Hsbc news and trends

HSBC Reportedly Weighing Sale of Australian Retail Banking Unit
Banking // January 20, 2025

HSBC is reportedly considering a sale of its Australian consumer banking operation. That’s one of the options before the British banking giant as it tries to pare down its business, Bloomberg News reported Monday (Jan. 20), citing sources with knowledge of the matter. One of...

Stenn Collapses Over FinTech’s Possible Ties to Money Launderers
AML // December 16, 2024

U.K. FinTech Stenn has reportedly collapsed over possible ties to a Russian money laundering scheme. The company was placed into administration — a type of insolvency procedure — earlier this month after a reference to it appeared in a U.S. indictment in a money laundering case, the...

HSBC Australia Sued for ‘Widespread’ Anti-Fraud Failings
Bank Regulation // December 16, 2024

Banking giant HSBC is facing a lawsuit in Australia over alleged fraud-prevention failures. The Australian Securities and Investments Commission (ASIC) announced Monday (Dec. 16) that it was suing HSBC Australia, accusing the bank of failing to have proper controls to identify and stop unauthorized payments. ...

Report: HSBC to Scale Back Retail Banking in Mexico, Malaysia and Indonesia
Banking // December 13, 2024

HSBC is reportedly considering scaling back its retail banking operations in Mexico, Malaysia, Indonesia and some other countries. The bank is considering focusing only on wealthier clients in these markets as it looks to cut costs and focus on its core markets, which are the...

Interviews & Exclusives
Working Capital Innovations Power Trade Sector’s Journey Toward Efficiency

August 01, 2023
To eliminate paper checks and manual payment processes, you need to look for them first. But once you see them, you’ll find them everywhere. That’s why observers believe the B2B and trade finance sectors are especially ripe for digitization, because they are collectively knee deep (and sinking) within the confines of the paper check and […]

Can HSBC Preserve SVB’s Innovation Culture Post UK Unit Acquisition?

March 14, 2023
The world woke up on Monday (March 13) to news that British multinational banking giant HSBC is purchasing Silicon Valley Bank (SVB) UK, the U.K. arm of the failed U.S.-based...

Banks Must Have ‘Relentless’ Focus on Cost, Speed, Convenience and Transparency of Business Payments

October 26, 2021
Hindsight, as they say, is 20/20. And hindsight about 2020 — well, that’s something else entirely. After the initial mad dash of the great digital pivot, the compressed timeframe where...

Report: AI and Transaction Notifications Help FIs Stop Payments Fraud Before Customers Get Scammed

September 30, 2021
Payments are now more digitized than ever before, with experts projecting that $6.6 trillion with be exchanged through digital channels by the end of the year, a 40% increase over...

Quick Reads
Reports: HSBC Shuttering Cross-Border Payments App Zing

January 23, 2025
Just one year after its launch, HSBC’s cross-border payments mobile app is no more. A Yahoo Finance report on Thursday (Jan. 23) quoted a spokesperson for the bank: “Following a strategic review of Zing within the HSBC Group and after careful consideration, we have made the decision to close Zing and integrate its underlying technology […]

HSBC Reportedly Weighing Sale of Australian Retail Banking Unit

January 20, 2025
HSBC is reportedly considering a sale of its Australian consumer banking operation. That’s one of the options before the British banking giant as it tries to pare down its business,...

Stenn Collapses Over FinTech’s Possible Ties to Money Launderers

December 16, 2024
U.K. FinTech Stenn has reportedly collapsed over possible ties to a Russian money laundering scheme. The company was placed into administration — a type of insolvency procedure — earlier this month after...

HSBC Australia Sued for ‘Widespread’ Anti-Fraud Failings

December 16, 2024
Banking giant HSBC is facing a lawsuit in Australia over alleged fraud-prevention failures. The Australian Securities and Investments Commission (ASIC) announced Monday (Dec. 16) that it was suing HSBC Australia,...