HSBC eyes trade finance gap in services sector

Singapore

HSBC, which processes US$1 million worth of trade every minute, is eyeing trade funding gaps in the services sector, as growth in global trade shifts from shipping physical goods across borders to cross-border trade in labour and skills.

As the bank - a major force in trade finance - responds to the structural changes in trade, it has been financing click-based revenues from e-commerce players, as well as offering working capital to other service firms, Natalie Blyth, HSBC's global head of trade and receivables finance, told The Business Times.