Avoka Congratulates HSBC as it Wins Best Use of IT in Corporate Banking at the 2017 Banking Technology Awards
Pictured Left to Right: Jim Costello (Avoka), Sateen Bailur (HSBC), Jayne Seaford (HSBC), John Goodall (Avoka), Stavros Aivaliotis (Avoka), Susan Holmes (Avoka), and Nick Elsmore (Avoka) accept the award on 12/13/17.
Pictured Front: Host and stand-up comedian Russell Kane.
Last night, Avoka was proud to join our partner HSBC for the 2017 Banking Technology Awards in London. We were part of a big celebration as HSBC took the crown for Best Use of IT in Corporate Banking for radically transforming its digital onboarding process for commercial customers using the Avoka Transact platform.
HSBC started with a complex onboarding experience for its millions of commercial customers across 40+ countries, one that could take 30-90 days to complete. Wide variation in local market requirements created a costly processing burden for the bank and delays for customers.
To solve the problem and transform their customer experience, HSBC successfully deployed a global omnichannel portal to automate commercial onboarding. Built by HSBC on Avoka Transact, it created mobile, desktop, and branch experiences, and connected customers to their relationship manager for streamlined personalized service. The system eliminated repetitive paper forms and built on a common data set globally, while addressing local market requirements in each country. With their new system, commercial onboarding was transformed from months to just a few days.
HSBC set up a global agile development team with Avoka, working closely together on-site to ensure successful delivery. Notable was the speed with which the system was created and deployed. Development was complete three months after project start. The first countries were live within four months, and by nine months from project initiation, 26 countries were live with the system. By now it has been deployed to more than 40 countries, each offering a unique local experience, but all using the common base that speeds processing no matter where the customer is based.
Again, huge congratulations to all involved on the implementation teams from HSBC and Avoka! It’s well-deserved indeed.
To see the winners list, click here.