HSBC Opens Asia Pacific Innovation Lab

  • The bank’s first dedicated Fintech space in Asia Pacific
  • Part of a global initiative to develop next generation digital banking services

HSBC has opened its first financial technology (Fintech) innovation lab in the Asia Pacific as part of a global initiative to develop next generation digital and mobile banking services.

Staffed with a team of business and technology experts, the lab’s first phase of development will focus on Fintech solutions for corporate banking needs in payments, trade and supply chains, particularly for companies with a regional focus.

Subsequent development phases will integrate the full range of HSBC services, including retail banking, into the lab’s capabilities.

“The HSBC innovation lab will strengthen the bank’s world-wide program of innovation, leveraging our international reach and connectivity to accelerate and amplify the benefits and opportunities to our clients with international ambitions,” said Mr Marcus Treacher, HSBC’s Global Head of Innovation for Payments and Cash Management.

“The HSBC innovation lab will not only provide extensive exposure to the latest financial technology trends to our partners and clients for earlier strategic response but position HSBC as a digital banking thought-leader in the Asia Pacific,” Mr Treacher added.

HSBC will work with a range of partners – including clients, technology firms, academia and government officials – to share expertise and showcase trends and new technologies.

New ideas and concepts will be prototyped and trialed through full-scale business simulations to generate practical insights into digital disruptions, then fine-tuned before being fully launched to market.

HSBC has been actively ramping up its involvement in Fintech and innovation, participating in various initiatives around the world. HSBC was a founding partner of Stone & Chalk, a Fintech hub supporting start-ups in Sydney which opened its doors in August 2015. The bank has also mentored new businesses in London and Hong Kong, helping to introduce them to potential partners, stress-test their strategy and gain insights into the financial services sector.

The new lab will be located at HSBC’s flagship Singapore banking centre in Collyer Quay. A key focus will be to support the development and testing of digital and mobile banking innovation projects with application potential in ASEAN countries where the bank has an active presence, including Malaysia, Indonesia and the Philippines.

Mr Guy Harvey-Samuel, HSBC Group General Manager and CEO of HSBC Singapore, said that Singapore’s physical location at the heart of the ASEAN region and its status as home to more than 200 multinational regional treasuries made it the logical choice to base an innovation lab.

“Much of the corporate management activity across ASEAN emanates from Singapore, and the city-state is making a concerted push to develop itself as a technology innovation centre, attracting a growing start-up community and forging ties with other leading innovation centres, such as London,” he said.

“The HSBC innovation lab in Singapore is well-placed to enable the bank to become a key contributor to the Fintech eco-system. It will bring focus to the Singapore market on the global stage, harnessing, and showcasing its strong talent pool and technologies to take newly defined propositions to other markets and geographies.”

Most recent episodes

Treasury on Demand: Are you Ready?

A need to react quickly to new business requirements is driving a new age in treasury, characterised by on-demand concepts. In our latest podcast covering the Journeys to Treasury report, Steven Lenaerts, BNP Paribas, and Christian Mnich, SAP, explore the drivers...


Smart Treasury: The Future is Now

In this TreasuryCast episode, our guests from Standard Chartered, Sunday Domingo and Byron Gardiner, discuss best practice approaches in a data-driven treasury environment. The experts also consider how treasury responsibilities such as working capital and...


Co-Creation in Action: Treasury Evolution

Think co-creation is just a buzzword? Then it’s time to think again. As Pierre Fersztand, Global Head of Cash Management, Trade & Payments, BNP Paribas, explains, value-adding solutions are being implemented as a...


Leading Edge Supply Chain Finance: Smart and Sustainable

TMI’s Eleanor Hill is joined in the virtual TreasuryCast studio by Gwynne Master, Managing Director and Global Head of Trade, Lloyds Bank, to discuss all things supply chain finance, an area that has faced...


What’s Next in Digital Payments?

Mario A Benedict and Christine Moy, J.P. Morgan, join us to pinpoint the key trends gathering traction in the digital payments space – and how treasurers can make the most of them. Our guests consider how digital currency initiatives such as J.P. Morgan’s...


An Award-Winning Digital Treasury Transformation: Secrets of Success

TMI Award winner Gavi’s Managing Director of Finance and Operations, Assietou Diouf, joins us to discuss the organisation’s celebrated digital treasury transformation...


Central Bank Digital Currencies: What Treasurers Need to Know

Jean-Marc Servat, Chair of The European Association of Corporate Treasurers (EACT) and TMI's Eleanor Hill take a deep dive into the world of crypto assets to discuss why central bank digital currencies (CBDCs) are...


From 2020 to 2021: Treasury in Transition

Over the last 12 months, the treasury community has successfully navigated some of the toughest trading and operational conditions in living memory. In this interview, Peter Cunningham, Citi, chats to TMI’s Eleanor...


A New Era for Treasury Centralisation

The second instalment of the Journeys to Treasury podcast series sees Wim Grosemans, BNP Paribas Cash Management, and Didier Vandenhaute, PwC, consider why centralisation has become such a persistent theme for treasurers in a Covid-19 world. In this episode, our...


Re-tooling Treasury for a Resilient Future

Preparing for the unknown is a challenge. But forward-thinking treasurers are beginning to access real-time useable data to optimise cash forecasting – and automating investment processes. Eleanor Hill speaks to Jim...