HSBC announced the creation of a Global AI Centre of Excellence in Singapore, with the goal of recruiting more than 100 AI specialists by the second half of 2026. The center, overseen by David Rice, chief AI officer of the bank, will initially focus on customer wealth enhancement, agentic treasury solutions, and AI-enabled digital payments. HSBC also launched a Tokenised Deposit Service in 2025 to improve cross-border payment efficiency, and maintains a multi-year partnership with Google Cloud in AI and machine learning. The Monetary Authority of Singapore has created favorable regulatory environments for innovation in digital assets and AI-driven financial products.
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