HSBC app was missing targets before bank ditched it

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The story "HSBC app was missing targets before bank ditched it" was covered 13 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 13h ago

HSBC app was missing targets before bank ditched it - Financial Times

Quick Summary:

But some fintechs’ risk controls have attracted regulatory scrutiny, and replicating their speedy customer onboarding systems does not always fall within larger banks’ risk appetite.

By mid-December Zing had attracted nearly 131,000 customers, according to an internal presentation seen by the Financial Times.

The lacklustre growth highlights the difficulty traditional banks have faced in building their own digital solutions to compete with fast-growing start-ups.