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Stock impact report

Former HSBC exec talks career switch to fintech [Yahoo! Finance]

HSBC Holdings, plc. (HSBC) 
US:NYSE Investor Relations: hsbc.com/investor-relations
Company Research Source: Yahoo! Finance
As global head of strategy and business management at HSBC, Brian Muse-McKenney was on the hunt for a fintech partner that could help build a social payments app worthy of competing with AliPay and WeChat in the Hong Kong market. He said he knew the bank had a “massive technology disadvantage” against the internet giants. WeChat's payments function had been around since 2013, and Alipay's was even older. His scouring led him to Austin, Texas-based Episode Six, a fintech which purports to help banks graduate from their legacy payments technology to build innovative products their customers love. With Episode Six's infrastructure, HSBC did just that – and since its 2017 creation, its social payments app PayMe has grown to 70% market share in Hong Kong, Muse-McKenney said. His experience with E6 led HSBC to lead a funding round in support of the firm, and Muse-McKenney joined E6's board. Six years after PayMe was created, he left HSBC to join the firm full on. “What really light Show less Read more
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