HSBC has formed an advisory board to provide it with guidance on its technology and digital strategies — particularly in financial technology, cybersecurity and IT infrastructure.
The CEOs, scientists and entrepreneurs who sit on the board will help the bank capitalize on opportunities in areas like artificial intelligence, biometric security, blockchain technology and data science.
Members of the board include Mickey Boodaei, cybersecurity entrepreneur and CEO of Transmit Security; Steve Kirsch, open banking expert and CEO of Token; Chris Larsen, blockchain expert and executive chairman of Ripple; Megan Quinn, general partner at Spark Capital, Silicon Valley Venture Capital; Kira Radinsky, a machine learning and data science expert and chief scientist at eBay; Haoyu Shen, an ecommerce and internet expert and CEO of JD.com; and Gurjeet Singh, artificial intelligence expert and CEO of Ayasdi.
The board members’ expertise will be key in making HSBC a “simpler, better and faster” bank for its 46 million customers and 250,000 employees, Andy Maguire, group chief operating officer and chairman of the Technology Advisory Board, said in a Tuesday news release.
“We have made significant progress in the last couple of years, including more recently becoming the biggest financial services user of biometrics globally, through Touch ID, Voice ID and facial recognition, and through our participation in a first proof of concept of blockchain in trade finance,” Maguire said.
HSBC launched voice recognition and touch security services in the U.K. early last year and later began offering facial recognition technology, allowing U.K. businesses to open new accounts with selfies instead of passwords. In August HSBC completed its blockchain proof of concept with Bank of America Merrill Lynch using Hyperledger's protocol.