Connected Money from HSBC Qorus Banking Innovation Awards 2018 - Winner

Connected Money is a free iOS mobile app for our HSBC UK customers that is part of our response to the increasingly competitive, digitally driven, open banking world; and reflects our understanding that our customer’s relationship with money and their financial needs are ever-changing. We wanted to provide our customers with a solution that gives them greater control, and takes the hassle out of managing money, which is still too often a complex and onerous task. In essence, we wanted to reinvent day to day banking for a new, digitally engaged generation using open banking as our inspiration. The app, which launched 30th April 2018, includes a range of innovative tools that help customers understand their money better, no matter where they’re banked. Connected Money achieved 100k downloads in the first 2 months alone and feedback has highlighted that we are helping customers with their financial wellbeing. The development and launch of Connected Money was a new journey for the bank, and we had to overcome several internal challenges and create a new way of working. To achieve this, we established digital delivery teams that are completely cross-functional, including housing all the skills needed in one place – developers, designers, risk, compliance and marketing. Continued innovation has been at the heart of this project, from concept to delivery and has resulted in HSBC being the first of the high street banks to deliver a customer proposition, with open banking at its core.