From Hype to Help: Bringing Market Data and Analytics into the Treasurer’s Toolkit with HSBC AI Markets

Artificial intelligence has dominated headlines in recent years, with promises to transform everything from healthcare to customer service. For treasurers and CFOs, however, the question is sharper: can AI genuinely solve real-world problems in risk management, or is it just another over-hyped technology?

Rahul Badhwar, global head of corporate sales, markets & securities services at HSBC, believes the answer is clear. “For treasurers, AI isn’t about gimmicks. It’s about efficiency and insight — automating tasks, improving data analytics, and ultimately providing better inputs for risk management and hedging,” he says.

From tactical to strategic: a new operating model

Adopting AI is not just about plugging in a new system. For treasury teams, it also requires a shift in mindset.

“The first step is cultural: recognising that AI can and should be part of the operating model,” Badhwar says. “Productivity has become the need of the hour, and AI allows people to be far more productive — being more time-efficient to produce higher-quality outputs.”

This shift frees up time for treasurers to focus on longer-term strategic questions:

• How might their organisation be affected over the next three to five years given global macro and geopolitical trends?
• What are the potential ‘plan B’ scenarios management should be considering assuming another global crisis like we saw in 2008 or 2020?
• How should resources be allocated to hedge emerging risks?

“In short, it’s about moving from the tactical to the strategic,” Badhwar notes. “AI can take care of the repetitive tasks, so treasurers can devote more attention to scenario planning and big-picture thinking.”

A practical platform for corporates

HSBC launched its HSBC AI Markets platform initially for institutional clients. It is now extending it to the corporate community — from mid-market clients to Fortune 500 companies.

At its core, the platform is designed to give treasurers a single, fit-for-purpose environment that integrates market intelligence, analytics, and execution:

• Market context: a one-stop shop for market data, analytics and HSBC’s published research.
• Scenario analysis: probability-based ranges for key currency pairs, helping treasurers understand potential volatility and bottom-line impacts.
• Customisable dashboards: tailored to the exposures that matter most, with analytics, event calendars, and execution tools in one place.
• Seamless execution: the ability to trade spot and forward FX at the click of a button, with full transparency and post-trade reporting.

“Yes, a treasurer could go to ten different data sources and manually piece together the same picture,” Badhwar acknowledges. “But HSBC AI Markets brings it all together in a consumable, intuitive format — analytics, insights, and execution on a single platform.”

Forecasting, quantification, and better decisions

One of the challenges facing corporate treasurers can be the accuracy of forecasting their foreign currency exposures as supply chains shift and customer demand evolves. That challenge is often further complicated due to the need to manage budget rates for currencies.  

“HSBC AI Markets offers a set of tools to assist corporate clients in managing their foreign exchange budget rates more effectively,” Badhwar explains. “That means they not only understand the numbers, but also the probability around whether those FX risks will actually crystallise in the next six to 12 months.”

HSBC AI Markets also helps treasurers to analyse large volumes of historical data — from FX to interest rates to macroeconomic variables — so they can make more informed hedging decisions. This includes determining effective hedge strategies, and presenting the results in a way that senior management and auditors can easily understand.

“CFOs often ask their treasurers: how much foreign exchange risk are we facing? HSBC AI Markets equip treasurers with analytics and data to better answer that question, backed by correlations and patterns in the data,” says Badhwar.

The long-term vision: scalable, cross-asset, constantly evolving

HSBC’s ambition for its AI Markets platform is not limited to foreign exchange. “Our vision is to make it truly scalable,” says Badhwar. “That means it must be just as relevant to a $100 million turnover mid-market client as it is to a Fortune 500 company. And it means expanding across asset classes for pricing and execution — from FX into interest rates, commodities, and beyond.”

Future enhancements will deepen HSBC AI Markets’ pre-trade analytics, sharpen its user experience, and expand the product suite. For now HSBC is focused on Cash FX (spot and forwards), as these are the most widely used products by our clients. “That’s where the bulk of our corporate clients’ risk lies, and where we can deliver the most immediate value,” Badhwar explains. “But we will broaden the offering in a careful, fit-for-purpose way.”

Trust, transparency, and rigorous governance

For corporate treasurers, where mistakes can carry real financial and reputational costs, trust is paramount. Badhwar is clear that transparency is non-negotiable.

 “Outputs must be consistent, traceable, and clearly referenced to their data sources. If an auditor asks how a decision was made, treasurers should be able to show the step-by-step logic.”

HSBC applies rigorous governance to every process, including documentation, approvals, and internal reviews. “It’s not just about building the best digital interface,” Badhwar stresses. “It’s about making sure solutions are audit-proof, regulatory-compliant, and genuinely explainable.”

Confidence in a complex world

Treasurers operate in a high-stakes environment where risk management decisions can affect entire organisations. By combining trusted data, rigorous governance, and intuitive tools, HSBC AI Markets  is designed to help them meet that challenge — not by replacing judgment, but by equipping treasurers to make better, faster, more strategic decisions.

As Badhwar sums up: “HSBC AI Markets is about making treasurers more efficient, more informed, and ultimately more confident in managing their risks.”

Taking the first step

For treasurers looking to start their AI journey, Badhwar advises beginning with repetitive, data-intensive tasks. “The challenge today isn’t the lack of data — it’s how to analyse and consume it. Treasurers should see how they can leverage AI to remove biases that come from focusing on short, anomalous periods, like the pandemic or tariff shocks.

Equally important is leadership commitment. “More and more CEOs are saying AI proficiency is not a ‘nice to have’ but a ‘must have’ for their employees,” he notes. “Tone from the top is critical to driving adoption.”

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