New business opportunities for
February 2017 Sharon Ambrosio
Working Phases
1.user research
2.user insights
3. general framework
4.strategic propositions
5. proposition overview
HBCS objectives and values “Our objective is to be the world’s leading and most respected international bank� Our purpose is to be where the growth is, connecting customers to opportunities. We enable businesses to thrive and economies to prosper, helping people fulfill their hopes and dreams and realise their ambitions.
1. User Research GENERAL USERS SURVEY
1. User Research DESK RESEARCH
1. User Research DESK RESEARCH
1. User Research DESK RESEARCH
2. User Insights
2. User Insights
DIGITAL & CUSTOMERS EXPERIENCE Mismatch Web - App
Lack of awareness of the existing services
Not user friendly
Customer Assistance
Security
Suspicion
2. User Insights
Excluded segment of the market from digital survey
2. User Insights
Customers attitude contributing to better shape new services
3. Strategic Framework . growth of FinTech business: it drives change leading to the extension of financial opportunity to many more people . the bank industry has been undergoing a local branches culling process . mistrust of security of online financial services . growth of older people in the global market . HSBC has implemented an innovation strategy team following the direction of the FinTech industries . in 2015 HSBC realized Innovation Centres in London and Hong Kong to facilitate internal and external collaboration
4. Strategic Propositions Re-design customers digital touch points: a coordinate mobile app with the website Identity confirmation through new technologies: face recognition, finger print and voice recognition Opens to digital currency bank accounts to integrate new services Customized Personal Virtual Assistant: Consultant for bank account management and future investment Age friendly banking services
5. Proposition overview Age-friendly banking services how to integrate online and physical banking services for elderly context . importance of face to face contact to build trust with the bank services especially in elderly people . cost of accessing online services and fear about fraud as barriers to older people* . lack of computer skills as barriers to older people* . competitors banks already operating towards agefriendly services implementation *ONS reports that in 2013, 23% of those aged 65+ used Internet banking compared to 71% of those aged 25–34. ONS, Internet Access – Households and Individuals 2014, p 7.
inputs and glimpse of the proposal . advantage from the physical branch as place for the face to face contact . training and accompaniment for aging generations to get online to not be ‘excluded’ from technology and digital innovation . open field test opportunity with older people for new customized technologies (ATMs, electronic payment methods, websites and Internet banking, cards) . bank expert employed trained to deal with these specific target . possibility to create and integrate home ‘delivery’ financial services . possible future realization of ‘shared branches’
business potentiality of the proposal . opening and strengthening new channels and a new segment of the market . deliver a better service to existing and new customers and improve customer satisfaction
. introduction of innovative approaches to aging users . build a reputation for age-friendly service that give competitive advantage . strengthening the HSBC nature and image of being a socially inclusive reality
age - friendly banking services key features
References . http://www.ncrc.org/images/a%20new%20dawn-%20age-friendly %20banking.pdf . http://www.gbm.hsbc.com/solutions/innovation https://www.theguardian.com/business/2017/jan/24/hsbc-close-branchesonline-banking-unions-jobs . http://www.independent.co.uk/news/business/news/banks-encouraged-tocreate-age-friendly-branches-for-less-digitally-savvy-older-peoplea7008581.html . https://thefinancialbrand.com/62677/user-experience-ux-design-trendsbanking/ . https://www.youtube.com/watch?v=YaK-5ZA9aPs . http://www.telegraph.co.uk/business/2016/02/20/city-watchdogsinvestigate-financial-age-discrimination/ . Age UK, Age-friendly banking. What is it and how to do it, April 2016