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HSBC launches mobile equities service in the UAE

By Leandra Monteiro

May 24, 2022

  • equities
  • Exchange Traded Funds
  • Fixed Income

HSBC HSBC customers in the UAE can now buy and sell equities and Exchange Traded Funds (ETFs) using their mobile phones with the launch of the bank’s Mobile Equities service.

Mobile Equities, available exclusively through HSBC’s mobile banking app, offers real-time trading for stocks and ETFs listed on the world’s most active international stock exchanges – the New York Stock Exchange, Nasdaq, the London Stock Exchange and the Hong Kong Stock Exchange – giving customers the ability to trade safely, securely, and simply whenever and wherever they want.

The UAE is the first market in HSBC’s Middle East, North Africa and Turkey (MENAT) region to get Mobile Equities and follows the launch of the bank’s Global Money Account for mobile banking which allows customers to send funds around the clock in real time to any HSBC bank account in 20 countries and territories worldwide in 21 currencies at preferential exchange rates.

“Digitising at scale is one of the four pillars of HSBC’s global strategy that supports our ambition to be the preferred international financial partner for our clients and which makes the UAE – with its outstanding digital infrastructure and strong focus on international wealth management – the perfect place for us to introduce Mobile Equities,” said Nuno Matos, Chief Executive of Wealth and Personal Banking (WPB).

“The UAE is a growing global hub for international wealth management, a key location for customers demanding sophisticated digital wealth solutions, and an important market for HSBC’s wealth and personal banking business globally, which is why we chose to bring Mobile Equities to the UAE after its initial launch in Asia,” Nuno added.

Mobile Equities gives customers access to around 60% of global stock market capitalisation, enabling real-time tracking and trading of holdings at the portfolio and individual securities level at competitive transaction costs and without monthly fees to access the service.

“Our aim is to double our assets under management in our UAE Wealth and Personal Banking business in the next three years by putting the global power of HSBC into every customer’s pocket, offering simpler, smarter and more secure digital banking, blended with the expertise of our qualified advisors,” said Daniel Robinson, HSBC UAE’s Head of Wealth and Personal Banking.

“Our customers are telling us clearly that they value our investments in digital. Around 90% of customers who use our mobile banking app in the UAE, for example, have used the Mobile Wealth Dashboard features we launched in December 2021 to give them access to investment information or view our market insights. We are doubling our digital investments in the UAE and are committed to adding more features and functionality to ensure our digital solutions meet the high expectations of our customers,” Daniel said.

“Introducing equities and ETFs on the mobile app allows customers to take control of their investments in real-time, while our qualified Relationship Managers help customers plan and manage their wealth in line with their agreed goals and risk appetite,” he added.

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