HSBC Holdings plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It is the world's second largest bank. It was founded in London in 1991 by the Hongkong and Shanghai Banking Corporation to act as a new group holding company. The origins of the bank lie in Hong Kong and Shanghai, where branches were first opened in 1865. The HSBC name is derived from the initials of the Hongkong and Shanghai Banking Corporation. As such, the company refers to both the United Kingdom and Hong Kong as its "home markets".HSBC has around 6,600 offices in 80 countries and territories across Africa, Asia, Europe, North America and South America, and around 60 million customers. As of 31 December 2013, it had total assets of $2.671 trillion, of which roughly half were in Europe, the Middle East and Africa, and a quarter in each of Asia-Pacific and the Americas. As of 2012, it was the world's largest bank in terms of assets and sixth-largest public company, according to a composite measure by Forbes magazine.HSBC is organised within four business groups: Commercial Banking; Global Banking and Markets ; Retail Banking and Wealth Management; and Global Private Banking.HSBC has a dual primary listing on the Hong Kong Stock Exchange and London Stock Exchange and is a constituent of the Hang Seng Index and the FTSE 100 Index. As of 6 July 2012 it had a market capitalisation of £102.7 billion, the second-largest company listed on the London Stock Exchange, after Royal Dutch Shell. It has secondary listings on the New York Stock Exchange, Euronext Paris and the Bermuda Stock Exchange. Wikipedia.


Time filter

Source Type

News Article | May 31, 2017
Site: www.businesswire.com

NEW YORK--(BUSINESS WIRE)--US millennials expect to retire at age 58 – earlier than any other western market globally – and are taking a number of steps to make it happen, according to HSBC’s latest Future of Retirement research. To help achieve their earlier retirement goal, the research found that 80 percent of US millennials have already started saving for their retirement, with another three quarters (75 percent) citing plans to cut expenses to save more for retirement. HSBC’s Future of Retirement research, now on its fourteenth edition, surveyed more than 18,000 people across 16 countries to understand trends and key issues associated with retirement. Millennials are savvier and bolder investors than the rest In addition to early retirement plans, millennials in the US are gearing up to increase their retirement savings more than the generations before them. Almost half of US millennials surveyed are willing to take on more risk in their investments to generate wealth. The research also found that investment appetite across other generations is stark. Indeed, only 27 percent of Gen X and 13 percent of Baby Boomers are willing to take on the same risk profile. According to the study, US millennials are yearning to learn with 63 percent of millennials actively seeking information to guide their financial decisions, compared to Gen X (49 percent) and Baby Boomers (34 percent). Despite their expectations and efforts to retire early, economic challenges and longer life expectancy present significant challenges to millennials’ retirement plans. HSBC wealth planning expert Brian Schwartz explained, “While millennials are broadly aware of the economic and demographic challenges they face, they do not appear to have grasped how these factors could hinder their efforts to retire early and comfortably.” For example, the vast majority of respondents (82 percent) anticipate higher healthcare costs in the future, while an additional 56 percent are concerned about declining social safety nets like state pensions and social security. Overall, respondents also anticipate that millennials will live longer than previous generations, suggesting they will to need save for a longer retirement (62 percent). “As a financial advisor, my job is to reconcile the unexpected and unknown with the financial aspirations of my clients,” Schwartz said. Other key findings from HSBC’s Future of Retirement research HSBC Bank USA, National Association (HSBC Bank USA, N.A.), with total assets of US $178.7 billion as of 31 December 2016 (US GAAP), serves 2.4 million customers through retail banking and wealth management, commercial banking, private banking, asset management, and global banking and markets segments. It operates more than 230 bank branches throughout the United States. There are over 145 in New York as well as branches in: California; Connecticut; Delaware; Washington, D.C.; Florida; Maryland; New Jersey; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., an indirect, wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a member of the FDIC. Millennials are those born between 1980 and 1997. The Future of Retirement is a world-leading independent research study into global retirement trends, commissioned by HSBC. It provides authoritative insights into the key issues associated with aging populations and increasing life expectancy around the world. Since The Future of Retirement program began in 2005, over 177,000 have been surveyed worldwide. This is the fourteenth Future of Retirement report in the series and represents the views of 18,414 people from 16 countries and territories: Argentina, Australia, Canada, China, Egypt, France, Hong Kong, India, Indonesia, Malaysia, Mexico, Singapore, Taiwan, United Arab Emirates, United Kingdom and the United States of America. The findings are based on a representative sample of people of working age (21+) and in retirement, in each country or territory. The research was conducted online by Ipsos MORI between November 2016 and January 2017, with additional face-to-face interviews in Egypt and the UAE. HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 4,000 offices in 70 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,375bn at 31 December 2016, HSBC is one of the world's largest banking and financial services organizations. For more information about The Future of Retirement, visit www.us.hsbc.com.


