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Making banking simpler and more sustainable

We’re committed to making banking faster, simpler and more transparent; to helping meet people’s financial needs in the markets where we operate; and to having a positive impact on the planet in general.

Our latest Environmental, Social and Governance (ESG) update outlines what we’re doing to achieve these goals (among others), how we’re doing it – and where we need to improve. 

We provide examples of how we’re acting on customer feedback and how we’re supporting sustainable growth to ensure we’re meeting our obligations to the communities we operate in.

View full ESG report 

Customers: Acting on your feedback

Listening to customers and acting on their feedback is vital to making our services more accessible and transparent. It has also prompted us to streamline and improve our processes to provide a better customer experience.

 

Here are a few examples of what we’ve done so far:

 

1 . Making banking more accessible 

Customers said: Logging on to our online and mobile banking was too complex.

What we did: Made it easier for customers to access their accounts, while ensuring robust security. 

For example: We’ve introduced biometric (Touch ID & Voice ID) verification, with 40% of logons not requiring passwords.

 

2. Making fees and charges transparent

Customers said: It was sometimes difficult to understand when and why they would be charged for our services.

What we did: Enhanced our direct communication with customers to help them understand their finances and avoid fees and charges. 

For example: In the UK we have sent customers more than 600,000 overdraft alerts and 500,000 advance warnings of possible fees.

 

3. Tackling complexity

Customers said: HSBC’s processes and procedures were too complicated.

What we did: Changed the way we operate to make banking easier.

For example: In the UK, we’ve made it an easier process for people to get a mortgage – reducing the application period from 5 weeks to 2 weeks.

 

We have much further to go in improving customer satisfaction and making it easier for our customers to work with us. We’re now reporting on customer satisfaction in all of our global businesses, and are working hard to make our services faster, simpler and more transparent.

Sustainable growth

We recognise economic growth must be sustainable and we’ve taken genuine strides forward, setting out a series of commitments in 3 main areas: sustainable finance; sustainable networks and entrepreneurship; and future skills.

 

This includes a pledge to build financial capability for our customers, colleagues and communities, equipping them with the skills and tools they need to manage their money well. As part of this, we’ll donate USD35 million towards financial education charity programmes, aiming to support 1 million people by 2020. 

 

Sustainable growth also means environmental commitments; we’ve reduced our CO2 emissions by 41% since 2011; other commitments include:

  • Source 100% of our electricity from renewable sources by 2030, with an interim target of 90% by 2025
  • Reduce waste by 75% by 2020 (set from 2011 baseline)
  • Reduce paper by 66% by 2020 (set from 2011 baseline)
  • Reduce our exposure to thermal coal and actively manage the transition path for other high carbon sectors
  • Lead and shape the debate around sustainable finance and investment

 

You can read more about our progress on these and other commitments – from employee development to financial crime risk management and cybersecurity –  in the full ESG update

 

Why are we telling you this?  

As well as being the right thing to do, we firmly believe that sharing this information will help us build stronger relationships with our customers, employees and the communities we serve.

We're here to help you. Find the answers and while you're at it, tell us how we could do better.