Session 6 - HSBC Wealth and Personal Banking
Open Banking-enabled Proposition
HSBC is one of the seven pioneering banks to lead in the supporting the MAS in developing the Singapore Financial Index (SGFinDex). Find out more the journey to get here and how we are supporting our customer’s personal financial planning.
Kieren Soh, Head of Digital Commercialisation, HSBC
Ryan Sim, SVP, Wealth Products Management, HSBC
Cards End to End Digital Journey
In August 2020, HSBC launched a digital straight-through-banking credit card on-boarding experience for new customers leveraging MyInfo - a Government portal that enables citizens and residents to manage the use of their personal data for simpler online transactions. This is an astounding achievement as new customers with MyInfo access can now apply for a HSBC credit card, register for online banking and be ready to spend using a virtual card or Apple Pay within 5 minutes, all on the HSBC Singapore app.
It's a seamless digital journey end to end, from application to instant approval to immediate usage and even account servicing for our customers.
Ng Kwee Song, VP, Cards Product, HSBC
Evaluating Fairness in Artificial Intelligence & Data Analytics (AIDA) decisions for Customer Marketing
AIDA systems can be a source of immense benefits. When not governed appropriately, however, these can cause and perpetuate unintended harms and increase risks. MAS released FEAT principles as a guide to promote Fairness, Ethics, Accountability and Transparency in the use of AIDA by the financial sector. These were co-created with FIs and in phase 1 of the Veritas project, HSBC Singapore, in partnership with FMG, led the development of fairness evaluation methodology for Customer Marketing decisions. In this experience sharing interactive session, we will talk about the methodology creation process using a real use case. We will also share early lessons on our journey to deploy these measures globally and for all customer selection models. This interaction will be of interest to practitioners looking to operationalize governance of AIDA. It will be of semi-technical nature and while we will focus on fairness measures in particular, we will also touch on linkages with other significant governance dimensions – Transparency, Ethics and Accountability.
Gunjan Bhatt, Head of Data and Analytics, Singapore & Asia Pacific International Markets, HSBC
Wealth Digital Enhancements
We will be presenting the new enhancements on our digital platform and this includes our HSBC Mobile app, Online Banking & Public Website and how these journeys will be useful for us to increase our penetration with customers and also engage them for their financial planning to fulfil their wealth needs.
Mahalakshmi Iyer, Wealth Product Management, Wealth Platforms & Digital, HSBC