Banking major HSBC and start-up incubator T-Hub have joined hands to launch an accelerator programme for start-ups working in the fintech space. Under the initiative, a maximum of 10 start-ups are to be identified for the accelerator programme devised by the HSBC. The selected start-ups would work with HSBC – for which a dedicated space has been taken at T-Hub – on technology products for the banking sector.
The call for application from start-ups would open next month. The 12-week accelerator programme would begin in April. T-Hub CEO Jay Krishnan and Head of Operations, Global Service Centres of HSBC Paul Raddon on Thursday exchanged the MoU documents. The aim of this partnership is to leverage global innovation ecosystem and apply innovative products and solutions developed by the start-ups to banking operations. Fintech start-ups and developers are be invited to identify and apply new solutions.
Providing a backdrop for the partnership is the PwC-2017 report, that says spending of financial services firms on advanced technology is rising slowly, and projected that by 2019, the amount spent on mobile, cloud and big data analytics would be $142.5 billion. “Technology and innovation are rapidly changing the way customers want to access banking services, so HSBC wants to try new ways of doing things. This collaboration with T-Hub is an opportunity for HSBC to partner with innovative start-ups to help us deliver products and services in ways that are simpler, better and faster for our customers,” Mr. Raddon said.
HSBC Global Service Centres across five cities in India and in six other countries, support the operations of its global businesses by performing the processing and analytical tasks, to fulfil customer payments, transactions, regulatory compliance and everyday banking needs.
