HSBC aims to be most respected bank in Philippines

MANILA, Philippines — HSBC Philippines, a long-standing player in the country’s financial landscape for nearly 150 years, is doubling down on its commitment to long-term client support and digital innovation.

HSBC Philippines president Sandeep Uppal said the bank is further strengthening its position in the Philippine banking sector with a renewed focus on digitization, customer flexibility and long-term support for client growth.

“Our ultimate ambition is not only to become the largest international bank in the Philippines, but to be ‘most respected’ by our peers, clients, employees and other stakeholders,” he said in an e-mail interview with The STAR.

He said that the bank is investing in talent development and digitization of processes to provide faster, more agile and more secure services for clients navigating the digital economy.

“We have been here for almost 150 years and we look forward to continue supporting our customers for centuries more,” he said.

“We stand ready to support them on their growth and expansion journeys and to provide them with the right banking solutions to capture the opportunities in the region’s fast-growing digital economy,” he added.

According to Uppal, HSBC Philippines is giving its customers flexibility on how they interact with the bank.

While the bank has digital tools to support clients’ needs and do banking transactions anytime, anywhere, HSBC still has dedicated relationship and client service managers to deliver personalized service.

The “human touch” allows the bank to deliver better products, services and technology tailored to client needs, helping customers protect and grow their financial wealth.

Some examples of innovation by the international bank include a fully digital, end-to-end application process for HSBC credit cards, offering customers added convenience and faster turnaround times.

Through HSBC’s strong global presence and international connectivity, the bank is also able to connect Filipinos with the rest of the world. Premier customers can open an account in any country where HSBC Wealth and Personal Banking operates. Clients can also transfer funds between HSBC accounts free of charge via online.

“Long-term customers will still prefer a mix of digital for routine transactions, and the human touch for more complex transactions, such as wealth planning and investing,” Uppal said.

The bank has invested in new wealth systems last year to digitize the financial planning experience for premier customers and streamline the booking process for funds.

HSBC is also committed to ensure safety and security in banking. Its online banking service is protected by top-tier security technologies, providing strong safeguards against unauthorized access.

HSBC Philippines will continuously invest and deploy more digital payment solutions to support clients in its wholesale banking business.

“We continuously invest in technology by way of delivering faster, easier and more secure digital banking and will be crucial to helping us win and retain new customers while becoming more agile and efficient, and enabling us to create seamless customer journeys,” Uppal said.

He said the bank is seeing rapid digital adoption in the Philippines and the wider region. Thus, HSBC recognizes the need to step up to help clients adapt to changes in customer behavior.

Earlier in March, HSBC Philippines introduced Omni Collect, a solution designed to streamline digital payment processes for businesses, enabling them to collect payments from customers through multiple channels, including online payments, electronic invoicing and direct debit.

The bank also announced its participation in InstaPay, the real-time payments system under the Philippines’ National Retail Payments System. This allows corporate clients to make high-volume payments to employees, suppliers, partners and customers with greater speed and efficiency.

“With significant growth in the Philippine e-commerce sector, the solution can help digitalize companies in various sectors such as retail, consumer brands, healthcare and pharmaceuticals, shipping and logistics and financial services,” he said.

Uppal also said that a high growth economy like the Philippines provides the banking sector with a terrific platform for growth.

As part of its commitment to nation building, HSBC is leveraging its international reach to connect clients to opportunities both locally and globally, supporting business growth across Asia, Europe and America.

HSBC recently partnered with the Philippine Export Processing Zone Authority (PEZA) to help drive foreign investments into the country as well.

The bank facilitated a PEZA delegation to key Indian cities, aiming to explore potential partnerships in the pharmaceutical and information technology sectors to benefit the Philippines’ healthcare system and boost employment.

HSBC also invests significantly in its workforce, equipping employees with the skills and expertise necessary to provide top-tier service to clients in their business and personal banking needs.