(28 December 2020 – Singapore) The year 2020 saw a rapid shift in financial institutions and customers’ adopting digital tools for their financing needs. This trend is expected to continue well into, and even beyond, 2021 according to HSBC Singapore.
The rise of environmental consciousness amongst consumers meant that the future of banking will be one that is both technology-driven and sustainable. Earlier in 2020, HSBC Singapore launched its SME Green Loan product offering, making HSBC the first bank in Singapore to offer green loans designed for SMEs. The service reduces the time, costs, and complexity that SMEs associate with green financing, giving them a more accessible way to grow their operations whilst heading firmly towards a sustainable future.
“2020 has shown us how we need to be agile to weather through unforeseen circumstances and support our clients in times of need. Both digital and sustainability have shot up in the ranks of importance amongst businesses in Singapore,” Cherie Teng, Head of Corporate Banking at HSBC Singapore.
“We hear from our clients that they often want to play a role in the sustainability agenda, but don’t know how or where to begin,” Teng said. “That’s why we’re supporting businesses in accessing easier finance which is specifically allocated to green or sustainability-linked projects.”