HSBC has announced the launch of a new multi-market business account opening service.
The British bank on Wednesday said that business and corporate customers will be able to open and manage accounts for multiple business entities in multiple markets from a single dedicated portal.
The portal promises to bring together application forms, secure document exchange functionality, online tracking and eSignature capabilities, in an effort to make international account opening a “seamless experience”.
The service initially rolls out in 20 countries including: Australia, Canada, France, India, Indonesia, Israel, Italy, Luxembourg, Malaysia, Mauritius, Netherlands, New Zealand, Philippines, Republic of Ireland, Singapore, Spain, Thailand, the United Arab Emirates, the United Kingdom and the United States.
HSBC added that the digital account opening portal will be available in Hong Kong, Bahrain, Kuwait and Qatar in Q4 and additional markets in 2024.
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.”
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