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HSBC is getting into the social game

HSBC has launched HSBC Connections Hub, a platform to keep its business clients connected to each other through a specialized business hub. Resembling LinkedIn, the platform is specific to HSBC business customers. The network, which began a test phase in November 2016, is available free of charge for business customers based in Canada, the U.S., the U.K., mainland China, Hong Kong, India, Mexico and Singapore. It is a multilingual platform that lets companies post organizational profiles and content on a “what’s new” page. What’s different about it is that it uses machine-learning algorithms to ‘match’ companies with potential partners. Richard Davies, global head of propositions at HSBC, said the initiative is part of the bank’s efforts to have value-added services to its clients beyond traditional banking services.

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