HSBC launches commercial finance brokers scheme
HSBC UK is launching a scheme that will enable commercial finance brokers to introduce new business leads to relationship managers.
The scheme was tested through a year-long pilot with the National Association of Commercial Finance Brokers (NACFB). Accredited HSBC brokers used the pilot to introduce new businesses to the bank in exchange for a fee upon successful deal completion.
Under the new scheme, accredited commercial finance brokers will be able to provide business leads to HSBC UK’s relationship managers. The scheme means that HSBC can provide customers with more help in the expansion of their businesses through asset purchases, capital expenditure, or other investment opportunities.
Head of business banking at HSBC Peter Mcintyre said: “HSBC UK are pleased to launch our new scheme for commercial finance brokers. This innovative scheme enables the bank to enhance the way we work with UK businesses and achieve the best results for them.”
HSBC UK has invested in new technology to ensure both commercial finance brokers and relationship managers can work together more seamlessly. This includes a new online portal that can be used for referrals. The company has also provided enhanced training to upskill more relationship managers to receive leads from the growing number of brokers.
Commercial finance brokers are required to go through an accreditation process set out by HSBC UK and will receive a fee equivalent to 50 per cent of the negotiated arrangement fee.
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