HSBC 2014 Annual Report Download - page 7

HSBC BANK PLC
Strategic Report: Products and Services
5
Products and Services
The group divides its activities into four business
segments: Retail Banking and Wealth Management
(‘RBWM’); Commercial Banking (‘CMB’); Global Banking
and Markets (‘GB&M’); and Global Private Banking
(‘GPB’).
They are responsible for developing, implementing and
managing their business propositions consistently across
the group, focusing on profitability and efficiency. They
set their strategies within the parameters of the Group
strategy in liaison with the geographical regions, are
responsible for issuing planning guidance regarding their
businesses, are accountable for their profit and
loss performance, and manage their headcount.
Retail Banking and Wealth Management
Products and services
RBWM takes deposits and provides transactional banking
services to enable customers to manage their day-to-day
finances and save for the future. We offer credit facilities
to assist them in their short or longer-term borrowing
requirements, and we provide financial advisory,
broking, insurance and investment services to help them
to manage and protect their financial futures.
We develop products designed to meet the needs of
specific customer segments, which may include a range
of different services and delivery channels.
RBWM offers four main types of service:
– HSBC Premier: we provide a dedicated relationship manager
to our mass affluent customers and their immediate families,
offering specialist and tailored advice. Customers can access
emergency travel assistance, priority telephone banking and
an online ‘global view’ of their Premier accounts around the
world.
– HSBC Advance: we offer our emerging affluent customers
control over their day-to-day finances and access to a range of
preferential products, rates and terms. HSBC Advance is also
the start of a relationship where we give customers support
and guidance to help them to realise their ambitions.
– Wealth Solutions & Financial Planning: a financial planning
process designed around individual customer needs to help
our clients to protect, grow and
manage their wealth. We offer
investment and wealth insurance products manufactured by
Global Asset Management, Markets and HSBC Insurance and
by selected third-party providers.
– Personal Banking: we provide reliable, easy to understand,
good-value banking
products and services using global product
platforms and globally set service standards.
RBWM delivers services through four principal channels:
branches, self service terminals, telephone service centres and
digital (internet and mobile).
Customers
RBWM serves nearly 17.5 million customers in Europe.
We are committed to building lifelong relationships with
our customers as they move from one stage of their lives
to the next, offering tailored products and services
appropriate to their diverse goals, aspirations and
ambitions. We recognise that some of our customers
face financial challenges and, in these cases, we aim to
be tolerant, fair and understanding and to support them
during difficult times. We put the customer at the heart
of everything we do. We constantly carry out research
and invest resources to make sure that customers can
access our services conveniently, securely and reliably.
We have conducted work to ensure that we sell products
that meet their needs and at a price that represents a
fair exchange of value between customers and
shareholders, and have introduced new incentive
programmes that have no formulaic links to sales
volumes but are focused on assessing how well we are
meeting our customers’ needs.
We measure customer satisfaction through an
independent market research survey of retail banking
customers in selected countries and calculate a
Customer Recommendation Index to measure
performance. This is benchmarked against average
scores of a peer group of banks in each market and we
set targets for our business relative to our competitor set
of banks. We expect continuous improvements across
markets in which we operate. We aim to handle
customer complaints promptly and fairly, monitoring
trends to further improve our services.
Commercial Banking
Products and services
CMB provides a broad range of banking and financial
services to enable customers to manage and grow their
businesses domestically and internationally. We aim to
be recognised as the leading international trade and
business bank by connecting customers to markets and
by enhancing collaboration within the Group, both
geographically and between global businesses. A global
operating model increases transparency, enables
consistency, improves efficiency and ensures the right
outcomes for our customers.
CMB customer offerings typically include:
– Credit and Lending: we offer a broad range of domestic and
cross-border financing, including overdrafts, corporate cards,
term loans and syndicated, leveraged, acquisition and project
finance. Asset finance is also offered in selected countries.
– Global Trade and Receivables Finance: HSBC supports
customers’ access to the world’s trade flows and provide
unrivalled experience in addressing today’s most complex
trade challenges. Our comprehensive suite of products and
services, letters of credit, collections, guarantees, receivables
finance, supply chain solutions, commodity and structured
finance and risk distribution can be combined into global
solutions that make it easier for businesses to manage risk,
process transactions and fund activities throughout the trade
cycle.
– Payments and Cash Management: HSBC are strategically
located where most of the world’s payments and capital flows
originate. We provide local, regional and global transaction
banking services including payments, collections, account
services, e-commerce and liquidity management via e-
enabled
platforms to address the needs of our customers.
– Insurance and Investments: we offer business and financial
protection, trade insurance, employee benefits, corporate
wealth management and a variety of other commercial risk
insurance products in selected countries.
– Collaboration: our CMB franchise represents a key client base
for products and services provided by GB&M, RBWM and GPB,
including foreign exchange, interest rate, capital markets and
advisory services, payroll and personal accounts services and
wealth management and wealth transition services.