HSBC Bank, one of the world’s largest banking and financial services
organizations, today announced its partnership with the Massachusetts
Institute of Technology (MIT), and participation in its Industrial
Liaison Program (ILP). The program is dedicated to creating and
strengthening mutually beneficial relationships between MIT and
corporations worldwide. HSBC held a kickoff summit at MIT in Cambridge,
MA, on November 30 and December 1.
"It’s incredibly exciting to partner with a world-class institution like
MIT,” said Vittorio Severino, HSBC USA’s Chief Operating Officer. "This
partnership strategically positions HSBC to leverage a myriad of MIT’s
resources well beyond its core academics and research. Access to labs,
technical know-how, startups, and of course, top talent will ensure that
we stay at pace with the rapidly evolving banking environment. More
importantly, it will enable us to use technology and data and analytics
to provide better services and more innovative products to our clients.”
Through the partnership, HSBC will be able to monitor research
development, identify and make use of MIT resources of interest, arrange
expert face-to-face meetings with faculty, and leverage innovation from
MIT-connected startups. The partnership also provides HSBC with the
ability to attract and recruit top talent from the university.
"As a bank, we are in the business of trust,” said Jeremy Balkin, Head
of Innovation for HSBC’s US Retail Banking and Wealth Management
business. "With more and more disintermediation and technological change
happening across the banking industry, the need to innovate and adapt to
meet our customer’s changing needs is paramount. This partnership
provides us with access to the latest thinking across several fields
that will help guide our overall innovation strategy moving forward.”
As part of HSBC’s continued innovation efforts, the US bank has spent
more than $125 million as part of its retail transformation program.
Through this initiative, HSBC has introduced technology such as voice
biometrics, Touch ID, a new online banking portal, improved ATMs and
more, in the effort to make the banking experience for clients simpler,
better and faster.
HSBC Bank USA, National Association (HSBC Bank USA, N.A.), with
total assets of US$191.9bn as of 30 June 2017 (US GAAP), serves
customers through retail banking and wealth management, commercial
banking, private banking, asset management, and global banking and
markets segments. It operates 229 bank branches throughout the United
States. There are 146 in New York as well as branches in: California;
Connecticut; Delaware; Washington, D.C.; Florida; Maryland; New Jersey;
Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the
principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC
North America Holdings Inc. HSBC Bank USA, N.A. is a Member of the FDIC.
HSBC Holdings plc, the parent company of the HSBC Group, is
headquartered in London. The Group serves customers worldwide from
around 3,900 offices in 67 countries and territories in Europe, Asia,
North and Latin America, and the Middle East and North Africa. With
assets of US$2,492bn at 30 June 2017, HSBC is one of the world’s largest
banking and financial services organizations.
MIT Industrial Liaison Program
The Industrial Liaison Program (ILP) is industry’s most comprehensive
portal to MIT, enabling companies worldwide to harness MIT resources to
address current challenges and to anticipate future needs. The ILP helps
company executives monitor MIT research developments, identify MIT
resources of interest to member companies, arrange expert face-to-face
meetings with MIT faculty, and advise members on research sponsorship
and technology licensing opportunities.
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