HSBC Singapore is widening its education proposition through the imminent launch of several banking solutions.
The move comes as an HSBC global report – also released today – showing Singaporeans are among the highest financial contributors for children’s tertiary education in the world.
HSBC is entering a period of expansion in its Asian markets, taking the international bank back to focusing on its historic roots. The Asian business is working to meet targets to increase its private banking headcount in the region by two-thirds in five years.
Anurag Mathur, head of retail banking and wealth management said: “Singaporeans place a premium on their children receiving a university education, and they’re prepared to pay for it.
“We have been building our platforms, solutions and capabilities to help Singapore parents and students fund their future – and more is to come.”
Currently, HSBC Singapore supports parents across their children’s education lifecycle including education savings plans; access to overseas banking; access to on-the-ground relationship managers across 66 markets or territories; and the ability to internationally transfer money to children’s domestic and overseas accounts in real-time.