How HSBC uses AI

Google Cloud reports that HSBC needed compliant, multimarket and multilingual marketing, and that working with Capgemini it extended its existing copy generation tool, ComAmplifier, with a coordinated set of agents that collaborate in a single workflow to produce targeted content and messaging, including insight, copy, imagery and approvals. The entry gives no metric and does not say how the compliance step works.

HSBC has deployed a generative AI assistant to its Corporate and Institutional Banking servicing teams that supports 3 million client interactions a year, which HSBC says reduces turnaround times and improves the client experience. The same sentence says 88% of clients rate HSBC easy to deal with, a bank wide score that the page does not attribute to the assistant, so it is not recorded as a metric.

HSBC Private Bank launched Wealth Intelligence, a generative AI powered ecosystem built by its own in house developers and powered by OpenAI's large language model, for its client facing staff: investment counsellors and product specialists. It gives them fast, simple access to the full range of reports published by the bank's Chief Investment Office, so they can bring quality market insights and personalized investment strategies into client conversations. HSBC says the next stage will let Wealth Intelligence screen and identify suitable products for the bank's wealth management teams to discuss investment options and asset allocation with clients. It launched first in Hong Kong and Singapore, with HSBC planning to scale it to more markets.

HSBC replaced rule based transaction monitoring with Dynamic Risk Assessment in its key markets, a machine learning system co developed with Google Cloud that scores customers for money laundering risk from their full transaction and customer data, and routes the highest risk to investigators. HSBC piloted it in 2021 and says it checks about 980 million transactions a month for signs of financial crime. HSBC reports finding two to four times more financial crime with much greater accuracy, and cutting the processing time to analyse billions of transactions from several weeks to a few days.

Silent Eight has supplied HSBC with automation for name screening and adverse media alerts, and in February 2024 the two expanded the partnership to automated alert closure for transaction screening, which investigates and resolves payment screening alerts in real time. No outcome figures are disclosed.

HSBC Hong Kong built a Budget feature into the HSBC HK app using AI and analytics on more than 500 million transactions its retail customers carried out in 2021, worth about HK$3 trillion. The feature shows customers how they spend and gives insights tailored to their circumstances and goals across cash flow, budgeting, expenses, investment and protection, so customers can apply money management techniques even if they usually struggle with budgeting.