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HSBC unveils new face for trade services with Global Trade Solutions

The bank outlined plans to give a safer, smoother digital trade experience.

HSBC has unveiled Global Trade Solutions as the new face of its trade finance operations.

Global Trade Solutions, a new identity for the bank’s Global Trade and Receivables Finance (GTRF) business, reportedly builds on HSBC’s 155-year history as a trade bank.

Under its new identity, HSBC said that it plans to serve as global connectors that will help customers know where, how, and with whom they want to trade.

The global bank also promised to provide “safer, smoother digital trade experience, supported with structured working capital solutions” to clients; and to continue serving as trusted partners through growtih, disruption and uncertainty by bringing insights and ideas to its clients to protect and grow their business.

HSBC said that its trade operations give clients access to “90% of global trade flows.” The bank said that it has a network of 1.3 million businesses and relationships with suppliers and buyers. 

In Asia, HSBC is “the largest trade bank in Asia by revenue”, the bank said in a press release, saying that it generates 2.8 times more revenue that the average of its three nearest competitors, based on data from Coalition Greenwich Competitor Analytics – FY23.

HSBC sees much potential in Asia, noting that trade integration in the continent is “advancing rapidly.” Intra-Asian exports are reportedly expected to grow to $7.1t in 2030, from just $4.3t in 2023. Of the world’s top 30 trade corridors, 11 involve Asian economies on both ends, according to HSBC Global Research.

The launch of Global Trade Solutions is just one of the recent changes made by HSBC to its services and operations. Recently, the bank launched UniTransact in Indonesia to streamline cross-border transactions.

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