Bank tracked in the Embedded Finance Index. Named by 6 companies, most often as their banking-as-a-service.
TypeBank
Used asBanking-as-a-Service, Lending partner, Sponsor bank
Rank#173 of 340 in BaaS
Buyers6 companies
HeadquartersLondon, England, United Kingdom
Founded1865
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How companies use HSBC
6 companies name HSBC in their stack. The most common role is banking-as-a-service (2). A company can use the same bank for more than one thing.
HSBC’s APIs · from Open Banking Tracker
HSBC publishes a developer portal with 6 API products, and 21 aggregators connect to it.
Readiness
PSD2 in progress · OB ready
Background · from HSBC’s own dossier
HSBC is one of the world's largest banks, operating primarily as a chartered institution across retail, commercial, and investment banking globally. In recent years, HSBC has made a deliberate strategic move toward becoming an embedded finance infrastructure provider — launching a public developer portal with BaaS APIs for account onboarding, payments, virtual cards, and FX disbursements, and forming the SemFi joint venture with Tradeshift to push HSBC financing and payment rails directly into B2B e-commerce platforms. The 2023 acquisition of SVB UK created HSBC Innovation Banking, a dedicated unit serving fintech and startup clients and positioning HSBC as a banking partner-of-choice for emerging fintechs (as seen in the Qover partnership).
Latest round: Post-IPO Debt (public company)
Recent developments
- 2024-10HSBC launched SemFi by HSBC, a joint venture with Tradeshift to deliver embedded invoice financing and virtual card solutions to SMEs on B2B e-commerce and marketplace platforms. source ↗
- 2025-02HSBC Australia published a case study on Cover Genius, highlighting HSBC's support for the global insurtech's growth, positioning HSBC as a banking partner for insurtechs. source ↗
- 2025-04HSBC updated its Open Banking Implementation Guide (v4.0) covering TPP registration, VRP, AIS, and PIS capabilities across personal and business banking channels. source ↗
- 2025-00Qover (embedded insurance insurtech) partnered with HSBC Innovation Banking UK and Numeral to improve insurance claims payment processing speed and efficiency. source ↗
Coverage of HSBC sourced from
Embedded Finance Review — a content partner for this report. All articles are © their original authors; click any card to open the source.
Who uses HSBC
6 companies disclose HSBC in their stack
Buyer mix · 6 of 6 classified
Bank / National · 1Horizontal SaaS / Procure-to-Pay · 1Infrastructure / BaaS · 1Infrastructure / Payments · 1Marketplace / Food delivery · 1Vertical SaaS / Healthcare · 1
What the disclosures say
Conferma“Conferma's partners page (https://www.conferma.com/partners/) names nine card issuers under "Connecting you with the banks and issuers you trust": US Bank, Brex, ConnexPay, Pax2Pay, JP Morgan, Natwest & RBS, SEB, AirPlus and HSBC.”
View source · conferma.com ↗
Philips“Treasury Today article (Feb 2025) and CTMfile story describe Philips partnering with HSBC to implement a cross-currency netting solution across nine entities in mainland China, covering 4,000+ intragroup cross-border transactions across seven currencies annually.”
ZA Bank“ZA Bank participates in HKMA's Open Banking framework as a data consumer (initially with HSBC as data provider).”
Delivery Hero“HSBC Developer Portal: 'Delivery Hero, on-demand Payments... allowing them [Foodpanda riders] to receive earnings on-demand via the Foodpanda mobile application' — integrated via HSBC's Payment Initiation API in Singapore.”
Tradeshift“Tradeshift product page states 'Backed by HSBC...”
Semfi“SemFi embeds HSBC payment, trade and financing solutions across e-commerce and marketplace venues including Tradeshift's network (FintechFutures, PYMNTS).”
The complete buyer list and each company’s full embedded-finance stack are in the
Embedded Finance Index report. Represent HSBC? Claim this profile above to unlock your own full list.
Sample distribution — illustrative only, not HSBC’s actual buyers.
🇺🇸 United States · 40🇬🇧 United Kingdom · 22🇩🇪 Germany · 14🇮🇳 India · 12🇫🇷 France · 9🇸🇬 Singapore · 7🇦🇺 Australia · 6🇧🇷 Brazil · 5+2 more
What HSBC runs on · from its own dossier
The third-party providers HSBC itself discloses, layer by layer — the vendor as a buyer. Distinct from the companies above that disclose HSBC.
Other banks in BaaS
Other banks named for BaaS in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
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<img src="https://www.embeddedfinanceindex.com/api/badge/hsbc/install" width="1" height="1" alt="" style="display:none">HSBC — frequently asked
What do fintechs use HSBC for?
HSBC is a bank. Companies in the Embedded Finance Index 2026 name it as their banking-as-a-service (2), lending partner (2) and sponsor bank (2).
Where is HSBC headquartered?
HSBC is founded in 1865 and headquartered in London, England, United Kingdom.
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