HSBC Shores Up IT, Cybercrime Efforts with Formation of Technology Panel

HSBC has strengthened its commitment to technological innovation and the specter of cybercrime with the formation of a new eight-person technology advisory panel. The new cadre will help develop and implement the lender’s overall IT strategy, drawing on the aggregate expertise and background of its diverse constituency.

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The deployment of a cohesive tech advisory board follows on the heels of a previous effort by Santander, which has also launched similar efforts to help combat cybercrime and shore up its own operations. HSBC’s board consists of eight panel members, each of which distinguished in their respective field.

The panel is composed of senior technologists and entrepreneurs from the United States, China, India, and Israel and will be meeting on a quarterly basis to discuss and oversee HSBC’s technological strategy. The panel will be chaired by HSBC’s COO Andy Maguire. It features the following individuals:

• Mickey Boodaei, CEO of Transmit Security, cybersecurity expert
• Steve Kirsch, CEO of Token
• Chris Larsen, Executive Chairman of Ripple Ripple Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Read this Term
• Megan Quinn, General Partner at Spark Capital, Silicon Valley Venture Capital
• Kira Radinsky, Chief Scientist at eBay
• Haoyu Shen, former CEO of JD.com
• Vishal Sikka, CEO of Infosyst
• Gurjeet Singh, CEO of Ayasdi

The composition of HSBC’s panel is important as it encompasses a range of specialties including open APIs, Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term, data science, artificial intelligence (AI), and startup investment.

According to Mr. Maguire, in a recent statement on the formation of the panel: “The Technology Advisory Board is key to helping us adopt technology that makes HSBC simpler, better and faster for our 46m customers and 250,000 colleagues across our global network.”

“We have also established tech labs in the UK, India and China and signed partnerships with leading organisations including the Alan Turing Institute in London and the Hong Kong Applied Science and Technology Research Institute Company Limited,” he added.