Ex-HSBC executive discusses shift to fintech industry
In an ambitious move to revolutionise social payments in the Hong Kong market, HSBC, the global banking giant, has chosen Austin, Texas-based Episode Six as its fintech partner. Brian Muse-McKenney, the global head of strategy and business management at HSBC, spearheaded the search for a fintech partner to develop a cutting-edge social payments app.
Episode Six's comprehensive platform offers a wide range of services, including card issuance, virtual accounts, installments, rewards, B2B payments, and global wallets. With these capabilities, HSBC was able to create its social payments app, PayMe, leveraging Episode Six's robust infrastructure.
PayMe, now boasting a 70% market share in Hong Kong, has been a resounding success. The app's growth is a testament to the power of Episode Six's technology and HSBC's strategic vision.
Muse-McKenney, who held high-level positions at Citi before joining HSBC, was drawn to Episode Six's innovative approach to payment solutions. Impressed by the company's offerings, he eventually left HSBC to join Episode Six's board and later became the firm's chief revenue officer.
Episode Six's platform is integrated with major players such as Mastercard and HSBC, ensuring compliance with global payment networks and standards. The firm's modular, API-driven platform simplifies the technical complexities for fintechs and financial institutions, accelerating the time to market for innovative financial products.
Recently, Episode Six announced a partnership with Yoo Financial to create customizable credit products available throughout Canada. Moreover, the German government has utilised Episode Six's infrastructure to issue payouts to refugees and asylum seekers on programmable cards, showcasing the platform's versatility and potential for financial inclusion.
As HSBC and Episode Six continue to collaborate, the future of social payments in Hong Kong looks increasingly promising, with the potential for more innovative financial solutions to emerge.
Technology played a crucial role in HSBC's creation of PayMe, a social payments app that now holds a 70% market share in Hong Kong. This success is a testament to the power of Episode Six's technological infrastructure, which facilitated the app's development and integration with global payment networks like Mastercard.
