HSBC is launching a foreign exchange platform called the Business Internet Banking platform. HSBC says the platform will draw on big data and will be launched in April.

According to HSBC, the platform will draw on big data analytics to give business customers information and tools when conducting FX transactions. For example, when a customer gets a real-time FX quote, a message will pop up in the FX Insights box with information about the percentage of HSBC business customers that have bought or sold that currency during a particular period. Or if a customer has completed transactions involving the same currency pair several times in the past six months, they will be asked if they want to set up automated FX switching to make their regular transactions simpler in future.

Terence Chiu, head of commercial banking, Hong Kong, HSBC, says, “Our extensive customer base in Business Internet Banking enables us to use big data analytics to generate insights for customers, enabling them to make more informed decisions. HSBC will continue to invest in technology to make banking simpler, faster and better for customers.”

Photo: HSBC