HSBC to invest in operations amid accelerated digital adoption

The bank has invested in innovation, digitisation and technology to ensure optimum digital uency to improve business operations


HSBC Bank Malaysia Bhd is adapting to changes in the digital landscape by investing in operations to ensure it meets the needs of its customers who are riding on the wave of accelerating digital transformation triggered by the Covid-19 pandemic.

HSBC Malaysia country head of commercial banking Andrew Sill (picture) said digital technology has reshaped customers’ needs and preferences while disrupting existing sectors and creating new ones, causing customers to continuously find new ways to overcome the challenges that are present.

“Our customers are transforming and we have to do the same. To become future fit, we are investing in our infrastructure and processes, in our solutions as well as our assets.

“This will make it easier for our customers to do business with us while helping them grow,” he said in a media briefing after the launch of HSBC’s new proposition to support Malaysian corporates yesterday.

He said the bank has been resilient amid challenging times as it has invested in innovation, digitisation and technology to ensure an optimum digital fluency to improve its business operations.

To overcome the challenges faced by the bank in enhancing digital innovation, Sill said the group observes the changes taking place and dangers customers will go through during the shift.

“We observe and look to take advantage of any changes and be proactive in the way we are developing our digitisation and innovative thinking,” he said.

HSBC has launched a proposition comprising Beyond Banking and the Mid-Market Accelerator Programme (MMAP) to support

local corporates navigate and build resilience against global challenges including the shift to digital economies, climate change and the increased shift in trade and investment to South-East Asia.

Beyond Banking will be available to HSBC’s entire commercial banking customer base and provides customers with innovative digital solutions, sustainable financing, international business growth partnership, access to dedicated support from sector specialists and support in supply chain resilience.

The MMAP fits within HSBC’s Beyond Banking offering and is specifically aimed at fast-growing Middle Market Enterprise (MME) customers by enabling them to gain access to HSBC’s full suite of bespoke financing solutions.

“As the world’s leading international bank, HSBC is committed to helping our customers turn these risks and changes into opportunities.

“It is also our ambition to be our customers’ trusted advisor. To facilitate this, HSBC Malaysia is pleased to introduce a new proposition that includes a bespoke programme targeted at propelling leading Malaysian businesses with growth aspirations, locally and globally,” said Sill.

HSBC Malaysia head of corporate for commercial banking Karel Avni Doshi said there are growth opportunities in the MME segment in Malaysia and the MMAP helps businesses gain the support they need to expand their growth.

“We offer these customers tailored solutions and expertise, thus positioning HSBC as the bank of choice for the country’s MMEs intending to grow to become large corporates,” she said.

Meanwhile, HSBC group GM and regional head of commercial banking in Asia Pacific Stuart Tait said the banking group is committed to its operations in Asia and Malaysia as Asia is expected to account for 50% of global GDP by 2025.

He added that trade flows in the Asian region are growing faster than global average and more investments are flowing into Asia.

“HSBC is committed to Asia and Malaysia, and we are investing US$6 billion (RM24.74 billion) over the next five years in the largest banking opportunity in the world,” he said.