HSBC Announces New Tech Investment
HSBC has announced they plan to invest between $15bn to $17bn on new technology as it looks for growth; John Flint, HSBC group chief executive, explains as reported by Banking Technology, “After a period of restructuring, it is now time for HSBC to get back into growth mode. The existing strategy is working and provides a strong platform for future profitable growth. In the next phase of our strategy we will accelerate growth in areas of strength, in particular in Asia and from our international network.”; some of the initiatives include investing in wealth in Asia, tapping into China’s Belt and Road project, partnerships and further investment in digital capabilities. Source.