HSBC Holdings Plc is maintaining its steady approach to technology, adopting new tools only when they offer clear, practical benefits to clients—even as AI advances at a rapid pace.
Senior leaders told Asian Banking & Finance that breakthroughs in technology, especially increasingly autonomous agentic AI, make strong human judgment and regulatory oversight more critical than ever.
“You can have all the technology, but it needs to solve a problem for the customers,” said Winnie Yap, head of Global Payments Solutions at HSBC Singapore, during the Singapore Fintech Festival 2025.
She added that supporting clients today also means supporting the consumers they serve. A business dealing with end-users may need to manage cards, e-wallets, and Singapore’s PayNow—an increasingly complex mix that can overwhelm companies, Yap said. HSBC’s role is to streamline this into a unified solution clients can extend to their own customers, noting that technology alone isn’t enough.
“Clients still very much value the thought leadership and advice you bring to the table,” she said.
Shayan Hazir, HSBC’s chief digital officer for Asia (excluding Hong Kong) and the Middle East, North Africa and Turkey, said innovation isn’t about churning out tools; it requires strong governance to ensure AI remains safe, reliable, and aligned with human values.
“We have to create human guardrails so we can retain our creativity, compassion, collaboration, and conscience,” he said, noting these traits don’t easily translate to AI systems. As models become more powerful, human oversight becomes even more essential.
Hazir stressed that AI must be ethical, well-regulated, and protected, given its potential for hallucinations and inaccurate reasoning. The goal isn’t to limit advanced AI but to deploy it responsibly.
“We need to make sure there’s a human in the loop, with proper governance and safeguards,” he said.
HSBC also sees growing demand for real-time data, especially from treasurers who now play a strategic role as shifting US–China tariffs reshape trade flows. “Information is power—data is power,” Yap said, adding that even simple tools like APIs can help.
Blockchain is supporting HSBC’s work on tokenised deposits and powering cross-border real-time transfers.
Digital commerce is another key trend, with more than 80% of business-to-consumer payments in Singapore now made digitally, according to HSBC. Yap said the bank is equipped to help clients at every level of digital readiness—from those already testing tokenised deposits to those still catching up.
Hazir concluded that innovation depends on breaking down organisational silos. “The idea is: How do we gather around problems and opportunities?” he said. “That’s when technology delivers real outcomes—otherwise we’re just learning for the sake of learning.”
Click here for more on Banking
