HSBC UK: Retail Banking Competitor Profile

Date: 2015-11

This profile benchmarks HSBC’s customer satisfaction, customer trust, and customer perception ratings in terms of innovation and digital offerings against its rivals and the industry as a whole. It looks at the bank’s penetration in key product areas, cross-holding rates, and marketing. It also analyzes the bank’s key financials.

– Gain an insight into customer perceptions of HSBC on issues of account satisfaction, trust, and innovation.
– Discover HSBC’s market share in key product areas.
– Learn how HSBC compares against rivals and the industry on key metrics.

– What do HSBC customers think about the bank?
– How does HSBC compare against its competitors on key metrics?
– What is HSBC’s marketing strategy?

Key Highlights
HSBC UK customers are less satisfied with their personal current account compared to the national average. Customer service and digital banking services are areas of key concern.

HSBC UK customers do not see it as a particularly innovative or forward-looking bank. Compared to the national average and against its main competition, HSBC is also seen to be slow at embracing new technologies. This is perhaps a result of issues such as the length of time it took HSBC to launch a mobile banking app.

Despite having a big presence on the UK high street, HSBC does not come close to being the largest provider in any of the key banking product areas. For example, it is only the sixth largest current account provider.”

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