Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Fintech Startup Box to Introduce Innovative Retirement App that Converts Daily Spending into Future Pension Savings

September 15, 2025

India introduces new regulations to combat AI-generated false news – Brand Wagon News

September 15, 2025

Revolutionize healthcare and finance using quantum technology.

September 15, 2025

Enhancing Financial Efficiency and Reducing Costs with AI: A New Era by Erica Andersen

September 14, 2025
Facebook X (Twitter) Instagram
Trending
  • Fintech Startup Box to Introduce Innovative Retirement App that Converts Daily Spending into Future Pension Savings
  • India introduces new regulations to combat AI-generated false news – Brand Wagon News
  • Revolutionize healthcare and finance using quantum technology.
  • Enhancing Financial Efficiency and Reducing Costs with AI: A New Era by Erica Andersen
  • Yana Finance introduces a food recovery platform to address reimbursement challenges in Nigeria.
  • Creating international finance through artificial intelligence and blockchain technology
  • Elon Musk’s team announces the elimination of AI tutors as they lay off hundreds of employees.
  • Cisco – The Data Catalyst: How Mixed Finance is Leading to Climate Solutions with AI
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    FCCPC recoups 10 billion naira for harmed customers after grievances against banks and fintech companies

    September 11, 2025

    Hyderabad Fintech Viyona secures NPCI approval to function as a third-party application provider.

    September 11, 2025

    Klarna IPO Valuation Analysis in the US Banking Sector

    September 2, 2025

    Robinhood’s IA Investing Tool Digests Launches in the UK

    August 27, 2025

    JMJ Fintech experiences fluctuations despite robust recent financial results and growth strategies

    August 16, 2025
  • AI

    India introduces new regulations to combat AI-generated false news – Brand Wagon News

    September 15, 2025

    Revolutionize healthcare and finance using quantum technology.

    September 15, 2025

    Enhancing Financial Efficiency and Reducing Costs with AI: A New Era by Erica Andersen

    September 14, 2025

    Yana Finance introduces a food recovery platform to address reimbursement challenges in Nigeria.

    September 14, 2025

    Creating international finance through artificial intelligence and blockchain technology

    September 14, 2025
  • Acquisitions

    Amazon concludes its acquisition of the Indian lender Axio, expanding its fintech efforts.

    September 11, 2025

    The incident involving the Kaustubh Kulkarni movement in Moomoo

    September 3, 2025

    Overview of Acquisitions for US Fintech Companies from the Clifford Chance Guide

    September 2, 2025

    Dentons guides PEAC Solutions in acquiring Fintech Topi

    August 29, 2025

    Truckstop.com purchases the denim division of the transport finish company

    August 24, 2025
  • Trends

    Overview of the Size, Trends, Growth Drivers, and Key Players in India’s Fintech Sector

    September 5, 2025

    SEF – Wits Global Fintech Conference 2025 Investigates Worldwide Fintech Trends

    September 4, 2025

    The impressive results of PB Fintech underscore the contrast with overall market trends.

    September 4, 2025

    South Korea’s Fintech Market Overview, Trends, and Growth Predictions

    August 30, 2025

    Vietnam’s fintech market projected to exceed 50 billion USD by 2030.

    August 21, 2025
  • Insights

    A brief overview of the upcoming weekly updates in fintech

    September 12, 2025

    Kapital is the final unicorn in Mexico valued at over $1 billion.

    September 5, 2025

    Canton RestitySteve Forbes and Peter Schiff Headline New Fintech.tv Series Riding Bulls and Taming Bears Led by David Stryzewski New York, NY / Access Newswire / August 25, 2025 / Fintech.tv has unveiled the debut of Bulls and Taming Bears, a series focused on market analysis and…

    August 28, 2025

    Steve Forbes and Peter Schiff Launch New Fintech.tv Series “Conquering Market Fluctuations” by David Stryzewski – Azentral | The Republic of Arizona

    August 28, 2025

    Updates on Blockchain, Fintech, and Finance from Coinlaw

    August 26, 2025
  • Rumors

    Pi Network price hits a new all-time low amid delimitation speculation on OKX and Mexc.

