The bank will utilise Amount, the end-to-end technology platform online lender Avant, to meet the borrowing needs of its customers.
Pablo Sanchez, regional head of Retail Banking and Wealth Management for HSBC argues that as the US unsecured personal loan market is growing at 20% annually, and as it has surpassed USD 125 billion in balances, every year millions of consumers take out a loan to pay for unexpected expenses, consolidate debt or for needed home improvements. HSBC Bank adds personal loans to their product suite, meeting the needs of today’s consumers who want a safe way to borrow money online.
HSBC’s new online lending platform will be available to customers in Q1 of 2019.
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