HSBC launches data labs in London and Toronto

HSBC has launched two new data innovation labs in London and Toronto, as part of its plans to expand its investment in artificial intelligence (AI) and machine learning (ML) across its global markets.

The research lab in London is expected to employ 100 staff specialised in AI, along with technologists, co-op students and interns, while the Toronto lab will employ 50 members of staff.

Under plans outlined this week, the labs will provide for research, innovation and development of an AI will use advanced ML techniques to analyse up to 10 petabytes of data from 1.6 million corporate and institutional clients from HSBC’s global banking and markets business.

It will include more than 47,000 physical tables of information collated from the 67 countries where HSBC operates.

This analysis is expected to help guide the development of future products and services, generating business insights to help improve customer experience.

Chuck Teixeira, chief administrative officer and head of transformation at HSBC Global Banking and Markets, said: “The lab will give us the ability to aggregate a wide variety of datasets to truly understand, on a global basis, what corporate clients are doing, what their consumption patterns are, and what the trade flow looks like across all the jurisdictions where we operate.”

He added: “We will not only be anticipating what a customer’s needs are, but also actually behaviouralising and then adding it to the historical consumption patterns to do predictive analytics around that customer.”

    Share Story:

Recent Stories


Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.

Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.

Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.