    September 11, 2025

    Tether’s Bitcoin Sale for Gold: CEO Paolo Ardoino Shares the Facts

    September 8, 2025

    Buffalo Sabers encouraged to trade former first-round pick Isak Rosen amid challenges

    September 7, 2025

    Wise aims to establish itself as a bank in the UK.

    September 7, 2025

    Is Trump deceased?

    September 6, 2025
  • Startups

    Fintech Startup Box to Introduce Innovative Retirement App that Converts Daily Spending into Future Pension Savings

    September 15, 2025

    Startup Fintech Growxcd aims to raise Rs 200 crore in Series B funding.

    September 11, 2025

    South African Fintech Company Finutup Secures $2.6 Million (46 Million Rands) in Funding

    September 11, 2025

    Venturesouq, backed by the sovereign, successfully concludes the second Fintech Fund, highlighting a significant advancement for the Mena startup ecosystem.

    September 10, 2025

    South African Finutup Floor Fineshy Achieves R46M Increase in Scale

    September 10, 2025
  • finjobsly
fintechbits
Home » HSBC confirms Zing closure, with hundreds of jobs at risk
Jobs Market News

HSBC confirms Zing closure, with hundreds of jobs at risk

2 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
Smart 729.jpg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Banking giant HSBC has confirmed the closure of its cross-border payments app Zing, which could lead to hundreds of job losses. The closure of Zing, which was launched in January 2024, comes as part of the banking giant’s cost reduction efforts.

The closure of Zing, one of last year’s highest-profile fintech launches, will raise new questions about the ability of traditional banks to launch fintech subsidiaries. UK-focused Zing was launched to take on the likes of Wise and Revolut, which have been snatching away customers from traditional rivals with lower exchange fees.

An HSBC spokesperson said:

“Following a strategic review of Zing within the HSBC Group and after careful consideration, we have made the decision to close Zing and integrate its underlying technology platform into HSBC.

“Zing customers will be informed of an alternative option to become HSBC UK banking customers and use the Global Money proposition (subject to KYC checks).

“As part of our regular business reviews, we continually evaluate how to align our resources with our strategic priorities. This includes reviewing changes to our business structure and entities.

“This decision is part of the group’s simplification announced on October 22, 2024.

“HSBC strives to increase its leadership and market share in areas where it has a clear competitive advantage and where it has the greatest opportunities to grow and support its customers.”

According to Reuters, the closure of Zing could result in the loss of around 400 jobs, but HSBC has not confirmed this information. Staff working on Zing are informed today of the decision to close Zing. According to Financial News, which broke the news yesterday, the decision to close Zing also came amid a struggle to restructure Zing’s compliance functions.

HSBC’s new CEO, Georges Elhedery, is looking to cut costs in the HSBC business and focus on its core business. Last year, Lloyds and Barclays-backed loyalty app Bink closed, leading to 46 redundancies. In 2021, NatWest axed Esme Loans, its standalone digital lending platform for SMEs.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Steps to Kickstart Your Career in Fintech

September 12, 2025

Transforming curiosity into capability – TradingView News

August 27, 2025

Berkeley Students Gain Experience in Fintech through La Royal Gazette

August 21, 2025
Leave A Reply Cancel Reply

Latest news

Fintech Startup Box to Introduce Innovative Retirement App that Converts Daily Spending into Future Pension Savings

September 15, 2025

India introduces new regulations to combat AI-generated false news – Brand Wagon News

September 15, 2025

Revolutionize healthcare and finance using quantum technology.

September 15, 2025
News
  • AI in Finance (1,612)
  • Breaking News (168)
  • Corporate Acquisitions (71)
  • Industry Trends (200)
  • Jobs Market News (306)
  • Market Insights (209)
  • Market Rumors (274)
  • Regulatory Updates (166)
  • Startup News (1,048)
  • Technology Innovations (174)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,612)
  • Breaking News (168)
  • Corporate Acquisitions (71)
  • Industry Trends (200)
  • Jobs Market News (306)
  • Market Insights (209)
  • Market Rumors (274)
  • Regulatory Updates (166)
  • Startup News (1,048)
  • Technology Innovations (174)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.