The world’s best bank for trade finance 2023: HSBC
HSBC continues to lead from the front as trade finance reinvents itself.
HSBC was the world’s largest trade finance bank by revenue last year, according to Coalition Greenwich competitor analysis for clients and corporates with annual sales turnover of more than $5 million to $10 million. It facilitated an eye-popping $800 billion of trade globally, all the while looking for new solutions to the challenges presented by the dominant themes in this business of sustainability and digitalization.
“At HSBC, we are focused on digitizing our global trade business at scale,” says Vivek Ramachandran, head of global trade and receivables finance at HSBC. “We are not just running pilots but trying to ensure all our clients see the benefits.”
And they seem to be. HSBC has also been voted the best bank in trade finance globally in Euromoney’s benchmark survey for the last six years in a row. Central to the business is HSBC Trade Solutions (HTS), which was launched in 2022 and leverages an application programming interface (API)-native, modular design and flexible tech-stack.