HSBC goes Direct to grow base

The service offering, which seeks to simplify online banking and targets value-driven consumers, was developed by a newly set-up marketing team, led by former Marie France and MSN marketer and HSBC head of direct propositions marketing Asia-Pacific Rose Leng.

"We built a new (marketing team) from scratch, mostly people with no banking experience, so we could think out-of-the-box," said Leng.

"This is the first time that, at HSBC, a product has been developed by the marketing department. The entire look and feel is different from the traditional HSBC identity."

She added the new service aims to provide customers with a simple way to bank, offering high rates of return on deposits, with no minimum balance requirements, lock-ups or hidden fees.

Taking a more customer-centric approach, it simplifies conventional banking procedures and customers no longer have to queue up at a branch. HSBC Direct staff visit customers at their choice of location to conduct identity verification.

"As a foreign bank operating in regional markets, we do have some restrictions on the branches we can open, so this gives us a way to reach the masses in these particular markets," noted Leng.

The bank tasked Landor with creating HSBC Direct's brand identity.

"The logo features a full-stop to show our transparency and that this is where the buck stops," said Ada Chiu, senior manager direct propositions — marketing, Asia-Pacific, at HSBC. "It's a very simple, clean design to reflect our product offering and brand manifesto that 'less is more'."

The team, which invited WPP agencies to pitch for the business, appointed JWT Hong Kong to handle its launch campaign.