Technology-HSBC Case Study Essay Example for Free

Technology-HSBC Case Study EssayHow has the comp each chosen to amend its knowledge of nodes and therefore its decision making? Analyze the management, organization, and technology dimensions of the solution. HSBC, as with other banks, took advantage of umpteen poor consumers looking to own their own home. These consumers had low credit scores, are in default or have low income, which means there was a higher probability of them not paying second the give. These banks took advantage by not explaining the entire process of how the amount will double and the interest consider will become adjust equal to(p) after a couple years. This led to many subprime mortgage impart holders to not meet payments and eventu everyy lose their home. Because of this HSBC was one of the first banks announce a billion dollar write-off linked to its expo trustworthy to subprime mortgages. (Modell) HSBC improved one way by advancing their technology. Data is smooth and sent to one team of speci alized individuals who make sure that all is correct for approval. HSBC also utilize a in the buff process using Experian-Scorex decision support software. This new software will facilitate HSBC with their decision making process.It allows HSBC to identify the hold dear of each customer and create tailored product packages. (Finextra) George Lennox, a senior manager at HSBC, stated Strategy Management will undoubtedly become an intact part of our business and we expect that it will make more than 50 billion customer decisions per annum for us as we roll it out across our global business. (Finextra) They have also decided that customer satisfaction and building trust is more important than profit. Did HSBC choose the best solution? Explain your answer. HSBC chose a great solution.They allowed almost anyone to obtain a loan as long as they met some requirements. By using the new strategy management software they implemented, they will be able to make sure that each customer loo king for services are eligible and able to keep the services. Explore HSBC . Does this sack up site provide opportunities for HSBC to gather data about its customers? Describe the customer data collected at the Web site and explain how that data can be used to improve its business performance. Would you redesign the Web site to increase interactions with customers?I explored HSBCPremier, where they gave piles of teaching on how I can lighten money for my family, for example a college fund or saving for my childs first car. HSBC requests lots of information mostly general such as name, date of birth, social security number and number one woods license number. But they also request other information such as any current loans or mortgages, and for instant funding you need to provide them with your current banking information. By collecting all this information, it gives HSBC the right tools to be able to assist customers with great satisfaction.HSBC has requirements linked to all their services. They want to service customers in the best way so they use the information collected to give customers the best service. I would not redesign the entire website. It seems pretty clear to me that not only do they give much information on each product and service they provide, but you are able to contact a articulation who will clearly interpret anything you dont understand. But one feature that I would annex is in the contact us section, an option to palaver with a live operator.This will allow customers to chat online with a representative about services without having to call on phone or go to a location. HSBC had decision making tools in place prior to the subprime meltdown. Why would you think they missed or handle the potential catastrophic consequences that became reality? What added value would the new Experian-Scorex software provide? HSBC was looking to expand in the U. S. With the rise of consumers looking to become homeowners, as a business your first i nstinct is to get in the game and increase profits.I believe that HSBC only wanted to grow and help customers, but repayable to not being psychics and knowing that the market would crash and people would lose jobs and not be able to pay back loans, they lost in that game. When you have lenders not collecting the right information on consumers to help predict if they are able to pay the loan or not and not explaining the loan correctly to consumers, it causes conflicts. Consumers did not really understand the loans they just knew they would become homeowners. Subprime loans are the worst, to me.Who wants to pay back 10 times what their home is actually worth? The new Experian-Scorex software will provide great value to HSBCs strategy management. This new system will collect information and will help HSBC in their credit decisions. George Lennox, Senior Manager, Group Credit and Risk at HSBC As one of the worlds leading pecuniary organizations, it is important to us that we make use of leading edge decision support technology. (Experian) By implementing this new technology, HSBC will better assist their new and existing customers.