HSBC Singapore today announced that it has entered into an agreement with Saxo Bank A/S to adopt its end-to-end, self-directed trading infrastructure for equities investments.
The collaboration will enable HSBC Singapore to strengthen its equities investment offering to all retail banking customers, including those residing overseas. By incorporating Saxo’s trading infrastructure to HSBC Singapore’s digital platform, HSBC customers will gain access to new platform functionalities, expanded global market access and enhanced user experience.
Mr Anurag Mathur, Head of Wealth and Personal Banking, HSBC Singapore,
“To meet our customers’ need for best-in-class digital banking and wealth solutions, we need to work with like-minded partners to scale up our digital capabilities at pace. 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.”
Ms Lavanya Chari, Global Head of Investments and Wealth Solutions, Wealth and Personal Banking, HSBC,
“Our customers want investing to be simple, fast and integrated with their everyday banking. Through this collaboration, we’ll be able to accelerate the delivery of a market leading trading platform for our Singapore customers, opening up a world of opportunity and helping them grow their wealth.”
Mr Adam Reynolds, APAC CEO, Saxo,
“We are very excited to enter into this agreement with HSBC which supports Singapore’s position as an International Wealth Hub. Singapore will be the first in HSBC to adopt our trading platform, and we are excited to be combining natural synergies from both companies to deliver an enhanced trading and investment experience for HSBC customers.
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. We look forward to this collaboration which aims to reduce cost and complexity, and accelerate the development of a fully digital wealth experience for HSBC customers.”
In particular, HSBC customers can get a 360 view of their financial holdings including equities in Singapore via HSBC FinConnect which taps on SGFinDex, an industry platform for open banking. They can now open investment accounts for various asset classes including unit trusts and equities; get a consolidated view of their investments via Wealth Portfolio Plus; and update their risk profile, W8-Ben and other investment documents through the Wealth Dashboard, by using their mobile.
In addition, Premier and Jade International customers in Hong Kong and mainland China can open an account with the bank digitally.