HSBC US Commercial Banking announced on Tuesday it has formed a new partnership with fintech firm, Neptune Financial (NepFin). According to the banking group, the collaboration will firms that are doing business with NepFin will now be able to tap HSBC for commercial banking services and its global network.
HSBC described NepFin as a next-generation financial services company whose commercial lending platform provides growth capital to mid-sized businesses with revenue between $10 million and $100 million, utilizes machine learning and data science to efficiently identify demand for credit and lower costs. NepFin’s partnership with HSBC will enable it to strengthen its digital proposition through analytics and insight. Speaking about the partnership, EJ Achtner, Head of Digital Banking at HSBC US Commercial Banking, stated:
“This partnership will enable HSBC to extend its global capabilities and international network to benefit more US businesses. We’re excited to leverage NepFin’s platform to help more middle market businesses efficiently source capital.”
NepFin CEO and Co-founder Albert Periu, went on to add:
“HSBC has a long and impressive history serving all types of businesses throughout the world. We look forward to combining their expertise, particularly in the middle market, with our digital platforms so that we can better serve the needs of this important segment.”