HSBC Launches Multi-Market Business Account Opening Service
HSBC has launched a multi-market business account opening service.
This service aims to help businesses expand overseas by simplifying the account opening process and addressing long-standing challenges faced by internationally-minded businesses, the banking and financial services organization said in a Wednesday (Sept. 13) press release emailed to PYMNTS.
“Using a dedicated portal, the streamlined digital application process is fast, simple and globally consistent, regardless of the market or markets where accounts are being opened,” HSBC said in the release.
The service providing this streamlined digital application process is currently available in 20 markets, according to the release. HSBC plans to expand the availability of the service by adding more markets in the fourth quarter and in 2024 to further enhance its global reach and impact.
The portal offers a range of features to facilitate seamless international account opening, the release said. It includes application forms, secure document exchange functionality, online tracking and eSignature capabilities. By eliminating the need for separate applications and reducing administrative burdens, the service enhances efficiency and reduces paperwork for business and corporate customers.
It support both primary and subsidiary accounts, per the release.
“Helping businesses operate seamlessly, transact and grow across borders is core to HSBC’s purpose,” David Rice, commercial banking chief operating officer at HSBC, said. “This service will radically simplify the processes behind this ambition and eliminate long-standing pain points for internationally minded businesses looking to expand overseas.”
The portal enables digital account opening that is standardized by format, process and requirements, providing a superior alternative to traditional methods that tend to be slow and paper-based, Rice added.
Customers using the portal will also benefit from direct support tools, including local language options, artificial intelligence (AI)-powered virtual assistants and in-platform communication with local case managers, according to the press release. These offerings ensure transparent and consistent support throughout the account opening process.
In another recently launched innovation, HSBC and B2B commerce platform Tradeshift announced Aug. 1 that they formed a joint venture to develop embedded finance solutions and financial services apps aimed at businesses and their suppliers within the global trade market.
The new joint venture is just one emergent innovation in a new generation of trade finance and working capital solutions that are already helping to reshape the landscape of global trade, empowering firms to grow on a global scale.
The post HSBC Launches Multi-Market Business Account Opening Service first appeared on PYMNTS.com.