Dubai: The unique size of its customer base and customer requirements in the UAE have prompted HSBC to launch an all-new digital service platform for its wealth management services in this market.
“The UAE is a great market for wealth management because of the type of customer base we have here and this is a small enough country to implement such as project on a pilot basis,” said Andy Ripley, head of Retail Banking and Wealth Management at HSBC, UAE.
HSBC has more than a 100 qualified financial advisers who advise customers on goal-based financial plans. The bank said the new service will allow HSBC’s relationship managers to engage clients more effectively and utilise the new interface to provide more focused advice and instant paperless services.
With the Strategic Financial Planning (SFP) tool and Wealth Dashboard on their tablets, HSBC’s relationship managers can take the bank to clients anywhere, anytime.
Strategic Financial Planning is HSBC’s exclusive platform based on a set of financial planning standards defined and endorsed by experts and implemented across key HSBC sites globally. The Wealth Dashboard allows clients access to all their investments with HSBC through a single view.
“This is not about putting basic services onto a tablet in the name of innovation, this is about enabling discerning clients with busy lives to continue fulfilling their investment strategies and wealth plans, in a secure and efficient way at a time and place of their choice,” Ripley said.
Through HSBC Tablet, clients can go through a fully-fledged financial planning and risk-tolerance exercise, select the appropriate insurance and investment product recommended by their relationship manager as per their need, instantly authorise transactions via digital signature, including the electronic capture of supporting documents, with the full report in their inbox by the end of the meeting.
“The reason tablet banking works really well in this market is that premier customers don’t like waiting in queues and looking for parking at branches. People are busy and don’t have time during office hours and therefore this is a service many customers are appreciating now,” he said.
