See how Vizolution helped HSBC improve Receivables Finance conversion rates by 300%

Serving over 39 million customers, HSBC is one of the world’s largest banking and financial services organisations. It operates through four Global Businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets and Global Private Banking.

With offices in 66 countries and territories, HSBC is overhauling operations to meet the needs of its global customer base, by streamlining complex customer journeys and providing more intuitive interactions, whether in branch or through remote advisory sessions.

Its UK mission, “Together We Thrive”, reflects the bank’s view that people, communities, and businesses can all thrive when connected to something bigger.

HSBC found that the customer experience of signing up to and starting a receivables finance journey could be complex and time-consuming.

It was identified that the customer journey was not clear or defined:

1. The journey involved several touch points, costs incurred for sending multiple documents, and took an average of 124 working days from end to end.
2. Customer satisfaction (CSAT) scores were 58%, and conversion rates saw a higher than optimal dropout rate during the process.

HSBC initially partnered with Vizolution to transform a multitude of journeys within its UK Commercial Banking (CMB) division, including the Receivables Finance journey.

Due to Vizolution’s agile development process, the Receivables Finance customer journey was developed and deployed specifically to onboard clients for their Business Banking segment.

1. Using our platform, HSBC’s relationship managers were able to display information, exchange documentation and verify identity.

2. Customers can electronically sign agreements remotely
   in a single interaction.

HSBC initially partnered with Vizolution to transform
a multitude of its commercial journeys within its UK Commercial Banking (CMB) team, including the Receivables Finance journey.

Due to Vizolution’s agile development process, the Receivables Finance customer journey was developed and deployed specifically to onboard clients for their Business Banking segment.

Branded “LinkScreen” for HSBC, the platform is powered by Vizolutions’s technology. LinkScreen is a live-sharing solution that enables relationship managers to display information, exchange documentation, verify identity and collect electronic signatures in a single customer interaction.

The result is a journey that combines the quality of face-to-face interactions with the low costs and convenience of remote channels, allowing customers to do everything they could in branch in one seamless remote interaction.