{"id":379752,"date":"2020-11-12T09:03:06","date_gmt":"2020-11-12T14:03:06","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=379752"},"modified":"2020-11-12T09:03:06","modified_gmt":"2020-11-12T14:03:06","slug":"hsbc-launches-new-service-with-biz2credit-to-streamline-banking-for-small-businesses-in-the-us","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hsbc-launches-new-service-with-biz2credit-to-streamline-banking-for-small-businesses-in-the-us\/","title":{"rendered":"HSBC Launches New Service with Biz2Credit to Streamline Banking for Small Businesses in the US"},"content":{"rendered":"

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HSBC Launches New Service with Biz2Credit to Streamline Banking for Small Businesses in the US<\/b><\/p>\n

HSBC Bank\u2019s launch of the Biz2X Platform gives customers faster access to loans and credit cards<\/i><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–HSBC Bank USA, N.A.<\/a>, part of HSBC Group, today announced it is working with Biz2Credit to give small business owners quicker and easier access when applying for business financing. As part of the HSBC Fusion service offering, the bank is using Biz2Credit\u2019s Biz2X Platform<\/a> to speed up the approval of credit applications for small businesses across the country. The Biz2X technology will also improve the accuracy of credit decisions on retail business banking transactions, ultimately reducing risk in the bank\u2019s lending portfolio.\n<\/p>\n

\nHSBC Fusion, a service for business owners that brings business and personal banking together for a more streamlined way of working and living, is designed to facilitate account management, saving both time and money. The service provides a single point of access, whether in the branch, by phone, or through digital banking, by which HSBC customers can manage both their personal and business finances.\n<\/p>\n

\nAccording to the Small Business Administration (SBA), 99.7 percent of all U.S. private sector employers are small businesses, and nearly 7 out of 10 American jobs are at a small business. With this scale, it\u2019s easy to understand the importance of this segment and how it fuels the U.S. economy.\n<\/p>\n

\n\u201cSmall businesses play a pivotal role in the U.S. economy and contribute greatly to our thriving communities throughout the country,\u201d said Shaun McDougall, Head of Retail Business Banking at HSBC Bank USA. \u201cBy using Biz2Credit\u2019s Biz2X Platform, HSBC Fusion delivers a straight-forward and efficient lending process to our small business banking customers, enabling them to spend more time running their businesses without worrying about whether or not they\u2019ll be able to get a loan.\u201d\n<\/p>\n

The Biz2X Platform<\/b><\/p>\n

\nHSBC will use the Biz2X Platform\u2019s credit decisioning engine, based on artificial intelligence and a configurable lending rules engine, to empower its relationship managers with faster and more accurate credit decisions. Benefits of the platform include:\n<\/p>\n