HSBC today announces the launch of a market-leading digital solution which allows business and corporate customers to open accounts for multiple business entities in multiple markets, all in one place.

Using a dedicated portal, the streamlined digital application process is fast, simple, and globally consistent, regardless of the market or markets where accounts are being opened.

The unique account opening portal can be accessed online and brings together application forms, secure document exchange functionality, online tracking and eSignature capabilities, making international account opening a seamless experience. At present it is available in the following markets:

David Rice, Commercial Banking Chief Operating Officer at HSBC, said: “Helping businesses operate seamlessly, transact and grow across borders is core to HSBC’s purpose. This service will radically simplify the processes behind this ambition and eliminate long-standing pain points for internationally-minded businesses looking to expand overseas.

“Digital account opening which is standardised by format, process and requirements, significantly improves on an industry-standard characterised as slow, paper-based and inconsistent.”

The digital account opening portal supports both primary and subsidiary accounts. Customers using the portal will also benefit from direct support tools including local language, AI-powered Virtual Assistants; and in-platform communication with local case managers. The service allows for tracking of applications and offers transparent and consistent support throughout the account opening process.

The digital account opening portal will be available in Hong Kong, Bahrain, Kuwait and Qatar in Q4 and additional markets in 2024.