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:
The journey involved several touch points, costs incurred for sending multiple documents, and took an average of 124 working days from end to end.
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.
Using vScreen, HSBC’s relationship managers were able to display information, exchange documentation and verify identity.
Customers can electronically sign agreements remotely
in a single interaction.
The Impact
The Impact
