HSBC Taps Metaverse to Win Business From India’s Rich Diaspora
- Bank plans to launch products in GIFT City this year
- Bank opened a virtual experience center for non-residents
The HSBC Holdings Plc India headquarters building in Mumbai.
Photographer: Kanishka Sonthalia/BloombergThis article is for subscribers only.
HSBC Holdings Plc is testing a range of new products and services as part of its push to win a larger share of business from India’s affluent diaspora, who sent more than $100 billion back home last year.
The bank plans to offer dollar-denominated products to non-residents from India’s low-tax financial hub, according to people familiar with the matter. The offerings in GIFT City could include savings accounts, insurance, fixed income and other investment products, the people said, asking not to be identified discussing private information.