Wang Dongsheng: HSBC 3 to 5 years, 16.4 billion extension technology

Wang Dongsheng: HSBC 3 to 5 years, 16.4 billion extension technology

As financial technology becomes more prevalent, traditional banks also need to increase their investment in technology business. Wang Dongsheng, vice chairman and chief executive officer of HSBC, said that he plans to invest 2.1 billion US dollars (about 16.38 billion Hong Kong dollars) in the next five years to develop technology, some of which will be used to cooperate with financial technology companies.

Wang Dongsheng said at the forum yesterday that the group plans to invest 2.1 billion U.S. dollars in technology development in the next three to five years, of which 200 million U.S. dollars (about 1.56 billion U.S. dollars) will be used as investment financial technology to identify different financial institutions and enterprises. Cooperation with financial institutions will become a major trend, and there are always partners with China, the United Kingdom and Australia.

Technology helps people to focus more on customer service

With the gradual recovery of business, HSBC (00005) Chief Executive Fan Ning said earlier this year on Strategic Day that the target is to invest between $15 billion and $17 billion (about 117 billion) by 2020, after adjusted income growth is higher than expenditure growth. To HK$132.6 billion) to drive business growth and technology development. At the local payment level, HSBC launched the e-wallet PayMe last year, and the number of users has exceeded 1 million earlier.

Wang Dongsheng continued to say that he is pleased to see the acceleration of local financial technology development, such as the introduction of virtual banking. The banking industry needs to change, for example, to automate some of the processes, and bank personnel can focus more on customer service. He also stressed that in the future, he will continue to invest a lot of resources to improve network security to maintain customer trust.

Appointed Guangdong Joint CEO to attack the Pearl River Delta

In addition, HSBC China announced the appointment of new personnel. Wang Liwei, Managing Director of Guangdong Industrial and Commercial Finance, and Li Hualun, General Manager of Guangdong Retail Banking and Wealth Management, will concurrently serve as the Chief Executive Officer of Guangdong and jointly lead the HSBC Guangdong Business Team.

Liao Yijian, HSBC China President and Chief Executive Officer, said that Wang Liwei, who has many years of experience in industrial and commercial financial services in the Pearl River Delta region, and Li Hualun, who is familiar with Hong Kong’s retail banking and wealth management business, also serves as the co-chief executive of Guangdong to strengthen personal and business operations. Linkage to promote business growth in the Pearl River Delta region.

In recent years, HSBC has actively expanded its Greater China business, which is mainly based on the Pearl River Delta. The Group announced earlier this year that it will continue to increase investment in the Pearl River Delta region and strive to double its operating income by 2020 and become one of the “scale markets”.