Embodiments of the invention include a computer implemented method for automatically modifying the terms of a plurality of mortgages within a portfolio of mortgages, such that, monthly payments for the plurality of mortgages are reduced. The method includes calculating a current net present value for each of the mortgages in the portfolio of mortgages. The method also includes calculating a plurality of future net present values for each of the mortgages in the portfolio, each future net present value corresponding to one set of modified loan terms. The method also includes selecting the largest calculated future net present value. The method also includes automatically modifying the loan terms of each of the plurality of mortgages where the largest future net present value is greater than the current net present value. Loan terms are modified to correspond to the modified loan terms resulting in the largest net present value.


Patent
Hsbc | Date: 2012-03-05

An apparatus and method for tracking physical locations from which a service is provided are disclosed. The apparatus comprises a communication module operable to send and receive messages, a location identifier and a query element operable to request the communication module to send a location request message for a service. The communication module is operable to receive a location response message responsive to said location request message, said location response message comprising location information for the service; and forward the location information of the service to the location identifier. The location identifier is operable to identify the physical location associated with the location information of the service.


Embodiment of the invention describe methods and systems for verifying customer supplied financial account information verification using debit and credit transactions. These methods include electronically transmitting an electronic debit and credit transaction to the customer financial account, based on the customer supplied financial account information. The method also includes electronically transmitting a first statement descriptor, as part of at least one of the electronic debit transaction and the electronic credit transaction, that includes a first verification code. The method also includes electronically receiving, from the customer, a second verification code, and comparing, by the computer system, the transmitted first verification code with the received second verification code with respect to each other. The method also includes verifying, by the computer system, the customer supplied financial account information based on the comparison of the verification codes.


Embodiments of the invention are directed to system and method for managing parallel development of projects. One embodiment of the invention is a method of automatically managing processes in the parallel development of an application through a graphical user interface. The graphical user interface manages the automated processes, which are able to complete their tasks without further user interaction. The automated processes managed by the graphical user interface include, provisioning a first development environment and second development environment. The processes also includes deploying a second release of an application to the second development environment, and merging modifications to the second source code and the second content of the second release into a first source code and a first content of the first release. After the releases have been merged together, the process automatically deploys the third release of the application to a production environment for use by users.


An application processing engine computer system is configured to process an application for at least one of a product and service using a plurality of coordinated, configurable services. The application processing engine includes an application data management service, an application process flow management service, a decisioning service, an application processing host service, an application activity monitoring service, a queue management service and/or a system maintenance service. Various embodiments are described, including a computer implemented method for processing an application using an application processing engine component and/or module.


An account opening computer system is configured to provide a flexible front end user interface, separating and decoupling the computer implemented user journey from computer implemented business process(es). The flexible front end user interface includes a plurality of portlets and a component-based object-oriented flow configuration to configure and/or navigate the flow of display screens. Various embodiments are described, including a computer implemented method of account opening using a flow configuration.


The present invention provides, in alternative embodiments, a computer architecture and/or computer implemented methods for account opening. In some embodiments, an integrated, component-based technology platform, globally standardized, business configurable account opening processes are separate and decoupled from the user interface screens and are directly manageable by business functionality and/or personnel. In various embodiments, the invention provides pause and resume, save and retrieve, cross-channel, metrics, audit tracking, data logging, and/or straight-through processing capabilities for account opening.


Embodiments of the invention are directed to system and method for managing parallel development of projects. One embodiment of the invention is a method of automatically managing processes in the parallel development of an application through a graphical user interface. The graphical user interface manages the automated processes, which are able to complete their tasks without further user interaction. The automated processes managed by the graphical user interface include, provisioning a first development environment and second development environment. The processes also includes deploying a second release of an application to the second development environment, and merging modifications to the second source code and the second content of the second release into a first source code and a first content of the first release. After the releases have been merged together, the process automatically deploys the third release of the application to a production environment for use by users.


Embodiment of the invention describe methods and systems for verifying customer supplied financial account information verification using debit and credit transactions. These methods include electronically transmitting an electronic debit and credit transaction to the customer financial account, based on the customer supplied financial account information. The method also includes electronically transmitting a first statement descriptor, as part of at least one of the electronic debit transaction and the electronic credit transaction, that includes a first verification code. The method also includes electronically receiving, from the customer, a second verification code, and comparing, by the computer system, the transmitted first verification code with the received second verification code with respect to each other. The method also includes verifying, by the computer system, the customer supplied financial account information based on the comparison of the verification codes.

Loading HSBC collaborators
Loading HSBC collaborators