HSBC targets Hong Kong start-ups, SMEs with digital ‘Sprint’ account as it embraces technology
- Account latest in bank’s digital strategy with 15 initiatives for small, medium-sized businesses in Hong Kong since 2017
- HSBC targeting businesses that have been incorporated for less than three years
As HSBC expands its digital offerings to consumers and business clients, the human touch will remain at the centre of the customer relationship, according to Terence M C Chiu, HSBC’s head of commercial banking for Hong Kong.
The bank, which is one of three lenders authorised to print money in Hong Kong, has introduced 15 digital initiatives for small and medium-sized businesses over the past two years as it embraces technology “to make the interaction [with customers] a lot smarter and quicker”.
On Wednesday, HSBC introduced its first account tailored for start-ups and new small businesses, the Sprint account.
The bank uses technology to make it easier for new businesses to apply for an account digitally in about 20 minutes and provides access to a suite of tools to help manage payroll and human resources functions, as well as collection services, including PayMe for Business and HSBC Business Collect.
“When I talk about technology and people, it’s not about technology replacing people,” Chiu said. “It’s about people mastering the technology, [about] how to make the best handshake between the two. To deliver what the customer wants is the ultimate destiny.”
The new offering comes as Hong Kong encourages the development of more start-ups, with the city earmarking HK$2 billion (US$255 million) in 2017 to help develop local innovation and technology entrepreneurs.