HSBC will embrace FinTech to improve its offering according to recent information.
HSBC’s head of customer propositions and innovation says the bank is committed to FinTech development.
He has stated that while FinTech was initially met with resistance it’s now essential for banks to embrace it.
Financial Timesbacked publication Sifted reported the information from an event at London’s Cass Business School.
What does this mean?
While HSBC will need to work at FinTech innovation to boost its customer experience, it has already invested in the space – notably in Bud, an education FinTech which boosts financial wellbeing. It will now need to look at how it can innovate within its own business or implement offerings from partners.