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hsbc shuts down zings mobile app after failing to meet targets

HSBC's mobile app Zing, launched to compete with fintech rivals, attracted nearly 131,000 customers but had only 8,736 active users before its closure, falling short of targets. Analysts criticized the app for lacking differentiation from HSBC's existing services, highlighting the challenges traditional banks face in the digital space. The bank's decision to shut Zing aligns with its broader strategy to simplify operations, reflecting a struggle to keep pace with agile fintech competitors.
@FinancialTimes
British Pound Sterling Wise plc NatWest Group plc Revolution Medicines, Inc. Barclays PLC GBR Pierre Legrand Roula Khalaf Gary Greenwood Simon Taylor Show more
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06:00 02.02.2025
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