Digital Financial Inclusion

Financial inclusion is a hot topic as the move to online and mobile banking leads to fewer bank branches. When banks announce closure plans they quote how many customers now interact over the phone, internet or smartphone and the number of people registering new mobile phone apps (in the case of HSBC, 90% and 750,000 respectively in the last 12 months).

Although people glibly talk about digital payment and banking broadening financial inclusion, the reality is that many people find it challenging, if not daunting, to go digital. HSBC, which has announced branch closures in the UK, has launched an education programme called HSBC@Home to help address this.

HSBC has 350 specialists across its UK branches trained to help people to go digital. HSBC contacts customers and invites them to join live virtual webinars that cover topics ranging from digital tools and services to fraud and financial fitness. HSBC has held over 200 sessions so far.