HSBC Singapore: A Holistic Approach to Customer Experience

HSBC Singapore A Holistic Approach to Customer Experience

One of the most envied organisations when it comes to customer experience has proved once again that it is second to none. Winning five highly coveted awards in various Customer Experience categories, HSBC Singapore remains the paragon of excellent service and innovative digital experiences in a highly competitive retail banking environment. Their holistic approach to customer experience truly sets them apart.

At the Digital CX Awards 2020 by The Digital Banker, HSBC Singapore was declared Winner in the following categories: Best Brand Customer Experience, Best Customer Experience – Mortgage Product, Best Customer Experience – Branch. It was also adjudged Highly Acclaimed, Best Customer Loyalty Program. One of the most prestigious awards given, CX Professional of the Year was also won by HSBC Jade Relationship Manager, Diana Cheng.

Coming out on top among the more than 200 nominations in various awards categories received this year, HSBC Singapore’s achievement is a source of pride. Among the highly respected line up of judges at this year’s awards ceremony are industry veterans from companies such as Forrester, EY, Fuji Xerox, Bain & Company, Wipro Digital and KPMG.

“We’re always motivated to create real and meaningful connections with our customers and leave a positive impact on our community. We’re glad that through some of our programs, we’re able to achieve this. The fact that we’re being recognised for making a difference is especially encouraging,” said Alice Fok, Head of customer propositions & marketing, Retail Banking & Wealth Management, HSBC Singapore.

HSBC Singapore remains the paragon of excellent service and innovative digital experiences in a highly competitive retail banking environment.

Commenting on the success of ‘Swing for Power’ initiative, which helped HSBC Singapore win the Best Brand Customer Experience award, Tony Cripps, Group General Manager and Chief Executive Officer of HSBC Singapore said: “At HSBC, we’re always looking for ways to give back to our local communities. This year, we decided to harness the collective power of the people to support the amazing work that RDA is doing for those in need. The success of the Swing for Power initiative was achieved by mobilising the public for the common good. We are heartened by the results from this initiative and we hope that the contribution will benefit more Singaporeans with disabilities.”

Best Customer Loyalty Program – HSBC Jade Passport

HSBC Jade Passport offers seamless banking to HSBC’s hight net-worth Jade customers across Hong Kong SAR, mainland China and Singapore. Jade Passport allows Jade customers who are principally qualified in one of these markets, the ability to enjoy reciprocal access to benefits across the three locations. Customers have praised HSBC for being the first in the market to offer such a loyalty program and they have seen growing interest from new customers who have a personal or business interest across these 3 markets.

Best Customer Experience (Mortgage Product) – HSBC Automated Facility Offer

The HSBC Automated Facility Offer letter cuts the time taken to generate a facility letter from 4 hours to less than 1 minute, providing its mortgage customers with a new first-class experience. Through digitalization, HSBC automated the generation of a facility letter very quickly.  With this, it has also provided customers with flexibility to change their loan packages should they change their mind. A new facility letter can then be generated quickly with minimal waiting time. The implementation saw a significant reduction in manual efforts.  More importantly, it has spurred the growth of HSBC’s lending business with the increased business volume.

Best Customer Experience (Branch) – Retail Banking and Wealth Management Branch Network

Combining technology and digital innovations with the enhancement of staff capabilities, HSBC Singapore – Retail Banking and Wealth Management Branch Network is building the business by placing the customer at the centre of everything it does. The culture and capabilities (both digital and people) are synergistic to deliver the best in class service to its customers. An array of digital innovations and enhancements has been deployed, alongside uplifting people capabilities, helped HSBC Singapore be recognised to be recognised for this award. As a result, the bank has experiences significant improvement in its customer satisfaction scores and digital engagement.

Best Brand Customer Experience – Swing for Power

In order to improve brand affinity in Singapore, HSBC created ‘Swing for Power’, a CSR program that bought Singaporeans together to improve the community.

The fact that many Singaporean families live in darkness is hidden from public knowledge. 10%-15% of households in Singapore are low income, and with the rising cost of living, these families have no choice but to cut spending on their electricity bills. This option, however, isn’t possible for charities serving the community. Under extreme financial strain, charities struggle to meet their electricity payments.

Unknown to many, there is a lot of power in a golf swing; a good hit sends the ball off at 94 mph. What if there is a way to capture this power and use it to power households or charities? Thus, ‘Swing for Power’ was born. The initiative included on-ground activations, interactive bus shelters and an online game allowing Singaporeans to participate by swinging a real or virtual golf club. With every swing, participants would generate real power for the community.

The most critical part of the strategy was to ensure that the power generated was donated back to the community. For this, HSBC Singapore, with its partners, decided that the campaign contributions would be donated to the Riding for The Disabled Association (RDA). The RDA provides horse riding therapy for those with both physical and intellectual disabilities. The RDA generously offers sufferers with sessions to help improve self-confidence and motor coordination. The service is in high demand with a 6-9 month waiting list. Such a contribution helped facilitate in speeding up with wait list having an immediate and significant impact to the disabled community.

Through the collective engagement of over 8,000 participants, ‘Swing for Power’ was able to harness 24,267 hours of electricity powering up the RDA facility for 33 months.

Through the collective engagement of over 8,000 participants, ‘Swing for Power’ was able to harness 24,267 hours of electricity powering up the RDA facility for 33 months.

CX Professional of the Year – Diana Cheng

HSBC Jade Relationship Manager Diana Cheng has built a strong customer base for the past 10 years in HSBC on the strong belief aligned with HSBC corporate values of customer centricity – meeting customer needs and providing “First Class Customer Experience”. A strong advocate of excellent customer service together with a leverage on digital tools, Diana delivers her own brand of highly personalised service to her portfolio of HSBC JADE (High Net Worth) customers who expects a discerning and distinguished service. Her customers have deepened their relationship with HSBC with a broad range of products/holdings through the years, and the consistent performance in her balanced scorecard across business growth and customer satisfaction KPIs testifies to her ability as a customer professional in her field.

Swing for Power 1

 

Download the magazine print version of this article here.

Image: Hatchapong Palurtchaivong / Shutterstock.com

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Read more about the winners at the Digital CX Awards 2020 here.

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