HSBC Case Study: Digital Transformation of Customer Experience & Work Methods

Running head: HSBC
2017 Case Study: Digital: Transforming Customer
Experience & Work Methods
[HSBC]
Name of the student:
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1HSBC
Table of Contents
A. A Brief bank profile....................................................................................................................2
B. Customer complaints...................................................................................................................2
C. Employee complaints..................................................................................................................3
D. Differences between the customer journey for online vs traditional banking............................4
E. Gaps identified by the customers................................................................................................5
F. Customer negotiation...................................................................................................................6
G. Develop a chart...........................................................................................................................7
References........................................................................................................................................9

2HSBC
A. A Brief bank profile
HSBC is one of the most reputed and the biggest banks in the world which has its
origination in Hong Kong. However, this is actually a British Multinational and financial service
company. It is the seventh largest banks on the global basis in terms of the total assets. It
originally belongs to Hong Kong and to quite a few extents to Shanghai. It has its existence
being spread over the entire world. The existence can be observed in different countries and
regions like Europe, Latin America & North America, the Middle East, Africa and Asia.
Approximately, close to 38 million people are the customers of HSBC. It provides services
through different sectors like Commercial Banking, Retail Banking and Wealth Management,
Global Private Banking and Global Banking and Markets (Hsbc.co.in).
B. Customer complaints
The process of allowing customers open up a new account with HSBC was traditionally
very time-consuming and annoying as well. Customers had needed to follow a lot of formalities
and had to sign in numerous places. The process was very similar to what other top class banks
in the world follow. However, in the ever-rising market competition, it is important to be
innovative (Miozzo et al. 2016). Being one of the largest banks in the world, HSBC was in
regular search for an innovation to provide its customers a much better experience. After years of
extensive experiments, HSBC had finally succeeded in bringing an innovative idea that promises
to define a new experience. The idea or the innovation is LinkScreen powered by Vizolution’s
technology (Vizolution.co.uk). The idea promises to deliver a never before experience to
customers. Customers will no longer be require to be present physically in bank stores at least for
quite a few purpose like opening of an account. The process will now be much smoother and

3HSBC
faster also. Innovation in the form of LinkScreen was initially misunderstood and customers
thought that the service will now be even painful. However, the digital platform has actually
surprised customers with its intelligent performance. Customers will now be able to see their
transactions and also the request or the complaint status in real time.
C. Employee complaints
Employees are always wary of changes being brought into the system. Changes may be
smaller or bigger that purely depends on the management’s decision for this. There are many
reasons why employees are worried about changes. The level of unknowingness with the change
can be the one possible reason. They find them as uncertain on whether the change is compatible
with the existing system. They may also be wary of the level of training which will be required
to effectively understand the new system. On top of all, employees may also be wary of their job
security. They might panic for a fact that the new job will require a new set of workforce and
hence, their sustenance is in danger. The level of threats can be much severe if the transition is
bigger and innovative as well (Dabari and Saidin 2015).
In reference to the digital platform as introduced by HSBC, the change is bigger and can
be a factor of worry to those employees who are not equipped with a sound technical knowledge.
Notably, the newly introduced automated system can reduce the work burden which means that
there will be job cuts. Job cuts are one of the fears which few employees might panic from
(McManus and Mosca 2015). However, the change will also benefit the few other employees
who are well versed with relevant technologies. They will now have the added responsibilities in
the form of taking care of the digital platform. Moreover, such employees will have more