HSBC has unveiled a digital platform that enables both business and corporate clients to establish accounts for multiple commercial entities across various markets, all from a single location.

Through a specialised online portal, the digital application procedure is swift, straightforward, and uniformly applied across all markets where accounts are being set up.

This portal for initiating accounts is accessible online and consolidates application forms, secure document transfer features, real-time tracking, and eSignature functionalities, thereby streamlining the process of international account creation. The portal is currently operational in these select markets:

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 portal for account initiation accommodates both main and subsidiary accounts. Clients utilising the portal will gain from supplementary support tools, including local language options, AI-driven Virtual Assistants, and direct in-platform communication with local case managers. 

The service provides application tracking and delivers transparent, consistent assistance throughout the account setup process.

The digital portal will be rolled out in Hong Kong, Bahrain, Kuwait, and Qatar in the fourth quarter, with further markets to follow in 2024.

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