HSBC Singapore today announced the launch of HSBC Business Go, a business-to-business (B2B) digital community platform for business owners at the Singapore Fintech Festival 2023.
HSBC Business Go employs machine-learning and API technologies to empower entrepreneurs with the latest markets and business insights, while connecting with like-minded peers across four markets, including Hong Kong, Malaysia, and India.
Through the platform, HSBC Singapore aims to create an ecosystem that encourages businesses to adapt to the rapidly changing market environment through mutual support, idea exchange and experience sharing.
Ms. Amada Murphy, Head of Commercial Banking, South and Southeast Asia, HSBC said: “ASEAN offers huge potential for Singpore-based firms to look overseas for growth opportunities, but we also recognise that it requires a lot of time and resources for companies to that first step. We have developed HSBC Business Go based on client feedback to make it easier for firms to access the insights, expertise, and network that we bring to help them successfully venture overseas.”
ASEAN’s GDP growth exceeds much of the rest of the world: it grew 30% from 2011 to 2021, compared with global growth of 23% over the same period. As a trade bloc, ASEAN’s US$ 3.66 trillion GDP (2022) makes it the fifth largest economy after the United States, China, Japan, and Germany.
Given Singapore’s prominence as a strategic trade hub of the region, local businesses will be well-placed to capture these growth opportunities.
A key feature of HSBC Business Go is International Navigator, an all-in-one I‹nowIedge hub, supported by knowledge contributor, EY. International Navigator provides a holistic view of HSBC-generated market insights, research reports and country guides, as well as up-to-date information on corporate tax, personal tax, international tax, government incentives, foreign direct investment regulations, and currency regulations from EY, making it seamless and fuss-free for firms to gain I‹ey information that will facilitate their expansion overseas.
During the initial phase, International Navigator will offer marI‹et insights on Singapore, Malaysia, and Indonesia, with plans to include other key marI‹ets and add knowledge contributors over time.
In addition, HSBC clients joining the HSBC Business Go platform can choose to have the added convenience of having their financial statements directly IinI‹ed to their existing account with Xero, an accounting software for small businesses.
Singapore is the fourth marI‹et in HSBC to offer HSBC Business Go to local businesses. The community-led platform has since attracted over 130,000 users and generated around 450,000 monthly page views across Hong Kong, Malaysia, and India, demonstrating the convening power of HSBC, one of the largest commercial banks in the world.
Mr Temi Ofong. Global Head of Customer Channels. Commercial Banking, HSBC, said: “The power of HSBC Business Go is the ability to build a community platform for business owners across the region to gain critical insights and maI‹e connections that will accelerate their growth ambitions beyond their home markets. The strong adoption that we have seen since we first introduced the platform in Hong Kong is a clear demonstration of the value that it brings to business owners.”
Find out more: HSBC Business Go