The new digital lending platform, powered by
the leading end-to-end technology platform Amount, provides U.S.
consumers with a simple way to apply for personal loans online
HSBC Bank USA, N.A., (HSBC), part of the HSBC Group, one of the
world’s largest banking and financial services organizations, today
launched its digital lending platform powered by industry-leading
end-to-end technology platform Amount. The new digital lending
platform provides U.S. consumers a simple way to apply for personal
loans online.
HSBC is leveraging Amount’s technology platform and digital
capabilities, which have been used to originate nearly $6 billion
in loans to meet the personal lending needs of more than 800,000
consumers. With the Amount platform powering HSBC’s online lending,
customers can evaluate their loan options and complete a loan
application quickly and easily online. Approved customers can
receive funds as quickly as the next day. Initially, HSBC will lend
amounts up to $30K with terms ranging from two to five years.
“We listened to our customers and understand the market
intimately,” said Marcos Meneguzzi, Head of Cards and Unsecured
Lending, Retail Banking and Wealth Management, HSBC USA. “With the
launch of this product we’re addressing a significant customer need
and tapping into a rapidly growing segment of the consumer lending
marketplace. “Millions of Americans carry balances at high interest
rates, and unfortunately, unexpected expenses pop up every day.
We’re providing a safe, transparent, fast and easy way to borrow
money online at fixed rates with no origination or pre-payment
fees. With fixed monthly payments that start 50 days after
customers are funded, we’re helping them better manage their
financial lives.”
According to Meneguzzi, having easy-to-use and convenient access
to personal loans has become mainstream. Consumers expect a simple
online application process from their desktops or mobile devices,
credit decisions to be made in minutes and, if approved, for the
borrowed funds to be deposited directly into their bank account
within the next business day.
“By partnering with Amount, one of the clear technology leaders
in this space, we’ve enhanced our agility and speed-to-market to
better service our clients,” Meneguzzi said. “This platform further
enables HSBC to grow our business beyond our physical footprint
while maintaining our focus on high-quality customers who want to
build a broader relationship with the bank.”
The Amount platform has been customized to HSBC’s
specifications, including proprietary risk models, allowing the
bank to implement a proven online lending platform with a seamless
brand and customer experience.
“Going digital allows financial institutions to make lending
easier for today’s consumers who expect instant and seamless
interactions,” said James Paris, Head of Amount. “Our technology
provides HSBC with access to an industry-leading, multi-product
digital lending platform that’s already been refined based on years
of risk models, data and experience, and is customizable to meet
the specific needs of our customers.”
To learn more, go to HSBC Personal Loans
(www.us.hsbc.com/personal-loans/).
HSBC Bank USA, National Association (HSBC Bank USA, N.A.)
serves customers through retail banking and wealth management,
commercial banking, private banking, and global banking and markets
segments. It operates bank branches in: California; Connecticut;
Washington, D.C.; Florida; Maryland; New Jersey; New York;
Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the
principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of
HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a Member of
FDIC. Investment and brokerage services are provided through HSBC
Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance
products are provided through HSBC Insurance Agency (USA) Inc.
HSBC Holdings plc, the parent company of the HSBC Group,
is headquartered in London. HSBC serves customers worldwide from
offices in 65 countries and territories in our geographical
regions: Europe, Asia, North America, Latin America, and Middle
East and North Africa. With assets of US$2,751bn at 30 June 2019,
HSBC is one of the world’s largest banking and financial services
organisations.
Amount provides financial institutions with a range of
products and services designed to deliver a seamless digital and
mobile customer experience. Amount includes configurable end-to-end
lending products, standalone engines, marketing, risk and
data/analytics services, and CRM and portfolio management tools.
The Amount platform leverages the technology, intellectual property
and capabilities of Avant’s industry-leading digital lending
platform. With Amount, banks now have access to a fully
customizable platform that includes tools for credit decisioning,
fraud prevention, account verifications, risk assessment, marketing
and customer acquisition and more. For more information, visit
www.amount.com.
Avant is a high growth financial technology company first
and foremost dedicated to creating responsible financial products
for all consumers. Avant has secured more than $4 billion in
institutional funding and has issued over 750,000 personal loan,
auto loan and credit card products through its technology platform.
Avant has been featured in publications such as The Wall Street
Journal, The New York Times, TechCrunch, Fortune, Bloomberg and
Crain's Chicago Business. In 2015, Avant was named to Forbes
America's Most Promising Companies list as well as Forbes list of
Next Billion Dollar Startups. Find out more at www.avant.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190812005051/en/
Media: HSBC Bank USA, N.A. Matt Klein 212.525.4644
matt.klein@us.hsbc.com Amount
Maria LaGiglio 312.610.9870 Maria.lagiglio@avant.com
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