Engaging customers in the new world

Matt DooleyHead of Digital Experience, Global Commercial Banking,HSBC

The Asian Banker Summit 20118 April 2011

Old Bank Engagement

The Banker and Customer:

Separated, two way communication, financial matters…..

Old Bank Engagement

Evolving…..more transparent

Old Bank Engagement

Evolving…..now multichannel

Bank Engagement

LIFE IN THE NEW WORLD

Digital is all about experiencesA blur between digital and physicalAlways connectedRelevant, intelligent interaction and communication Security and privacy are of primary concernToo much information Social

ENGAGING CUSTOMERS IN THEIR NEW WORLD

Creating a more engaging MORTGAGE experience

The customer’s view

9

Collect info about places to

live

Collect info about house

types

Visit houses

Visit suppliers

Collect info about Finance

Work out how much can afford

Obtain valuations

Get info on existing loan

Find agent

Find Solicitor

Collect info about conveyancing

Prepare house for sale

Handle all paperwork

Organise furniture storage

Collect info on available houses

View & inspect houses

Collect info on services

Collect info on loans

Arrange property inspection

Negotiate purchase price

Find block

Arrange purchase on land

Find & appoint solicitor

Find & appoint architect

Find & appoint builder

Check contractOrganise plan

approval

Check building progress

Submit bid

Appoint solicitor

Collect info on conveyancing

Handle paperwork

Apply for mortgage

Finalise finance

Make necessary arrangements

Organise financial arrangements

Check info on loan terms

Visit bank to discuss loan options

Find out how much can borrow

Collect info required

Complete application forms

Get solicitor to check documents

Sign letter of offerSign mortgage

documents

Prepare new house

Appoint removalist

Arrange utility connection

Organise move

Inform of change of address

Find out about local services

Organise new bank arrangements

Gather info on housing trends

Find out about extensions & renovations Find out about

changing financial situation

Review housing alternatives

Arrange final settlement

Handle any contract

problems

Organise bridging finance

Organise repayments

Organise final inspection

A complex and very important decision

Over 60 different encounters with multiple information providers including banks

The home buying experience

10

A complex buying process

Place the bank in the experience

Place the bank in the experience

Place the bank in the experience

Click to the bank

Or simply become the experience.

View house details

Last sold

Estimate repayments

Local recent sales

Get the bank to contact you

ENGAGING CUSTOMERS IN THEIR NEW WORLD

CustomisedAggregatedRelevantSocial

Source: Forrester ‘Future of Online Customer Experience’, Mar 2010

Expat Insights Expat Explorer, expatexplorer.hsbc.comUnique insight into expat life and issues

Exclusive research, insights, and advice. More than 4,000 expats answered questions relating to their finances, quality of life, and even what its like to raise children abroad.

Customised by the end user

Relevant to you

Relevant to you

Aggregated at the point of use

Engaging content

Appropriate products and services

Firstdirect.comDigital and Socially Active Bank

Building brand, reputation, and customers through honest dialogue on social sites

Social: the rule, not the exception

Social is changing behaviour

“75% say friends influence brand decisions versus

16% for advertising”

Source: BMRB 2009

The Social State that we’re in.

“66% of people trust banks less that they did 5 years ago”

Source: ICM poll of 752 UK Adults, January 2010

Social to listen

Social for insight and conversation

Social to amplify news

Social to inspire advocates

Social for more engaging ads

Social for brand

Social for trust, respect, and results

OTHERS ARE ENGAGING BANK CUSTOMERS

Lenders and borrowers engage directly

Zopa.comSocial lending marketplace

People lend and borrow money with each other, sidestepping the banks. Both lenders and borrowers get better rates as they argue “more efficient” than traditional banking model

Enable engaging, simple payments

Squareup.comAccept payments. Everywhere

Enables anyone to accept debit and credit cards anywhere. Easy to use, card reader that plugs into a phone or iPad. No contracts, monthly fees or merchant account. Just one fee of 2.75%!

Aggregating accounts

Mint.comAccount Aggregator

Easy to use. Easy to understand. Visualise all your personal finances and transactions to tell you what your worth and new things about your money, instantly

Aggregating your life

Manilla.comAggregator

Allows you to view and manage your accounts, bills, alerts, offers and reminders in one spot, using one password. Automatically filing and archiving.

A Final Thought

Thank you

Matt DooleyHead of Digital Experience, Global Commercial Banking,HSBC

Email: matthewdooley@hsbc.comlinkedIn: matthew dooleyTwitter: mattldooley