HSBC

HSBC holds a strong position within the UAE financial sector, offering a comprehensive array of services that range from personal banking to investment solutions and serving a diverse customer base of both residents and expatriates. HSBC aims to provide a globally accessible banking experience. The recent improvements in the bank's digital platforms, including online account opening and a mobile application, reflect a commitment to leverage digital technologies to drive adoption and reduce manual transactions. HSBC has climbed an impressive 32 ranks in this year's survey compared to the 2022 survey.

Customers appreciate the convenience of being able to open an account online without the need to visit a physical branch. This is seen as a significant advantage in today’s digital age, with 16numerous financial institutions across the world adopting this model. The bank’s mobile app is well-received, with customers liking its user-friendly interface and features. Like multiple other banks, the HSBC app allows customers to manage their finances on the go, which is a big plus for many. This is an outcome of the ban’'s focus on improving its digital front-end capabilities to drive adoption and reduce manual transactions.

Over the past year, the bank has focused on five key areas to expand the use of their mobile banking app: adding new wealth capabilities, offering a global wallet supported by a multi-currency virtual and physical debit card, enabling the ability to convert credit to cash, expanding the currencies available on global money transfers, and overall improvement in UX and UI. As an illustration, the bank has released new features such as a cash installment plan, mobile equities, a global money card, and servicing features. As a result, the proportion of customers classified as‘'Mobile Activ’' by HSBC rose by more than 10%.

From a service offering perspective, customers praised the wide range of services offered by HSBC, from various types of accounts to investment opportunities. The bank’s international exposure and the ability to use its services globally, including its debit and credit cards, are highly valued by customers who travel or have international financial needs. This makes it a one-stop-shop for many financial needs in a country where 80% of the population is constituted of expats.

Multiple customers mentioned that they had a good experience with customer service, particularly in resolving issues and explaining services like cryptocurrency investment. This indicates that the bank is effective in providing support and information.

The bank has enhanced its ability to listen to customers by expanding the scope of the Net Promoter System (NPS) in the UAE. They have also launched Journey NPS (jNPS) surveys.

HSBC Middle East is aware of the need to continue to innovate to take advantage of new digital capabilities to best serve customers. The company has developed a UAE Customer Experience plan that includes the following key components:

• Aligned with the overall HSBC Grou’'s strategy, aiming to deliver better customer experiences.
• Enhanced measurement through metrics and KPIs that gauge customer satisfaction and experience.
• End-to-end customer journey ownership from onboarding to using various services, to ensure a seamless experience.
• Customer-obsessed culture which is a strong focus on creating an internal culture around delivering excellent customer service.
• Simplifying and streamlining internal processes via‘'Live Lab’', which are HSBC’s innovation labs that aim to foster innovation and collaboration within the bank.’