HSBC is shutting down its global money app, Zing, a year after launch, cutting around 400 jobs.

HSBC is closing its global money app, Zing, just a year after its launch, as part of cost-cutting measures led by CEO Georges Elhedery. The app, which aimed to compete with services like Wise and Revolut, allowed users to hold multiple currencies and send money internationally. The closure could affect around 400 jobs, but HSBC plans to support affected employees. The bank is focusing on areas with competitive advantages and growth opportunities.

2 months ago
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