HSBC Advance re-launches with new proposition for ‘emerging affluent’
Monday, 15 September 2014 00:02
HSBC has announced the re-launch of HSBC Advance targeted at ‘emerging affluent’ customers with a new proposition that is built around their needs to help them fulfil their hopes and dreams, and realise their ambitions.
The ‘Emerging affluent’ segment is a growing demographic estimated at around 56 million across the world. They are often the first in their family to have additional wealth, are ambitious and want to make informed financial decisions on how to manage their wealth and achieve their life goals.
Having spent time getting to know these customers better, the bank revealed that while they aspire to be more ambitious, and find themselves financially adequate for everyday living, but not for the rest of their lives. They are seeking a bank that builds a long-term equitable relationship with them, recognises their loyalty, and is able to support them throughout their wealth journey.
The enhanced Advance proposition is built around the needs of the ‘emerging affluent’, anchored on four pillars: 1. Faster access, more control; 2. Online and on your side; 3. Individual expertise and support and 4. Preferential rates and rewards.
HSBC Advance is designed to complement HSBC Premier by offering the emerging affluent customers who possess the potential to be tomorrows wealthy, the service and products they need, in a way that fits with their lifestyle.
In line with the re-launch, Advance customers will be offered the following new benefits among several others soon to be introduced to further support their ambitions: Enhanced daily withdrawal limit up to Rs. 125,000; daily purchase limit up to Rs. 250,000; Rs. 1 million personal accident cover from Allianz Insurance; 45% off on vehicle insurance from Allianz Insurance and 50% off on fire insurance from Allianz Insurance.
HSBC Sri Lanka Head of Retail Banking and Wealth Management Nilantha Bastian said: “We are pleased to re-launch HSBC Advance with a new marketing campaign that defines ‘Together We Advance, the idea being that HSBC can be one of a supporting cast helping each customer reach their goals and ambitions. We understand that these customers who have the potential to be tomorrows wealthy, have varying needs and it is important for HSBC, as their trusted financial partner, to help them build and maintain this new found prosperity.”
Since the launch of HSBC Advance in 2010, the bank’s retail banking business has undergone fundamental changes in the way business is conducted by putting the needs of customers at the centre of everything else. The bank hopes to further grow the business with customers they know and trust by helping these customers fulfil their hopes and dreams, and realise their ambitions, in a way that’s true to HSBC’s values and purpose.