HSBC and Strategy

The HSBC bank according to the market consensus website (2013) was ranked top amongst other banks in the UK, with global business operations spanning across 85 countries worldwide and a total of $2681 billion in assets. (HSBC, 2012). Over the years, the HSBC bank has deployed strategic information systems to help augment internal processes and increase customer satisfaction.
YEAR
TECHNOLOGY
Strategic Implication/Impact
2003
Whirl/E-Champs Credit Card Authorization and Accounting platform
One of the most successful technology roll-out by HSBC. The platform has significantly helped in reducing cost associated with transaction processing and a 25% growth in credit card handling.
2007
Global Fraud Management Software
Integrating a global fraud management software that is highly customizable to suit different regions has not only helped tackle fraud across the different branches but also helped achieve economies of scale and reduced cost of maintenance
2008
One HSBC Programme
Establish common computer systems across all HSBC branches allowing for a single customer view, which has helped the bank reduce operational cost and has created new business opportunities.
2011
Two Factor Authentication Using Tokens

Widely opposed by HSBC customers, as they deemed it too complicated, some suggesting a mobile app should have been developed to generate the needed one time authentication code.

2012
2013
Fast Balance Application
HSBC Mobile Banking “Sync With Me”
Easy to use mobile application for performing banking transactions on the move on mobile devices. Has been highly accepted by customers with positive comments on its simple interface & easy to use functionalities.

Global Sourcing
Advantages

Receive lower purchase costs
Achieve higher quality
Reduce transportation costs
Take advantage of core competencies of suppliers and/or geographic regions
Find spot market opportunities
Locate near local or regional