trending Market Intelligence /marketintelligence/en/news-insights/trending/_-YOOdBBiryWOkrz8kmcAA2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

HSBC plans to restructure online, telephone banking business First Direct

Blog

Banking Essentials Newsletter - April Edition

Blog

Tracking Credit Risk of a Major U.S. Retailer

Blog

Banking Essentials Newsletter: March Edition - Part 2

Blog

A Bank Takes Its Project Finance Assessments to a New Level


HSBC plans to restructure online, telephone banking business First Direct

U.K.-based HSBC Holdings PLC is planning to restructure its online and telephone banking business, First Direct, the Financial Times reported.

A series of changes over the next year will be aimed at drawing in younger customers to compete with digital rivals such as Monzo, said First Direct CEO Joe Gordon. Customers with limited credit histories will also be allowed to open accounts with the business, the report noted.

Gordon said the lender, which is working on an artificial intelligence-fueled "financial autopilot" and an in-app marketplace, is "making a real digital pivot to tackle the environment as it is now."