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HSBC takes on fintechs with UK investing feature aimed at younger clients
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cnbc.comLONDON — HSBC is going head-to-head with fintech challengers in the wealth management space, launching a new investing feature aimed at a younger clientele in the U.K.
The British bank said Wednesday it was rolling out a tool on its mobile app that lets people invest in a range of ready-made funds. Customers will need to invest a minimum of £50 ($66.62) to be eligible.
«Around 389,000 of our customers aged under 35 have sufficient assets to invest but are currently not doing so,» James Hewitson, head of wealth management at HSBC U.K., said in a statement. «On top of that, 64% of HSBC customers are digitally active.»
The new service will be available on iOS and Android in the coming weeks.
HSBC already offers an online investment advice
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