HSBC Singapore teams up with Saxo Bank for enhanced digital investment offerings
HSBC Singapore has entered into an agreement with investment bank Saxo Bank to enhance the former's digital investment offerings in Singapore.
This will be done by incorporating Saxo's trading infrastructure into HSBC's digital platform.
The agreement entails HSBC's adoption of Saxo's self-directed trading infrastructure for equities investments.
In a press statement on Friday (Nov 12), HSBC said that it expects the collaboration to strengthen its offerings for its retail banking customers, including those overseas, by granting them access to new platform functionalities, more global opportunities and an enhanced user experience.
The investment offerings will be fully digital.
Adam Reynolds, Asia Pacific chief executive officer of Saxo, noted that the platform uses OpenAPI technology to make digital banking easier and more efficient, while reducing cost and complexity.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
"Saxo's OpenAPI technology provides best-in-class efficiency and scalability investment and trading architecture, while allowing HSBC to focus its energies and resources into client servicing and experience," he said.
Anurag Mathur, head of wealth and personal banking at HSBC Singapore, said: "Saxo's well-reputed trading infrastructure will allow us to boost our equities trading capabilities and deliver an end-to-end solution to our customers."
The bank intends to continue accelerating the digitisation of its banking services and wealth solutions. This is in addition to the introduction of more than 60 remote-enabled processes and customer servicing journeys over the past 2 years, as well as a new suite of mobile-led digital solutions launched this year.
Saxo's trading infrastructure will be integrated and available to HSBC's customers starting early next year.
READ MORE:
Copyright SPH Media. All rights reserved.
