Compelo - latest news, features and insight on influencers and innovators within business is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Samsung wearable tech will make HSBC’s flagship New York branch a ‘bank of the future’

HSBC will use new Samsung wearable tech at its flagship New York branch to increase employee efficiency and enhance the customer experience by making in-branch communication between team members more seamless and hassle-free

Employees at global bank HSBC’s flagship branch in New York will be using Samsung wearable tech following a new partnership with the tech giant, it was announced today.

The Samsung Gear S3 smartwatches are intended to enhance both staff efficiency and the customer experience as the bank builds what it has labelled the “branch of the future”.

It hopes these devices will achieve this by making in-branch communication between team members more seamless and hassle-free.

Pablo Sanchez, regional head of retail banking and wealth management for HSBC in the US and Canada, said: “Everything we do is centred on the customer and making it as easy as possible to bank with HSBC when, where and how they choose.

samsung wearable tech
Pablo Sanchez, regional head of retail banking and wealth management for HSBC in the US and Canada (Credit: Business Wire)

Jeremy Balkin, US head of innovation, retail banking and wealth management for the bank, added: “Our biggest asset are our people, and we believe the most innovative technology can help them free up time and be more efficient in how they communicate, which is a big win for our customers.

“We’re always exploring cutting-edge innovations to help serve our customers in a more experiential way and this trial is another important step on that journey.”

How the Samsung wearable tech works

The Gear S3 smartwatches create more smoother communication methods and channels between HSBC employees by allowing them to instantly engage throughout the three floors of its New York branch.

This frees up team members from being tethered to fixed locations like desks and offices, where they would use conventional communication methods.

Samsung’s devices are cloud-based and include several preset text messages such as “your 10am appointment is here”, while they’re also capable of reconfiguration depending on the needs of the user.

They will be HSBC-branded and feature a simple interface designed to boost usability, while their alert systems have been made as discrete as possible.

Samsung wearable tech in HSBC
Samsung Gear S3 smartwatches are now used by HSBC staff at the bank’s flagship New York branch

Initial results from the wearable technology pilot show improved customer waiting times, as well as more efficient communication and responsiveness between team members.

HSBC will also use the insights to better understand monitor peak times and identify better ways of working, so they can continue to make appropriate staffing decisions.

John Curtis, VP for enterprise sales in the US at Samsung, said: “Research published by Celent in May found that 77% of consumers prefer to speak face-to-face with banking associates, indicating how important branch service remains.

“Innovative banks like HSBC recognise the importance of catering to their branch customer needs, and know how data-driven insights can help them further enhance how they deliver to those needs.”