HSBC Holdings, a bank based in the UK, will hire more than 100 AI specialists in Singapore and plans to open a global AI center there later this year, as it expands its use of AI in treasury and payments.

The bank described AI as central to commercial payments and real-time treasury, with use cases including forecasting, fraud prevention, and faster transactions. The new Singapore hub appears to build on that work.

HSBC said the center will initially focus on agentic treasury solutions and AI-enabled digital payments.

The specialists will work with chief AI officer David Rice and HSBC teams in areas including wealth management and global payment solutions.

HSBC also plans to develop talent in natural language processing, data science, and AI governance by working with educational institutions and government bodies in Singapore.

The hiring comes as HSBC weighs broader restructuring. In March, the bank was reported to be considering job cuts over the coming years that could affect about 20,000 roles.

Chief executive Georges Elhedery also said AI will eliminate some roles while creating others, while humans remain central to banking for judgment, decision-making, and accountability.

🔗 Source: Bloomberg