British banking giant HSBC is reportedly planning to bolster headcount at its technology development centres in China by more than 1,000.
The move is part of the bank’s plan to focus on improving digital technologies to deliver faster retail banking and wealth management services.
HSBC hiring: Details
HSBC chief information officer Darryl West told Reuters that the bank will bolster its workforce in China by 14%.
Currently, the British lender employs 7,000 people across its technology centres in Guangzhou, Shanghai and Xi’an.
The Guangzhou centre is the bank’s biggest facility in China employing more than 5,000 people.
These centres develop risk and fraud management technologies as well as digital applications. These Chinese facilities also deliver banking products to HSBC’s global network.
West was quoted by the news agency as saying: “There is a lot more we can do with technology in mainland China. The level of technology adoption and innovation in China is way ahead of other markets.
“We see mainland China as a tremendous source of talent, not just for the local market but our technology operations globally. We are hiring very aggressively here.”
Last year, HSBC CEO John Flint said that the bank will invest $15bn to $17bn in the following three years.
A major section of this investment will be directed towards technological development and China.
Apart of China, HSBC employs more than 10,000 people at technology centres in the UK, the US, Canada, Hong Kong and India.