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HSBC had only one Global Corporate/Business App – HSBCnet Mobile – but a multitude of local Apps, all requiring their own technical, operational and commercial resources, and completely inconsistent. The Global App was available in 15 smaller markets, but excluded from the key markets – The UK, The US, China, Hong Kong, France and Germany.
The HSBCnet App had minimal investment and very low awareness due to a poor User Interface, outdated User Experience, and lack of customer focus. It was a technically focused App modelled on displaying the full range of what HSBC could offer, rather than focused on solving customer pain points.
The Global/Head Quarters team and initiatives were perceived as distant from the customers and not focused on customer needs. Awareness was very low amongst Commercial teams and customers both at the Global and National Account management levels. Market penetration and growth in the Apps value (payments initiation and authorisations primarily) had stalled.
The dedicated Tech teams for the Global App in China and Hong Kong had become focused on technical ‘tweaks’ and troubleshooting due to the aging technology and lack of customer insights/business side direction
Primary Task was to convince the UK organisation to allow the HSBCnet into the UK market, alongside its existing Small & Medium Sized Enterprise App (‘Business Mobile’). This App itself was badly outdated and had lost its market focus as well as becoming too technically driven.
A Secondary Task was to roll out HSBCnet into the other key excluded markets – The US, China, Hong Kong, Germany and France.
In addition a customer focused Roadmap was required for the Hong Kong based Tech leadership, and help evolving them to ‘Agile’ – the methodologies and ways of working
Finally, there was a requirement to bring the Global and Local Apps in line with the HSBC Retail Bank/Consumer markets through introduction of ‘Biometric’ log on – namely Touch ID.
The first challenge to resolve was antagonism between the UK and Global organisations. The UK could not perceive the benefits of allowing the Global App into the UK market, and had previous bad experience from attempted ‘c0-operation’ with the Global HSBCnet team. I had to clear the air with the UK Leadership teams, gain their respect, and clearly outline what could be achieved through true Collaboration. I actively sought out and secured Champions within the UK organisation and then Identified/met with key influencers and stakeholders across all impacted teams. 5 Champions helped me to understand and cover all bases.
I shared my vision for the Global App – Consumer App grade UI, UX, customer focused navigation, Global branding and Marketing support, with a roadmap including value added services (such as share dealing, Global Trade Services and currency exchange). I promised to help UK Tech leadership to implement the Global Biometrics Roadmap. I took the proposals through the UK Governance and approvals processes, and helped develop the Registration and Log In Flows/Screens for the UK Local App. Finally, I mapped the differences between the Global App customers/prospects and those for the Local App – proving that the 2 Apps were complementary to each other, not competitive.
I was able to model and forecast the uptake and usage for the Global App in the UK, alongside the uptake and usage for the Local App. I set this as a KPI and took full responsibility for achieving the targets.
Once I had the template and approach for the UK, I was able to then apply the same approach for each of the other key critical markets – The US, China, Hong Kong, Germany and France. The most complex was The US, where I had to address several Lawyers, Compliance Heads and external advisers in a 1 Hour grilling. But I was able to address all of their questions and secured approval for US market entry within 1 month of securing the UK.
Alongside the Local Markets activity I engaged the Global Account Management teams – Leadership, The Key Account Managers, and the Global leads for each Local Market. The same promises, but helping me validate the innovations within the Global HSBCnet App.
Final Actions were to deliver against my promises!!
The most surprising outcome from the new revitalised Apps was the sheer scale of uptake in the first weeks of launch.
The Global App gained over 10,000 UK customer Users in the first week, and 50% of customers registered for Biometric Log on within the first 4 weeks. The UK App with Biometric Log On gained 50,000 customers on the first day, and over 500,000 customers within the first 4 weeks. 75% of customers registered for the Biometric Log on. This same pattern was repeated across every new market, and in existing markets where the App/or Apps was/were relaunched.
The next clear noticeable outcome was a huge surge in App Usage. The Payments Value for the Global App grew by over 400% in 18 months, from $20B pa to $100B pa. The main stimulus was expansion to the biggest markets, but there was high organic growth in existing markets too. Within the 18 months an original 15 markets had grown to 40+
In addition the Apps went up a level in terms of the user base, what had been a core user base of Financial Directors expanded to the entire C-Suite – in particular CEO’s, COO’s, CTO’s and CFO’s. A CFO and CEO in a Dutch company used the App to acquire a company for $750M within one month of launching in the Dutch market!
And, as I promised to my Global Managing Director Day 1, HSBC finally won some awards for the Global App. The first was ‘The Payments Awards’ 2018, where HSBCnet Mobile Won the Mobile Payments prize, up against Consumer Apps such as First Direct, Barclays and Starling. The next Two were prestigious ‘Treasury Management International’ Mobile Innovation awards, where a customer proposes you and their case study forms the prize entry. This reflects the other Results – HSBCnet won a multitude of new High Value customers, some of whom transferred all of their Global Bank Accounts to HSBC because of the ease of use and value of the App to them.
Improved business agility and ability to rapidly respond to change and opportunity
Digital transformation that drives, moves and resets the organisation’s vision
Direct positive impact on internal and external customer satisfaction
Driving a culture of innovation for easier and faster adoption of future digital trends
Effective delivery against financial targets
Increased credibility, confidence and influence across the business
Creating a culture of involvement, empowerment and connection to the business
Lack of transformation, change and agility mindset in leadership
Unclear and siloed business strategy leading to misaligned goals across the organisation that conflict with transformation
The IT function is not aligned to the digital business strategy and vision
Cynicism, lack of buy-in and resistance to change
Conflict between perception and reality of digital skills, tools, methods and talent required and available