HSBC - Howard Lake

HSBCnet Mobile Gaining Popularity in the Corporate World

May 27, 2015         By: Melanie Macinas

HSBC’s mobile corporate banking platform, HSBCnet Mobile, has recorded $50 billion in payments—proof that mobile banking is increasingly becoming popular with corporate customers.

Banks have mainly invested in mobile innovations dedicated to retail banking customers since the birth of the first mobile banking app. These innovations have made transactions such as cash transfer easier and more convenient for customers.

HSBC reported that 12 percent of HSBCnet customers worldwide are active HSBCnet Mobile users. The bank also sees a huge potential for corporate adoption with 34 percent of British adults estimated to use mobile banking.

Nadya Hijazi, Global Head of PCM E-Commerce said, “The world is on the brink of a new era in mobile payments which will revolutionise the way businesses operate. Since the launch of the HSBCnet Mobile app we’ve seen a marked increase in the use of smartphones and tablets by our corporate customers. At the current rate of growth, we expect to reach USD100bn in the next 18 months.”

Today, mobile banking offers the convenience to do many things such as checking account balances and sending and receiving payments—all in just a few taps. Beyond these, mobile banking still has more to offer, promising new ways of doing business and generating valuable information about a company’s operations that were previously not possible.

“In the mobile world, if you are a creative player and you can adapt quickly you will thrive, gaining at the expense of rivals who are slower to embrace mobile. Mobile for business is both an enabler and a powerful force for change,” commented Diane S. Reyes, Group General Manager and Global Head of Payments and Cash Management, HSBC.