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HSBC Clinches Top Honors for Wealth Management at the 6th Private Capital Awards in a Row
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fter successfully winning the title of Best Wealth Manager in Indonesia at the 2023 Asset Triple A Private Capital Awards, one of Asia’s leading financial publications, HSBC has managed to maintain their lead in the financial services industry for 6 consecutive years with them securing their first award in 2018.
Commenting on this achievement, HSBC Indonesia’s Wealth and Personal Banking Director, Lanny Hendra, stated.
"We are honoured to win The Best Wealth Manager in Indonesia award by The Asset Triple A for the sixth consecutive times. This award is a testament of our commitment to consistently enhance our customers experience and continue to deliver the best wealth solutions catered to specific needs of our customers.
Despite the evolving landscape of the wealth management industry, with almost every bank in Indonesia offering services in this specific segment, HSBC Indonesia plans to adapt and grow their business to face the growing competition. To realize this goal HSBC Indonesia is closely monitoring market insights alongside recent trends in consumer behaviour to quickly improve the quality of experience offered to their affluent Indonesian clients.
“Our strategy for developing our wealth management capabilities and services has proven to be successful in Indonesia, thankfully earning us the title of "The Best Wealth Manager in Indonesia" for six consecutive years according to The Asset Triple A.” Lanny added.
It is also worth noting that they have also won 2 other prestigious awards, being The Best International Bank for second time in a row from Asiamoney and Excellence in Digital Wealth Management from the Digital Banker.
Moreover, HSBC Indonesia’s managed funds saw positive growth in first half 2023, with a considerable 13% increase in their client’s investment assets compared to end of previous year. Taking this into account, HSBC Indonesia plans to continually hone in on their financial planning services by providing a tailored experience specific to each client’s risk profile and financial needs, customizing their service based on factors such as age and life circumstances.
Lanny further elaborated their growth plans with “We have also noticed that there is an increase in financial literacy amongst the younger generation. It is imperative for us to seize this opportunity and educate the next generation of our Premier clients about the importance of well-directed and comprehensive wealth management as soon as possible.”
Currently, HSBC Indonesia is committed to focusing on three core pillars of their services: wealth management, international education and comprehensive lifestyle offerings that are available both domestically and internationally.
For their wealth management services, HSBC Indonesia offer various capabilities like financial planning, a comprehensive client wealth dashboard for viewing investment portfolios, regular wealth insights providing the latest information regarding market outlooks, and access to HSBC Indonesia’s roster of investment specialists.
As for their lifestyle services, HSBC Indonesia have recently partnered with airline partner, ANA, to host travel fairs with exclusive services like pre-sale ticket bookings at selected HSBC Indonesia branches in Jakarta and Surabaya. Moreover, in the first half of 2023, HSBC Indonesia have also begun developing facilities that need lifestyle needs, launching several new features like airport transfer services in four major cities in Indonesia, namely Jakarta, Surabaya, Medan, and Bali.
Another aspect that sets HSBC Indonesia apart from their competitors, is their focus on capacity building for their relationship managers, a key factor to their success in attaining the Best Wealth Manager Award for 6 consecutive years. HSBC Indonesia recognizes that to provide the best service for their clients, they would need to offer a harmonious combination of advisory skills from proficient relationship managers, a robust digital platform, and a comprehensive yet targeted range of products and services.
“We understand that customer segments have varying preferences for digital or in-person interactions. Because of this, our model is a hybrid one, combining advice from our reliable relationship managers with the latest digital channels and technology. It is essential to understand that at HSBC, we prioritize customer needs. We understand that customer needs vary and can change over time due to reasons such as the transitioning of life stages or family situations. Therefore, financial planning and solutions also need to adapt to each customer's circumstances, goals, and risk profiles, making the advisory services from our relationship managers become a significant factor.” Lanny added.
However, HSBC Indonesia is also committed to integrate seamless digital journey and experiences for their customers. Just this year for instance, the company has launched their latest HSBC Indonesia Mobile Banking app which is a considerable upgrade from their previous mobile app. Featuring a new and improved user experiences alongside biometric access for enhanced security, these additions were implemented to meet the needs of their clients, which includes Global Transfer – to transfer money to your HSBC account globally in real time, BI Fast, mutual funds and retail bond e-IPO bookings.
This combination of innovation, strategy, and focus, is what HSBC Indonesia believes helped them achieve the prestigious accomplishment of winning the Best Wealth Manager award for 6 years in a row.
