Issue link: https://maltatoday.uberflip.com/i/1097443
28.03.19 11 INTERVIEW banks' policies? HSBC Malta can only com- ment on its own business. New accounts for personal custom- ers have increased by around 40% in 2019 and we also con- tinue to open new accounts for companies in line with our risk appetite. We have in recent years seen the emergence of digital banking alternatives, such as Revolut, which has enjoyed good market penetration in Malta. Do these alternatives pose a challenge to HSBC Malta's more traditional banking model? As a subsidiary of the HSBC Group, HSBC Bank Malta p.l.c is proud to have brought a num- ber of innovations to the coun- try in recent years including bi- ometric identity and contactless payments. e HSBC Group has a stated strategic intention to invest $15- 17 billion primarily in growth and technology between 2018 and 2020 and we are excited to form part of HSBC Group's dig- ital strategy which will enable us to bring more benefits to our customers in 2019 and beyond. In addition to our digital solutions we will continue to provide access to in-person expertise, particularly where our customers especially value this, such as when purchasing a property or starting a busi- ness. How is the bank responding to blockchain and distributed ledger technology? It this new tech a threat, or will the bank evolve and embrace it? e HSBC Group has been testing and implementing dis- tributed ledger technology, commonly known as block- chain, for the last couple of years. Areas such as trade fi- nance and foreign exchange have already shown real com- mercial potential. Globally, the bank continues to test the ben- efits of this technology with our customers. Cyberattacks on banks are a modern day reality. What risks do these pose, and what systems does the bank have in place to detect and avert such attacks? e security of HSBC's data and information is of para- mount concern to the bank and we maintain a constant vigil to protect our customers and col- leagues. High property prices in Malta are currently a popular subject of debate. Connected with this, some young professionals and couples are complaining that, despite being relatively young and having good career prospects, they are unable, or are having a difficulty, to secure home loans with banks which are sufficiently high to allow them to purchase their first home. How do you respond to this – would you say the problem stems from the property market, rather than the bank? HSBC Malta continues to sup- port the property market; for example we saw more than 10% increase in new home loans granted in 2018. We are a responsible lender that works closely with our cus- tomers to ensure they can afford to repay their home loan which represents a significant long- term financial commitment. Where property prices in- crease faster than salaries over time this should create a 'natu- ral brake' on house price appre- ciation as ultimately the market operates over the long-term based on the capacity of pur- chasers to afford property that is available for sale. Andrew C. Beane was appointed CEO of HSBC Bank Malta on 2 November 2019. He previously served as Chief of Staff to the CEO of HSBC Europe, Middle East & Africa and a member of the Executive and Risk Committees of HSBC Bank plc, the parent company of HSBC Bank Malta. He joined HSBC in 2002 and has worked principally in the areas of Commercial Banking and Strategy & Planning with assignments in the United Kingdom, United Arab Emirates, Hong Kong and the United States. Andy returned to Malta in 2015 having already worked for a short period with the bank in 2003 in the risk department. On Beane's appointment, Chris Davies, CEO HSBC International, said: "Thanks to the wealth of international banking experience that Andrew Beane brings to this role, he is very well positioned to continue implementation of our strategy to position HSBC as the leading international bank and the bank of choice for customers. I would like to thank Mark Watkinson for successfully leading the bank during the past years and wish him well in his next role." The security of HSBC's data and information is of paramount concern to the bank