November 2, 2018
In the modern global economy of diminishing borders, a sustainable competitive advantage can be reached by exploring opportunities outside domestic/established markets. That is why strategic cash management and enhanced visibility for making faster, smarter business decisions is vital to success.
The evolution of the bank-FinTech narrative from competition to hybrid strategy, including innovation arms working on collaboration with startups to launch products or enhance existing offerings, enabled progressive financial institutions to accelerate innovation adoption and retain a competitive position in modern – borderless – economies.
With the aim to be where the growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people to fulfill their hopes and realize their ambitions, HSBC, one of the largest and most progressive institutions globally, serves more than 38 million customers. HSBC uses digital technology to make it simpler, better and faster for its customers to bank with HSBC while keeping their money safe and their data secure.
Given that more than 50% of HSBC’s client revenue derives from businesses and individuals with an international presence, through partnerships, its venture arm, and challenges, HSBC is working with innovative companies from around the world to harness the next generation of technology.
With its HSBC Edge program, run in partnership with MEDICI, HSBC is looking to identify FinTech companies/startups with products and solutions around global liquidity and cash management.
Shortlisted startups will get an opportunity to pitch their solutions to the judging panel, including HSBC India Global Liquidity and Cash Management (GLCM) senior management and a representative of National Payments Corporation of India (NPCI) on Pitch Day in the second week of December.
Through HSBC Edge HSBC is looking to identify FinTech companies/startups with products and solutions in the following areas:
Sector-specific last mile payment solutions
Universal payments platform
More details about the solutions HSBC is looking for can be found here.
Early-stage or matured startups with an MVP addressing any one of the defined problem statements.
Startups should have a working model already with one or more clients anywhere around the world.
Applying startups can be located anywhere globally, with a presence in India, and should have been operating for at least a year.
Click here for applications instructions if you already have a profile in MEDICI platform.
Click here for application instructions if you are a new startup registering on MEDICI platform.
Applications open: October 24, 2018
Applications deadline: November 23, 2018
HSBC will contact selected startups: November 30, 2018
Pitch Day: The second week of December 2018
A Pitch Day would be held in the second week of December 2018 by HSBC for startups to present their proposed solutions in front of the jury. The jury would consist of HSBC GLCM India’s senior management and a representative from the National Payments Corporation of India (NPCI).
HSBC India will look to partner with the successful startups and will work towards creating and/or commercializing the proposed ideas and solutions.
HSBC GLCM provides corporate and financial institutions with a suite of solutions and products to help them do business every day. HSBC GLCM helps clients to:
Move their cash: Receivables from their clients and consumers and payables to staff or suppliers – optimize working capital by providing more control over when and how payments/collections are processed.
Have visibility, control, and access to their cash: How much is placed across accounts, geographies, and currencies.
Invest their cash: Helps clients manage their liquidity to ensure they make their cash work hard for their businesses.