The bank intends to significantly expand its retail branch network by opening up to 50 branches in new and existing markets, which will help create more than 300 jobs.
HSBC Bank USA has opened a new branch office in Cupertino of California to serve customers in the region.
HSBC retail banking and wealth management head Pablo Sanchez said: “Retail branches are important and will continue to maintain a prevalent role in acquiring, retaining and serving customers.”
HSBC is advancing optimising its existing network to right-size and grow its business, in addition expanding its footprint into new and existing markets to increase its customer base, specifically in the ex-pat communities in America’s global metropolitan markets.
The new and optimised branches will feature flexible, open and collaborative spaces with extensive room for meetings, customer lounges and internet bars as well as digital signage and touchscreens
HSBC retail banking US head Anthony Glover said: “We’re taking a targeted approach in investing in branches that function as advice centers to continue to build our best-in-class international value proposition, which includes servicing international execs, expats, immigrants and foreign students, while taking a hard look at expanding to major markets like Houston and Chicago.”
Over the last one year, HSBC made various announcements, including partnership with Amountthe end-to-end technology platform of online lender Avant. The new digital lending platform will allow give US consumers, including existing HSBC customers, to apply for personal loans online.
The bank has collaborated with Marstone digital wealth management platform for the development of HSBC Wealth Track, a software based investment advice platform that allows clients to instantly create a diversified portfolio at a low cost for both retirement and non-retirement accounts.
The bank has also provided customised Samsung Gear S3 smartwatches to HSBC branch employees, under a pilot project. The watches are designed to improve customer service by making in-branch communications more seamless and efficient between team members.
