HSBC focuses on global Indians' needs

Dubai: Non-Resident Indians (NRIs) across the world are looking for seamless banking solutions that connect their banking requirements across the world.

HSBC is increasingly focusing on integrating their banking offerings to meet the requirements of NRI customers, said Naina Lal Kidwai, group general manager and country head, HSBC India.

"Our experience shows that the preferred bank (for NRIs) would be a bank that is able to provide a seamless banking solution and a unified customer experience across geographies. Based on its wide footprint, HSBC is positioned to be able to cater to this," said Kidwai.

Currently, HSBC caters to the banking needs of the UAE-based NRIs through their 'OneWorld' banking proposition launched last year.

The OneWorld Account package combines accounts, remittances and wealth management services-based solutions that are offered in a consolidated manner to a UAE-based NRI customers jointly between HSBC, India and HSBC, Middle East.

"The off-take of this proposition has been good and we have seen our acquisition numbers grow significantly since the time of the launch. While the OneWorld package is specifically designed for the UAE, we also have HSBC Premier - our global personal banking proposition, which is offered across 35 countries around the globe, and is very relevant to the global Indian's needs," Kidwai said.

Although local regulations have restricted the pace of expansion, Kidwai said, in terms of profit and business growth the bank has been rated one of the top foreign banks operating in the country.

With the Indian banking sector set to open up further to foreign participation, HSBC expects to play a larger role in the industry. "This is a great time to be in banking in India, and be part of this process of evolution that it is currently undergoing. Currently, of course, everyone's eyes are trained on 2009 when, as per the Reserve Bank's roadmap, the banking sector will be further opened up. We are optimistic about that, though the extent of liberalisation, we will have to wait and see," she said.

Apart from offering a bouquet of wealth management services to the NRI customers from the UAE the bank is offering a number of valued added services to its middle income and low-income customers.