PT Bank HSBC Indonesia (“HSBC Indonesia”), the Indonesian banking arm of HSBC Group, and 6Estates Pte Ltd (“6Estates”), an Enterprise AI solution provider based in Singapore, have announced a partnership to empower HSBC Indonesia with innovative AI solutions, starting with the Retail Business Banking division.
HSBC Indonesia will embed 6Estates’ AI-enabled document processing and lending automation solutions into its loan application and monitoring processes, with the goal of streamlining customer onboarding, accelerating credit assessment, and mitigating credit risk.
This partnership marks a significant milestone in HSBC Indonesia’s commitment to harnessing technology to enhance its banking operations.
In its initial phase, this collaboration is expected to drive a 30-fold increase in the speed of bank statement analysis and an 80% reduction in data errors, compared to manual processing.
"We are delighted to deploy 6Estates’ cutting-edge technology to accelerate our group strategy to digitize at scale,” said Lanny Hendra, Director of Wealth and Personal Banking, PT Bank HSBC Indonesia. “By optimizing our processes with AI, we believe we can significantly bolster operational efficiency and elevate the overall customer experience."
The partnership with 6Estates also advances HSBC Indonesia's ESG initiatives. At the outset, the efficient and secure digitalization of customer information will reduce the need for printing and storing large volumes of physical documents. Moreover, 6Estates’ credit assessment automation tools will also enable quicker, more in-depth, and cost-effective analysis of traditionally more challenging borrower segments, such as SMEs.
James Elwes, Chief Operating Officer, PT. Bank HSBC Indonesia emphasized the broader goals of the collaboration, stating, “In working with 6Estates, we aspire not only to achieve superior financial outcomes but also to contribute to critical environmental and social objectives. This partnership supports our efforts towards a low-carbon future and greater financial inclusion.”
“Leveraging AI to tackle historically complex challenges is at the core of our mission at 6Estates,” said Dr. Luan Huanbo, Founder and CEO of 6Estates. “We are thrilled to deliver cutting-edge AI-enabled solutions to HSBC Indonesia, driving operational benefits while ensuring faster and more equitable customer experiences.”
About PT Bank HSBC Indonesia
PT Bank HSBC Indonesia has been operating in Indonesia since 1884 and currently serves customers throughout Indonesia. PT Bank HSBC Indonesia is a member of the HSBC Group which offers Commercial Banking and Global Banking services for Corporate and Institutional customers, Global Markets for Treasury and Capital Market management as well as Wealth and Personal Banking
PT Bank HSBC Indonesia is licensed and supervised by the Financial Authority of The Republic of Indonesia.
PT Bank HSBC Indonesia is a member of the Indonesian Deposit Insurance Corporation.
About The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 62 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$3,041bn at 30 June 2023, HSBC is one of the world’s largest banking and financial services organisations.
6Estates is an LLM-powered Enterprise AI solution provider based in Singapore. Founded as a spin-off from the National University of Singapore and Tsinghua University, 6Estates offers a comprehensive suite of LLM-backed solutions, ranging from computing hardware and base models to model tuning and applications.
6Estates provides ready-to-use AI applications through its comprehensive Intelligent Document Processing (IDP) platform, which enables flexible and accurate document extraction and analysis along with end-to-end lender workflow automation.
Furthermore, 6Estates empowers enterprise clients with fully customized on-premise Artificial General Intelligence capabilities through its Model Solutions offering.
Written by: 6Estates
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