Fit for today, fit for tomorrow

I have been reflecting a lot on how we ensure our business can thrive as we go forward. Much has changed over the course of this year and it has been important to reflect, rethink and renew. 

‘Reflect’, ‘Rethink’ and ‘Renew’ are three words that sum up the current thought process in virtual boardrooms up and down the country, as well as in kitchens and living rooms nationwide as we all reflect on the impact Covid-19 has had on the way we live our lives.

The pandemic has undoubtedly had a significant impact on businesses and HSBC UK is no exception, with our customers and colleagues having to come to terms with new ways of managing their finances and new ways of doing their jobs. 

Of course none of us wanted to have to face the challenges that have been forced upon us. That said, Covid-19 has simply accelerated the pace of change that some businesses were already seeing and it doesn’t make sense to go back to old ways.

Certainly for me, the pace of change in our ways of working and customer behaviour has crystallised what I already believed to be true – that HSBC must continue to change and modernise. I have a responsibility to colleagues and customers to successfully drive our business forward, maintain a healthy business model and ensure the organisation is fit to succeed in what will continue to be a challenging environment for some time to come. This is how we’ll do it.

HSBC UK will be Digital First or, more specifically, Mobile First. We’ll make mobile the first choice channel for all of our customer journeys and interactions – from information gathering, beginning an application, being accepted and managing the relationship. Our products and services will be digital by design, not digital in support.

Digital First will be supported by best in class customer service. Banking is a people business. We will be led by customer and market insight and be where we are needed, helping customers with their financial needs and assisting them to adopt modern technology where it will improve their experience.

Our people are our greatest asset and the human touch remains crucial for those moments that matter including complex financial activities and big life events. However, for most transactional tasks, customers want instant interactions, in a format and at a time that suits them. They will increasingly manage their everyday banking needs from the comfort of their home, at the touch of a few buttons, whenever it comes to mind. The bank in their pocket.

As customer behaviour is constantly evolving, so too will the way in which we serve our colleagues. We want colleagues to enjoy flexible and fulfilling career journeys with HSBC, building an agile workforce that enables resource to be focused where there is most need. This means our ways of working will evolve and create opportunities for our people to work more flexibly, making HSBC an even better place to build a career and achieve work/life balance.

I am fuelled by pride in what we’ve achieved since Covid-19 impacted us. I am proud of our support to customers, how we have enabled and empowered colleagues, and the role we’re playing in supporting the economic recovery. The banking industry can get a bad press, but I really believe it should stand proud in how it has responded to this crisis.

As people get back on their feet and others face into prolonged periods of financial uncertainty, we will champion financial education and inclusion, with many programmes planned and underway to build people’s financial fitness at all ages and life stages. We will also build back ‘better’. Our operations will be more environmentally friendly and we will support our customers’ aspirations to make a positive change in the world, by advising them on appropriate ESG/sustainable investments.

We are incredibly proud of our work in supporting the most vulnerable in society, and this will remain at the top of our agenda; bank accounts for victims of human trafficking and those experiencing homelessness, measures to protect the anonymity of victims of abuse, services to help customers living with dementia to maintain their independence – the list goes on and will continue to build.

Of course we maintain a growth lens - HSBC remains committed to helping people realise their dream of owning their own home with market-leading mortgage offers.  And we believe ‘wealth’ should be accessible to everyone - no matter how much or how little you have to invest, you can start somewhere and build your finances over time, supporting sustainable ventures.

The impact of Covid-19 will continue to be felt for some time to come. We will not wait for it to pass, we have begun to evolve and will continue that journey, to ensure HSBC UK is able to serve its customers, provide a safe working environment, support career development and be a good corporate citizen.

We must be open to change. Customers will interact with us differently. The needs of our customers and colleagues will change. The working environment will be more flexible. And we’ll be ready.