HSBC launches ‘social network’ for traders

Technology Update | 9 June 2017

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HSBC has launched a digital networking platform (similar to a social network) for business customers to connect with other businesses from across the world.

The HSBC Connections Hub’s biggest selling point is that buyers and sellers on the platform are trusted customers of HSBC, therefore increasing confidence that the business contact is genuine.

The service will be available to customers based in the US, Canada, China, Hong Kong, India, Mexico, Singapore and the UK, with further countries expected to be added later in the year. 

“Researching and connecting with new business partners can be a daunting task, and one that gets harder with distance. We have designed the HSBC Connections Hub to help break down barriers for companies of all sizes that aspire to forge new business relationships at home and overseas,” said Richard Davies, global head of propositions for HSBC.

“Every business interacting through the Hub is an HSBC customer, giving users confidence that they already have one practical connection in common.”

In a similar fashion to social networks, customers create a profile, list their products and services, and are then matched with potential buyers and sellers from across global markets.

The platform has so far attracted almost 500 business customers. 

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