From left: HSBC Bank Malaysia head of retail banking and wealth management Tara Latini, HSBC Asia-Pacific regional head, retail business banking Satyam Agrawal and HSBC Bank Malaysia head, retail business banking Linda Lim at the launch of HSBC Fusion.
KUALA LUMPUR: A new financial proposition that caters to small business owners to better manage their finances was unveiled recently.
Known as HSBC Fusion, it is designed to the meet the needs of customers of small businesses whose personal and professional lives are increasingly interconnected.
By integrating business and personal banking in this new offering, HSBC Fusion provides business banking customers more clarity into their finances, helping them save time and get ahead with easy access to funding, advice and opportunities.
HSBC Malaysia head of retail banking and wealth management Tara Latini said in a statement: “Malaysia’s small and medium enterprises (SMEs), comprising 98.5% of the country’s business community, contribute more than one-third to our economy. They are a key growth engine and HSBC is committed to provide best-in-class financial services to help these business owners succeed.”
“After all, small businesses are not small versions of big businesses. They have distinctive needs, and their owners’ lives are often blended with their business.
"With an established retail banking and wealth management franchise, connected to an unparalleled international footprint and a full range of banking capabilities, and a solid commitment to invest here in the long term, HSBC has a unique advantage to support this important segment in Malaysia.”
HSBC Fusion customers receive the support of a dedicated relationship manager to attend to their business and personal banking needs helping them make better decisions.
Additionally, they have access to a highly trained Contact Centre team who can help them with both their personal and business needs. The customers can apply for funding as well as take advantage of a single internet banking platform providing views of their business and personal accounts.
Meanwhile, HSBC Asia-Pacific regional head, retail business banking Satyam Agrawal said: “In Asia-Pacific, SMEs comprise 98% of enterprises and employ almost half of the workforce1. But the reality is most banks do not have a proposition that caters to the unique needs of a SME. As per research, over 79% of SMEs are either under or unserved in emerging markets today.
“At HSBC, we understand that small business owners require much more than just a bank. They need a financial partner who recognises their particular needs and is able to stand with them throughout their journey as a business entrepreneur as well as an individual with increasing aspirations for themselves and their families.
"HSBC Fusion understands the goals, challenges and everything in-between of a small business owner and we will continue to help them lead fuller lives.”
On top of personal financial solutions, Fusion also provides customers with a business package, which includes a number of digital banking tools such as HSBCnet online banking portal, essential business solutions related to lending, accounting and merchant payments, as well as employee benefits under HSBC’s payroll service Perks@Work.
As their business progresses, they also can benefit from better rates, access to value-added services and insights, new opportunities to grow, as well as exclusive privileges.
HSBC has successfully introduced Fusion in several other markets globally including the USA, Mexico, Argentina, France and Malta. After China, Malaysia is the second market within Asia Pacific to offer HSBC Fusion to its customers.
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