HSBC Hong Kong launches digital investment account opening service

By Edil Corneille

HSBC Hong Kong has announced that its personal customers can now open an investment account 24/7 remotely without the requirement of visiting the bank’s branch. This especially holds significance in wake of the COVID-19 pandemic where social distancing is the norm and customers are wary of venturing out of the comfort of their homes.

By logging on to the HSBC HK Mobile Banking App, eligible customers can complete the investment account opening procedure in a couple of minutes by six steps solely on their mobile, including submitting their address proof.

Sami Abouzahr, Head of Customer Wealth, Wealth and Personal Banking, Hong Kong said, “We are committed to making wealth management services accessible to everyone in Hong Kong through our enhanced digital capabilities. With this new service, customers can now manage their wealth entirely on mobile – open bank and investment accounts, complete their risk tolerance assessment and invest in a range of products. They can also review their portfolios on the go with the dashboard on mobile banking.”

Once the investment account is activated, customers who completed the risk profiling questionnaire can access a wide range of investment products and services such as stocks, unit trusts, bonds, structured products or FlexInvest across all channels, including mobile, internet and phone banking, and also through Easy Invest or the bank’s retail outlets.

Recently this month, the bank unveiled its business management API (Application Programming Interface) platform – HSBC Smart Solution – specially designed for small and medium enterprises (SMEs) in the region. As part of the bank’s collaboration with Microsoft Hong Kong, Microsoft Dynamics 365 Business Central, an Enterprise Resource Planning (ERP) tool, has been integrated into the HSBC Smart Solution, giving SMEs a clear overview of their operations and seamless payment management.

The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 64 countries and territories. With assets of US$2,923 billion as of June 30, 2020, HSBC has mentioned that it is one of the world’s largest banking and financial services organisations.