HSBC announced the appointment of Aman Narain Wednesday (Sept. 29), saying it was part of its strategy to embed its solutions into its clients’ digital platforms.
“In this new role Aman will lead HSBC Commercial Banking’s global platforms strategy, including the development, commercialisation and innovation of market-leading propositions,” the company said in a news release.
Narain joins HSBC from Google, where his title was global new payments ecosystems lead, helping with the building and commercialization of revenue generating ecosystems such as the launch of Google Pay in Singapore and the design of the GooglePlex Account.
The executive has also overseen the digital and marketing transformation for Schroders and held a number of leadership positions at Standard Chartered. He will be based in Singapore and will report to Stuart Tait, regional head of commercial banking, Asia Pacific.
“Aman is an excellent addition to the Global Commercial Banking team,” said Barry O’Bryne, chief executive, global commercial banking at HSBC. “As we continue to invest in our digital platforms, Aman will be instrumental in driving the adoption and buy-in of our market-leading propositions.”
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O’Byrne also spoke of the wealth of opportunity in Singapore, which he called “a global innovation hub.”
Related: HSBC Global Wallet Adds More Currencies to Expanded Platform
Singapore was one of the countries where HSBC launched its global wallet earlier this year, the first multicurrency digital wallet from a major U.S. bank’s business platform. The bank added several additional currencies earlier this month.
Read more: HSBC Says it Supports CBDC with Regulations
HSBC also recently came out in support of central bank digital currencies (CBDCs), albeit with certain restrictions.
For example, HSBC thinks central banks will have to examine whether CBDCs could have an adverse effect on the supply of credit, market activity and financial stability. In addition, CBDCs will have to rise to the challenge on issues such as data privacy and the ability to withstand cyberattacks.
