HSBC Bank Joins MIT’s Industrial Liaison Program
December 07 2017 - 11:00AM
Business Wire
The partnership with MIT, one of the world’s
leading research institutions, will help to power HSBC’s innovation
strategy
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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HSBC Media:Steve Goewey,
212-525-5677stephen.x.goewey@us.hsbc.com
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