HSBC launches multi-market business account opening service in 20 markets

HSBC has announced that it is launching a market-leading digital solution which will enable businesses and corporate customers to open accounts for multiple business entities, across multiple markets.

HSBC has announced that it is launching a market-leading digital solution which will enable businesses and corporate customers to open accounts for multiple business entities, across multiple markets.

Using a dedicated portal, the streamlined digital application process is fast, simple, and globally consistent, regardless of the market or markets where accounts are being opened.

The unique solution can be accessed online and brings together application forms, secure document exchange functionality, online tracking and eSignature capabilities, making international account opening a seamless experience.

David Rice, Commercial Banking Chief Operating Officer at HSBC, said: “Helping businesses operate seamlessly, transact and grow across borders is core to HSBC’s purpose. This service will radically simplify the processes behind this ambition and eliminate long-standing pain points for internationally minded businesses looking to expand overseas.

“Digital account opening which is standardised by format, process and requirements, significantly improves on an industry standard characterised as slow, paper-based and inconsistent.”

The digital account opening portal supports both primary and subsidiary accounts. Customers using the portal will also benefit from direct support tools including local language, AI-powered Virtual Assistants; and in-platform communication with local case managers. It allows for tracking of applications and offers transparent and consistent support throughout the account opening process.

The service is set to be rolled out in the following 20 markets:

Australia Israel Netherlands Spain
Canada Italy New Zealand Thailand
France Luxembourg Philippines United Arab Emirates
India Malaysia Republic of Ireland United Kingdom
Indonesia Mauritius Singapore United States

 

An additional handful of markets are set to receive access to the solution as we head into Q4, in the form of Hong Kong, Bahrain, Kuwait and Qatar. Whilst further global expansion of the suite is planned for 2024.

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