HSBC and Saxo partner to expand digital investment offerings in Singapore

HSBC Bank (Singapore) Limited has revealed its collaboration with Saxo Bank A/S to adopt its end-to-end, self-directed trading infrastructure for equities investments.

Their partnership will strengthen HSBC Singapore’s equities investment offering to retail banking customers, including the ones located overseas. The incorporation of Saxo’s trading infrastructure to HSBC Singapore’s digital platform, will grant HSBC customers access to new platform functionalities, expanded global market access and enhanced user experience.

Anurag Mathur, Head of Wealth and Personal Banking, HSBC Singapore, said:

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.

Adam Reynolds, APAC CEO, Saxo, commented:

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.

HSBC recently announced strong performance during the third quarter of 2021 with $5.4 billion in profits and a 74% YoY jump.

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