How HSBC Transformed Its Customer Experience - SPONSOR CONTENT FROM HSBC

In every sector, technological advances are raising customers’ expectations regarding how they should be able to interact with brands.

Two-thirds of Hong Kong Millennials in a recent HSBC survey rated seamless integration of their banking services as “extremely” or “very” important. Attracting these consumers and encouraging them to expand their relationships with the bank require a strengthened focus on building CX that helps people integrate and navigate their financial lives.

HSBC applies the survey results to its Customer Forum, a governance and discussion platform in which all departments can review initiatives through the customer lens to help the bank prioritize the journey improvements that matter most to customers. CLCM has transformed the way HSBC interacts with its customers by ensuring that the bank can identify and meet their banking needs in real time. Also, the interplay between CEM-generated insights and CLCM-prescribed actions results in a regular, systematic progression of customer engagement as well as improved products and services and more-effective lifecycle management.

Insights from the CEM have shown that the end-to-end banking experience matters more to customers than product features. It has also revealed that customers prefer digital-first interactions to branch visits, with 90% of respondents saying digital is key to their experience. As a result, HSBC has committed more resources toward improving its digital capabilities for a true “bank in your pocket” experience.

Recognizing that new customers have diverse interests and needs, HSBC also developed 60 automated and personalized messaging modules explaining account features and dedicated offers over the course of a customer’s first 90 days, all based on data-driven insights and customer behaviors.

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