HSBC Adds Digital Investment Tools to Woo Millennials

HSBC Adds Digital Investment Tools to Woo Millennials

The bank is enhancing its digital investment capabilities with a series of new solutions, including $0 commission stock trading, wealth coach and a revamped fund investment platform.

HSBC has launched three digital solutions, including «Trade25,» «Wealth Coach» and the enhanced «FlexInvest» platform to better cater to millennials, a segment that accounted for nearly 50 percent of the bank’s new customers in Hong Kong in the first half of this year.  

«Our new solutions focus on addressing what matters most to our young customers, ensuring that they have the necessary tools to embark on their wealth journey and thrive financially in the long run,» Brian Hui, HSBC head of customer propositions, international and marketing, wealth and personal banking, Hong Kong, said.

Enhanced Offerings

Designed for traders aged 18 to 25, «Trade25» provides $0 commission and $0 platform fees for trading Hong Kong, U.S. and China A shares, and includes a financial education hub for customers to learn and boost their stock trading knowledge.

The «Wealth Coach» gives young customers personalized advice on investments and personal finance via mobile chat or Zoom, and the «FlexInvest» unit trust investment platform is being upgraded to allow customers to easily identify their preferred funds for building their investment portfolio.

Important Segment

According to the bank, millennials are one of the key pillars of HSBC’s Asian Wealth strategy. In Hong Kong, the number of new to bank millennial customers for the first six months in 2021 jumped by over 30 percent, compared to the same period last year.

It attributed this growth to its «HSBC One» proposition and its «Wealth A0» investment education and empowerment campaign, launched in the second quarter of the year.

2021-10-06 04:52:00