FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / Blogs / Read Blog

Print

HSBC Partners with Fintech NepFin to Strengthen Middle-Market Footprint

February 28, 2019, 07:10 AM
By
Topic: Banking News

HSBC US Commercial Banking announced that it has teamed up with Neptune Financial (NepFin) to better serve the capital needs of middle market businesses in the United States. Through this partnership, firms doing business with NepFin will now be able to tap HSBC for commercial banking services and its global network. This includes businesses with international needs who are based in markets where HSBC doesn’t have a physical presence or in cities where there isn’t easy access to multi-national financial institutions who can serve companies of all sizes.

“This partnership will enable HSBC to extend its global capabilities and international network to benefit more U.S. businesses,” said EJ Achtner, Head of Digital Banking at HSBC US Commercial Banking. “We’re excited to leverage NepFin’s platform to help more middle market businesses efficiently source capital.”

NepFin, a next-generation financial services company whose commercial lending platform provides growth capital to mid-sized businesses with revenue between $10 million and $100 million, utilizes machine learning and data science to efficiently identify demand for credit and lower costs. Partnering with HSBC will enable the firm to strengthen its digital proposition through analytics and insight.

“HSBC has a long and impressive history serving all types of businesses throughout the world,” said NepFin CEO and Co-founder Albert Periu. “We look forward to combining their expertise, particularly in the middle market, with our digital platforms so that we can better serve the needs of this important segment.”

According to a recent HSBC survey, middle market businesses in the U.S. contribute $7.3 trillion in turnover and employ more than 20.7 million people. “This segment is a major contributor to economic growth in the US. We see companies increasingly looking for new ways to grow, it’s our job to help them while also providing a great client experience,” added Achtner.

This development follows a recent announcement about HSBC’s plans to launch a Digital Partner Platform designed to improve client experience for corporate customers of all sizes, from large companies to emerging FinTech firms, through digital enhancements and partnerships. This is part of a broader effort to create a digital ecosystem that gives clients access to the capital they need to grow and succeed.

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.