HSBC – Digital Transformation Strategies
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HSBC Digital Transformation Strategies Report Overview
HSBC has been focusing on emerging technologies as a part of its digital transformation strategies. The annual ICT spending of HSBC was estimated at $10.5 billion in 2022. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. HSBC is a provider of banking and financial solutions, it offers retail, business, and commercial banking; private banking; and wealth management services through its subsidiaries.
Total ICT Spending 2022 | $10.5 billion |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators |
External ICT Spend by Segment | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
Technology Theme Focus | Artificial Intelligence, Big Data, Blockchain, Cloud and Payments |
The HSBC Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, ICT spending among others.
Digital Transformation Strategies
In line with its digital strategy, HSBC is focusing on leveraging AI, machine learning, and data analytics to improve online and mobile banking experiences for customers and automate middle- and back-office processes. It is also leveraging AI for risk and compliance management.
To gain more insights on digital transformation strategies and initiatives of HSBC, download a free report sample
HSBC Technology Theme Focus
HSBC is utilizing number of emerging technologies including artificial intelligence, big data, blockchain, cloud and payments to improve operational efficiency and enhance customer experience.
HSBC Technology Focus
To know about other technology themes under focus for the company, download a free report sample
HSBC Technology Initiatives
HSBC has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs over the past few years. For instance, HSBC launched AiPEX, a US equity index that leverages AI for equity investing. AiPEX harnesses the power of IBM Watson and EquBot’s AI and big data capabilities to gather and learn from huge amounts of publicly available and continuously generated data points, including company announcements, tweets, satellite images, and tones of CEOs during earnings presentations. It then applies rules-based algorithms to evaluate 1,000 publicly traded companies, selects potential stocks that are likely to grow, and rebalances portfolios on monthly basis.
For more insights on other technology initiatives of HSBC, download a free report sample
HSBC ICT Spend by Function
- Communications
- Data center
- Network
- Application
- End-user computing
- Service desk
- Management
HSBC ICT Spend by Function, 2022(%)
For more insights on ICT spending by function, download a free report sample
HSBC ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
HSBC ICT Spend by Channel, 2022(%)
For more insights on ICT spending by channel, download a free report sample
HSBC External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
HSBC External ICT Spend by Segment, 2022(%)
For more insights on external ICT spending by segment, download a free report sample
Scope
This report provides:
- Insight into HSBC’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering product launches, partnerships, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into HSBC’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various product launches, partnerships, and investments.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of HSBC in 2022?
The annual ICT spending of HSBC was estimated at $10.5 billion in 2022.
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Which was the key ICT spending category by function for HSBC?
Data center was the key ICT spending category by function for HSBC in 2022.
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Which was the key ICT spending category by channel for HSBC?
Internal development and maintenance was the key ICT spending category by channel for HSBC in 2022.
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Which was the key ICT spending category by segment for HSBC?
Software (including cloud SaaS) was the key ICT spending category by segment for HSBC in 2022.
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What are the key technology themes in focus for HSBC?
The key technological theme in focus for HSBC are artificial intelligence, big data, blockchain, cloud and payments.
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