FinTech news in hsbc category

HSBC Asset Management, the investment arm of Britain HSBC Group, has led a seed round of $4 million in Singapore’s customer intelligence and risk assessment startup Bizbaz, the two said Friday. The startup is exploring to deploy its solutions within parts of HSBC in Asia and Europe, Hakobyan said, adding that it would continue to have the autonomy and the ability to bring in other partners as well as customers including new banks and insurance companies. The startup also aims to upgrade its Web presence, recruit more data and software developers as well as data and behavioral analysts and spend some resources on product development, Hakobyan told journalist. The development team at Bizbaz mainly works from the Middle East, while its data team is in India and its sales, business development and product teams operate from Southeast Asia.

An investment is typically part of a broader strategic play by the banking industry juggernauts, and Monese’s latest tie-up is no different — HSBC is looking to leverage Monese’s banking-as-a-service platform, which it unveiled last year to help other financial institutions easily develop online money management and related digital services.