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HSBC UK launches SME mobile-first banking service

HSBC Kinetic is launched to make business banking simpler, faster and more intuitive

HSBC UK recently announced the launch of HSBC Kinetic, an SME mobile-first banking service, according to the media. It is considered a truly mobile-first banking service against a bank account with mobile features. This will help small businesses of forward-thinking to work smart irrespective of their agility or financial base.

HSBC Kinetic was developed with insights from 3,000 small business owners to ensure it is designed to make business owners’ lives easier. The application is available for download on both iOS and Android via the Apple App Store and Google Playstore respectively.

The application allows the business owners to create an account in minutes and once approved, customers can order a debit or credit card. They can then use the app to maintain their business payments including Direct Debits, standing orders and future payments with ease. It also indicates where their money is directed with the help of spend categorization and cash flow insights. HSBC Kinetics can be considered more than a Business Bank Account. The services it provides range from credit card, same day overdrafts to a savings account that can be applied for in-app.

Peter McIntyre, Head of Small Business Banking, HSBC UK, said to the media, “HSBC Kinetic combines our extensive banking expertise and infrastructure with an innovative approach to offer the best possible business banking experience for customers at a very competitive price point.” The app has associated with other leading small business finance solutions including Xero, QuickBooks and Sage to make it easier for small businesses to run their finances whenever needed right from their phone. An HSBC Kinetic account also comes with HSBC UK’s first vertical debit card.

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