HSBC Singapore launches open banking service FinConnect
HSBC Singapore today announced the launch of HSBC FinConnect, a new feature within the HSBC Singapore mobile app that enables customers to consolidate their financial information across seven participating banks and MyInfo into one single view.
HSBC FinConnect leverages the newly launched Singapore Financial Data Exchange (SGFinDex), which links various data sources from participating banks and MyInfo to financial planning applications.
HSBC is one of the seven pioneer participating banks linked to Singapore's new digital infrastructure, SGFinDex. FinConnect provides unique view of over 80 currency types including AUD, GBP, HKD and USD for deposits & unit trusts holdings.
Given HSBC customers typically have international needs [...] having a clear view of their financial information via HSBC FinConnect will enable us to better guide them on their financial health and fitness."
HSBC said the feature supports holistic planning based on internationally-minded customers' financial goals and wealth needs.
Anurag Mathur, head of Wealth and Personal Banking, HSBC Singapore, said: "Planning for one's financial health today and in the future has never been more important. Our ability to leverage SGFinDex will enable us to gain deeper insights on our customers which in turn would help us better tailor and provide a holistic financial plan."
"Given HSBC customers typically have international needs, be it for their children's education or investment opportunities, having a clear view of their financial information via HSBC FinConnect will enable us to better guide them on their financial health and fitness."
"The differentiation that HSBC offers is not just about the convenience that HSBC FinConnect brings, but how we can help customers make informed and appropriate decisions. While customers often want banking services to be modern and responsive, they also want to be certain that their money and information are kept safe. This is why HSBC continues to build capabilities that can support a blend of digital and human interactions," Mathur added.
HSBC FinConnect is available to HSBC Singapore customers holding a valid SingPass account from 8 December 2020 onwards.
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