HSBCs

HSBC has launched a new product called Zing focused on international transfers to better compete with fintech companies like Wise (formerly TransferWise) and Revolut. Bloomberg wrote that the app was on its way to the App Store and Play Store a couple of days ago. It is now officially out, so let’s have a look at what HSBC offers and if it’s indeed a competitive service. Zing is completely separate from HSBC’s existing banking products. You don’t need an HSBC bank account to use Zing. Zing also has a completely…

Workers at HSBC HSBC 1.26% Holdings PLC’s Chinese securities subsidiary have formed a unit that represents the Communist Party, in the latest instance of the party establishing a presence inside a foreign company.As few as three workers have formed a party branch at HSBC Qianhai Securities, a Shenzhen-based investment bank owned by HSBC, people familiar with the matter said. London-based HSBC owns 90% of the company after increasing its stake this spring. HSBC said the…