HSBC Bank is a multinational banking and financial services organisation. They are one of the largest banks in the UK, and has over a million app users worldwide.
1.4 OUT OF 5 ON THE APP STORE
It bewilders me that HSBC, one of the most common global banks, has a rating of 1.4 on the Apple App Store. Users cite a combination of bugs, crashes, and unfriendly user interface as some of the problems they faced when downloading the app.
As a HSBC user myself, I can attest to these problems. The HSBC app has many wonderful features, such as in-app chat, the ability to call an operator right away and they know who you are, the ability to cash cheques in a couple of taps. However, the painfully slow load and waiting times are enough to make me close the app, open my laptop, and log on online, losing all those benefits of having the app on my phone.
HSBC is not a challenger bank - and this is both, a good and a bad thing. It’s good, because it’s more of a trusted name, it has physical branches that are better for those that need it, e.g. ageing populations.
However, all that changes when challenger banks present the main driving force behind their brilliance - tech. It’s easy and much, much quicker to set up an account, instant payments, and a fluid digital experience on the app.
Tech is the future, and traditional banks, unfortunately, just aren’t pushing hard enough.
The concept was fairly straightforward - make it as easy as possible to see how much money was coming and going, and where it was coming from or going to. This involved having a challenger bank-style identification system that shows you the name of each retailer, along with a recognisable logo, as well as having known payees with their first names and profile pictures, instead of sort code and account numbers.
Where I think this approach really shines is on the Support page. As a HSBC customer, I sometimes need assistance with a transaction, and I’m found to be jumping through unnecessary hoops before I can even talk to a representative about the transaction. With the new approach, users are able to quickly select a recent (or older) transaction they need help with and can connect with a representative in just a few simple taps.