins China’s Payment System in Boost to Yuan Usage
Reuters
"Hong Kong unit has joined China's worldwide interbank renminbi payment system (CIPS) as a direct offshore participant, according to a company statement. Beijing is pushing to internationalize the yuan, which ranks fourth in global payments according to the global bank messaging network SWIFT, and challenge the U.S. dollar, by far the world's most widely used currency."
August 14, 2024
On the wires
HSBC Announces New Benefits for Premier and Elite Credit Cards to Increase Travel and Lifestyle Rewards
Business Wire
"Premier and Elite cardmembers will have more ways to earn points, increased travel and dining rewards, along with new perks for streaming, ride sharing and more. The new card design includes 100% recycled plastic for the Premier card and added notch to help visually impaired cardholders orient for chip readers."
July 9, 2024
On the wires
HSBC Partnered with Visa to Develop Zing International Money App
Business Wire
"Visa and HSBC announced the technological collaboration in support of HSBC Group’s new international payments app, Zing. Zing enables users to hold funds in over 10 different currencies, send over 30 currencies, transact in over 200 countries and territories worldwide, all managed through a single app and smart multi-currency card."
June 10, 2024
On the web
HSBC China Rolls Out E-CNY Services for Corporate Clients
The Block
"HSBC Bank’s China entity has started to offer e-CNY services for corporate clients, making it the first foreign bank in the country to provide services linked to the central bank digital currency for both retail and corporate customers, the bank said."
Quantexa Debuts Q Assist, New Context Aware Generative AI Technology Suite
Quantexa
"HSBC is currently participating in the program for early adopters. Each organization in the program envisions using Q Assist in several ways, including: Streamlining analysis, investigation, and reporting tasks to achieve greater efficiency; reducing the reliance on data science and operations teams for ad-hoc data requests; empowering customer facing teams with access to enriched data."
April 2, 2024
On the web
Adyen Partners With PayMe by HSBC to Broaden Global Businesses’ Customer Reach in Hong Kong
Adyen
"Adyen announced its partnership with PayMe by HSBC in Hong Kong to become an acquirer for the mobile payment service."
HSBC Launches Tokenized Gold Product Targeting Hong Kong Market
Bitcoin News
"HSBC launched the first bank-backed tokenized gold product for its customers in Hong Kong allowing retail investors to purchase tokenized gold from their smartphones using the bank’s online app, democratizing access to these gold contracts for retail customers and leveraging distributed ledger technology."
January 2, 2024
On the web
HSBC Takes On Revolut, Wise With New Forex App for Non-Customers
bloomberg
"HSBC is set to debut an international payments app aimed at directly challenging the dominance of fintechs like Revolut and Wise. Zing will initially be offered in the UK, but Europe’s largest bank is planning to roll out the service in other places in the coming months."
July 27, 2023
On the web
HSBC Breached this Banking Rule 12,200 Times. Regulators Sigh Wearily
The Stack
"HSBC failed to give business current account owners their transaction data 12,200 times between February 2018 and November 2022 – in flagrant violation of UK retail banking market rules – but avoided being fined."
June 1, 2023
On the web
HSBC Explores Practical Applications of Quantum Computing in Financial Services
FStech
"HSBC has partnered with Quantinuum to investigate the real-world use cases of quantum computing in financial services. The project will look at several areas in which the technology could be applied, including cybersecurity, fraud detection and natural language processing."
March 13, 2023
On the web
HSBC Acquires Silicon Valley Bank UK Limited
HSBC
HSBC Holdings plc announces that its UK ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for £1. As at 10 March 2023, SVB UK had loans of around £5.5bn and deposits of around £6.7bn. For the financial year ending 31 December 2022, SVB UK recorded a profit before tax of £88m.
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