Driving Digital Innovation
A Case Study on HSBC's Transformation with Product Evolve
Introduction
In this case study, we delve into the successful digital transformation journey undertaken by HSBC in partnership with Product Evolve. Focusing on the development and implementation of digital products, we highlight the collaborative efforts that led to the successful launch of the payment tracker, account renaming feature, and new lending products.
Digital Products
Product Evolve collaborated with HSBC to develop and launch the following digital products:
Payment Tracker [Web & Mobile]
Product Evolve successfully launched an international payment tracker solution for HSBC US, providing customers with real-time tracking and transparency for their international payments through both web and mobile platforms.
Rename Accounts
Product Evolve led the development and launch of the account renaming feature for HSBC’s mobile banking users, enabling customers to personalise and easily identify their accounts.
New Lending Products
HSBC Canada introduced new lending products with the support of Product Evolve, providing innovative and customer-centric loan solutions to meet the diverse financial needs of their clients.
Responsibilities
Product Evolve undertook various responsibilities to drive the successful implementation of digital products for HSBC:
Launching Payment Tracker
Product Evolve successfully led the launch of the international payment tracker solution for HSBC US, working closely with stakeholders to ensure a seamless user experience and timely delivery.
Account Renaming Feature
Product Evolve spearheaded the development and launch of the account renaming feature for HSBC’s mobile banking users, providing customers with a personalised and user-friendly banking experience.
New Lending Products
Product Evolve played a key role in launching new lending products for HSBC Canada clients, collaborating with cross-functional teams to ensure product readiness, regulatory compliance, and customer satisfaction.
Vendor Management and JAD Sessions
Product Evolve managed external vendors involved in the development process and facilitated Joint Application Design (JAD) sessions to gather requirements and align stakeholders’ expectations.
Backlog Prioritization and Issue Escalation
Product Evolve translated customer requirements into a prioritised backlog, ensuring that the development team focused on high-value features. They also proactively escalated impending issues to stakeholders, driving timely resolutions.
Marketing Campaign Execution
Product Evolve executed marketing campaigns for new lending products and credit cards using Salesforce Marketing Cloud, effectively reaching and engaging HSBC’s target audience.
OKR Definition and Roadmap Development
Product Evolve collaborated with stakeholders to define Objectives and Key Results (OKRs), ensuring alignment with business goals. They also developed ROI-driven roadmaps and authored acceptance criteria to guide the development process.
Team Leadership
Product Evolve provided leadership to a team of 14 developers and quality analysts, fostering collaboration, ensuring efficient workflow, and driving excellence in product delivery.
Results
The collaboration between HSBC and Product Evolve yielded remarkable outcomes:
Enhanced Customer Experience
The launch of the payment tracker, account renaming feature, and new lending products enhanced the overall customer experience, providing greater transparency, personalization, and access to innovative financial solutions.
Operational Efficiency and Issue Resolution
Product Evolve’s proactive issue escalation and resolution approach led to efficient problem-solving and minimised disruptions in the development process, ensuring timely delivery of high-quality products.
Successful Marketing Campaigns
The execution of marketing campaigns using Salesforce Marketing Cloud resulted in effective customer engagement, increased awareness of new lending products, and improved conversion rates.
Stakeholder Alignment and Goal Achievement
Through the definition of OKRs and the development of ROI-driven roadmaps, Product Evolve ensured stakeholder alignment, enabling HSBC to achieve its business objectives and drive strategic growth.
Conclusion
The collaboration between HSBC and Product Evolve exemplifies the power of digital innovation and effective product management in driving transformative outcomes. Through their expertise, Product Evolve successfully launched the payment tracker, account renaming feature, and new lending products, enhancing the customer experience, improving operational efficiency, and enabling HSBC to stay ahead in the competitive banking industry.