Banking News

HSBC Streamline Banking for Small Businesses in the US

HSBC Streamline Banking for Small Businesses in the US

(16 November 2020 – United States) HSBC United States (US) have recently launched a new platform service in partnership with Biz2Credit to streamline banking services for small businesses. As part of HSBC’s Fusion service, the new platform aims to give small business owners quick and easy access to business finance.

The platform technology owned by Biz2Cedit will improve the accuracy of credit risk decisions on all retail business banking transactions. Consequently, HSBC will be able to reduce the credit risks within its lending portfolio. 

The main benefits of the new platform:

  • Ability to automatically approve loans up to US$100,000
  • Easy access for HBSC staff to process loan application 
  • Configurable rules engine to allow HSBC staff to modify lending criteria when needed

“By using Biz2Credit’s Biz2X Platform, HSBC Fusion delivers a straight-forward and efficient lending process to our small business banking customers, enabling them to spend more time running their businesses without worrying about whether or not they’ll be able to get a loan” commented HSBC US Head of Retail Business Banking, Shaun McDougall

“Our partnership with HSBC opens the flow of capital to small business owners. Through this offering we are helping entrepreneurs bolster their finances, save time and gain quick, easy access to capital” commented Biz2Credit CEO, Rohit Arora
 

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