HSBC Bank Launches Digital Application Experience for International Clients
August 20 2020 - 9:00AM
Business Wire
New application allows both new-to-bank and
existing international clients the ability to open U.S.-based
accounts from the safety of their home through a seamless, digital
journey
HSBC Bank USA, N.A. (“HSBC USA”), part of HSBC Group, one of the
world’s largest banking and financial services companies, today
launched its latest International Client Onboarding (ICO) digital
application, which allows qualified international clients to open a
U.S. Premier checking account in the comfort and safety of their
homes, anywhere in the world. This digital experience starts on the
web and is completed with a virtual ID Verification, which enables
real-time account opening and setup while significantly reducing
the application turnaround time from two weeks to a few days.
“This new program is the first in-country digital application
journey that allows new-to-bank or existing international clients
the ability to open U.S.-based accounts from home, a need that is
heightened by the current pandemic,” said Paul Mullins, Regional
Head of International for HSBC’s Wealth and Personal Banking
Business. “Our desire is to transform the world’s banking
experience: to make it simpler, better and faster; to make it safe
and secure; to make it easier for individuals to manage their money
and for companies to do business. This level of customer service is
important as we reinforce and simplify the process of doing
business with us for all customers, allowing them to bank with us
where, when and how they want.”
Previously, opening an account in the U.S. was exclusively
paper-based, and in 90 percent of the cases, required a visit to a
branch either in the home market or at destination in the U.S.,
which customers identified as a major pain point.
This new digital experience removes the needed branch visit and
provides real-time ID verification while the client is on the video
call, effectively opening the account and setting them up with
their online banking credentials before they hang up.
ICO Journey at a Glance:
- The client navigates to the HSBC USA Public Website and, if
eligible for the journey, can start and submit their digital
application.
- Upon submission, HSBC’s International Banking Center (IBC) team
contacts the client to schedule the final step – a video call.
- During the video call, the IBC finalizes any account opening
requirements, verifies the client’s ID by asking them to take a
photo of their passport and a selfie, and finishes the account
opening process. While on the video call, the customer is enrolled
in online banking tools or signed up for additional products based
on their needs.
Marcos Meneguzzi, Head of Digital and Unsecured Lending for
HSBC’s Wealth and Personal Banking Business, added, “This new
journey provides a ‘wow factor’ for our international clients,
enabling them to start their relationship in the U.S. without delay
and allowing HSBC USA to grow safely beyond our branch
footprint.”
HSBC Bank USA, National Association (HSBC Bank USA, N.A.)
serves customers through retail banking and wealth management,
commercial banking, private banking, and global banking and markets
segments. It operates bank branches in: California; Washington,
D.C.; Florida; Maryland; New Jersey; New York; Pennsylvania;
Virginia; and Washington. HSBC Bank USA, N.A. is the principal
subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC
North America Holdings Inc. HSBC Bank USA, N.A. is a Member of
FDIC. Investment and brokerage services are provided through HSBC
Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance
products are provided through HSBC Insurance Agency (USA) Inc.
HSBC Holdings plc, the parent company of the HSBC Group,
is headquartered in London. HSBC serves customers worldwide from
offices in 64 countries and territories in our geographical
regions: Europe, Asia, North America, Latin America, and Middle
East and North Africa. With assets of $2,923bn at 30 June 2020,
HSBC is one of the world’s largest banking and financial services
organizations.
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version on businesswire.com: https://www.businesswire.com/news/home/20200820005459/en/
Media contacts: Matt Klein +1 212 525 4644
matt.klein@us.hsbc.com Kathleen Bentley +1 212 525 0423
kathleen.bentley@us.hsbc.com
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