HSBC uses biometric technology to improve the experience of customers

HSBC has appointed a panel of experts to help the bank to take advantage of innovations in technology.

The Technology Advisory Board will provide advice and guidance on HSBC’s technology and digital strategy, helping the bank to capitalise on opportunities in areas such as artificial intelligence, biometrics, blockchain technology and data science. In particular it will focus on new trends in financial technology, cybersecurity and IT infrastructure.

The board comprises CEOs, scientists and entrepreneurs from China, India, Israel and the US. They include:

  • Mickey Boodaei, CEO of Transmit Security, cybersecurity expert

  • Steve Kirsch, CEO of Token, open banking expert

  • Chris Larsen, Executive Chairman of Ripple, expert in blockchain

  • Megan Quinn, General Partner at Spark Capital, Silicon Valley Venture Capital

  • Dr Kira Radinsky, Chief Scientist at eBay, machine learning and data science expert

  • Haoyu Shen, former CEO of JD.com, ecommerce and internet expert

  • Dr Gurjeet Singh, CEO of Ayasdi, artificial intelligence expert

“The Technology Advisory Board is key to helping us adopt technology that makes HSBC simpler, better and faster for our 46 million customers and 250,000 colleagues across our global network,” said Andy Maguire, Group Chief Operating Officer and Chairman of the Technology Advisory Board, HSBC.

The Technology Advisory Board is key to helping us adopt technology that makes HSBC simpler, better and faster

“We have made significant progress in the last couple of years, including more recently becoming the biggest financial services user of biometrics globally, through Touch ID, Voice ID and facial recognition, and through our participation in a first proof of concept of blockchain in trade finance.”

HSBC has technology labs in in the UK, India and China and works with dozens of technology companies around the world. It also has tie-ups with research institutions to advance its digital capabilities.

Last year the bank signed an agreement with The Alan Turing Institute in the UK to work with scientists from across the country using big data analytics to understand economic trends. HSBC also agreed a partnership with the government-funded Hong Kong Applied Science and Technology Research Institute to develop the next generation of banking technology at a new lab.

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