In a conversation with Peter Faulhaber, HSBC’s Head of Wealth and Personal Banking for HSBC Philippines, shares how HSBC’s 147-year heritage and continued commitment in the Philippines, has enabled the bank to connect their retail customers with the rest of the world and how investing in technology has played an important role to adapting the changing needs of customers.
"And it should be stressed how HSBC, investing in technology has played an important role to us adapting to the changing needs of the customers," added Peter Faulhaber, HSBC’s Head of Wealth and Personal Banking for HSBC Philippines.
"HSBC has accomplished extraordinary achievements in 2020 and 2021, surpassing challenges with much resilience while continuing to provide the best service to its customers and making an impact to the community. HSBC continues to invest in digital innovations, helping customers adapt to the changing digital landscape, as we see our customers appreciate our online and mobile banking apps, that resulted to increased activations and upsurge in the number of digital transactions in 2021 by 18%. We continue to make Global transfers convenient at their fingertips and free of charge, making our digital channels essential during these times."
Faulhaber specifically mentioned several new digital innovations HSBC has put in place, including Adobe Sign, which provides customers an alternative way to sign bank documents without the need to be physically present at the branch. To further provide flexibility to customers in how they interact with HSBC, the Web Chat facility was introduced on the company's website, with all of the Premier Relationship Managers equipped with remote capabilities to meet clients at any location they choose – including from the comfort of their own homes.
"Investing in technology has long been a priority for HSBC – but the pandemic has brought its importance into even sharper focus. Millions of customers worldwide have turned to our digital channels to do their banking. The Bank has seen significant growth in the use of the digital services with now over 50% of its depositors registered to the online banking platform. Also, the percentage share of retail transactions that are done through online channels have nearly doubled from 2019 to today, showing that increased familiarity gives rise to usage. "
, In addition, customers could remotely open an HSBC Premier bank account within the safety and comfort of their homes. Guided by HSBC Premier Relationship Managers, customers can fill in smart forms with necessary details, and submit electronic copies of required documents with the use of their tablets or mobile phones.
"We want our customers’ experience to be as seamless as possible, enabling them to open their accounts remotely with their debit cards delivered to their preferred addresses. Once customers have registered to online banking, they will be able to easily manage their accounts and securely do banking transactions online – such as paying bills, transferring funds locally and internationally --- anytime, anywhere," he added.
As the economy opens up again, how do you plan to support people with growing international needs?
As economy both local and global opens up, HSBC’s global network helps customers open up a world of opportunities, by providing them with international solutions, connecting people, ideas and capital across borders and boundaries.
"HSBC Premier is our global banking proposition that gives our customers access to local and offshore products and services."
Faulhaber noted that through HSBC Premier, customers get "Premier status that provides them global recognition, where they can open an account wherever there is a Premier office in the world, without leaving the country.
"HSBC’s Global Family Proposition allows a Premier client to build his/her legacy, where he/she can extend the features and benefits of a Premier account to their spouse or children, and they don’t need to maintain a separate Total Relationship Balance with HSBC. HSBC also provides Premier Overseas Education where it equips a family with the right tools to make the family a global citizen. As an example, a customer can open and maintain an account in HSBC Philippines, then also open an account in HSBC Canada where his/her child plans to study, and as such enjoys the Premier status of his/her parents, which enables him to have a smooth transition in a new country."
HSBC Premier also provides global wealth and investment opportunities, to a range of local and international investment options. "They can tap into our offshore investment centres, International Wealth Hub in Singapore and Private Banking in Hong Kong and Singapore for their wealth needs. This means Premier customers can have access to global wealth products which they cannot get locally.
As the world is opening up again, customers can make use of their HSBC Credit Cards that is a globally recognized brand that is widely accepted locally and overseas. HSBC home & Away is a unique offer we provide our customers, offering valuable benefits around the world. One can get discounts in dining, travel, shopping and more, and can easily search for offers in a given location, whether they are home or traveling.
Faulhaber also sees a better future -- post pandemic.
"We go beyond offering financial services, as we want to continue in building the nation through our contributions to the community and set our ambition to transition to net zero. To show our commitment in making the world healthier, we are proud to share that our Premier Visa Debit Card is now designed to save the earth, as this is now made of 85% recycled PVC. With this shift, we will be able to reduce plastic waste by 73 tons and carbon emissions by 161 tons a year. We are gearing up to shift our credits cards to recycled PVC within the year."
HSBC’s global network provides customers with international solutions, connecting people, ideas and capital across borders and boundaries.