HSBC Partners with FinTech Platform NepFin to Bolster Lending Proposition for Middle Market Businesses
27 February 2019 - 12:00AM
Business Wire
HSBC US Commercial Banking today announced that it has teamed up
with Neptune Financial (NepFin) to better serve the capital needs
of middle market businesses in the United States. Through this
partnership, firms doing business with NepFin will now be able to
tap HSBC for commercial banking services and its global network.
This includes businesses with international needs who are based in
markets where HSBC doesn’t have a physical presence or in cities
where there isn’t easy access to multi-national financial
institutions who can serve companies of all sizes.
“This partnership will enable HSBC to extend its global
capabilities and international network to benefit more US
businesses,” said EJ Achtner, Head of Digital Banking at HSBC US
Commercial Banking. “We’re excited to leverage NepFin’s platform to
help more middle market businesses efficiently source capital.”
NepFin, a next-generation financial services company whose
commercial lending platform provides growth capital to mid-sized
businesses with revenue between $10 million and $100 million,
utilizes machine learning and data science to efficiently identify
demand for credit and lower costs. Partnering with HSBC will enable
the firm to strengthen its digital proposition through analytics
and insight.
“HSBC has a long and impressive history serving all types of
businesses throughout the world,” said NepFin CEO and Co-founder
Albert Periu. “We look forward to combining their expertise,
particularly in the middle market, with our digital platforms so
that we can better serve the needs of this important segment.”
According to a recent HSBC survey, middle market businesses in
the US contribute $7.3 trillion in turnover and employ more than
20.7 million people. “This segment is a major contributor to
economic growth in the US. We see companies increasingly looking
for new ways to grow, it’s our job to help them while also
providing a great client experience,” added Achtner.
This development follows a recent announcement about HSBC’s
plans to launch a Digital Partner Platform designed to improve
client experience for corporate customers of all sizes, from large
companies to emerging FinTech firms, through digital enhancements
and partnerships. This is part of a broader effort to create a
digital ecosystem that gives clients access to the capital they
need to grow and succeed.
HSBC Commercial Banking
For over 150 years we have been where the growth is, connecting
customers to opportunities. Today, HSBC Commercial Banking serves
more than two million businesses across the world, ranging from
small enterprises focused primarily on their home markets through
to corporates operating across borders. Whether it is working
capital, term loans, trade finance or payments and cash management
solutions, we provide the tools and expertise that businesses need
to thrive. As the cornerstone of the HSBC Group, we give businesses
access to a geographic network covering more than 90% of global
trade and capital flows. For more information visit:
http://www.hsbc.com/about-hsbc/structure-and-network/commercial-banking
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.
About NepFin:
Neptune Financial Inc. (NepFin), is a technology-enabled
commercial lending platform that provides capital solutions and
financial intelligence tools to fuel the growth of mid-sized
businesses across the United States. Headquartered in San
Francisco, CA, NepFin’s platform serves one the most underserved
sectors of the broader U.S. economy – businesses with between $10
million and $100 million in revenue. NepFin is supported by the
same early-stage investors as FinTech firms SoFi, Funding Circle,
Lending Club and Upgrade. For more information please visit
www.nepfin.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190226005222/en/
HSBC:Matt Wardmatthew.m.ward@us.hsbc.com
NepFin:Eric Hazarderic@fullyvested.com
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