HSBC Kinetic Mobile Banking App for SMEs Qorus-Infosys Finacle Banking Innovation Awards 2024
United KingdomCategory
Core Offering InnovationKeyword
Loans, Data, Beyond financial services & ecosystems, SME Banking
Innovation presentation
Recognising that the SME market was under-represented in the banking arena in conjunction with the massive shift towards mobile banking, we set out to create a truly customer centric digital bank account that goes beyond traditional banking. There are approximately 5.5 million SMEs in the UK representing 99% of all businesses in the private sector* *finder.com
To achieve our goal of creating a truly customer-centric SME mobile banking app, we engaged a cohort of 3,000 small business owners to help us develop and shape the HSBC Kinetic Current Account. They provided suggestions and feedback on tools and features that they wanted to see in the app. Our commitment to always listen to the voice of the customer and to integrate their insights, is the reason the app has been so well received. The app has achieved a 4.8 ranking in the App Store and we're seeing customer acquisitions double year on year
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