HSBC UK has discovered a positive outcome amidst the challenges posed by the coronavirus pandemic, revealing that the transition to remote wealth and investment advice has resulted in a remarkable reduction of nearly 900,000 sheets of paper used.
The bank initiated video conferencing for remote wealth management on March 20, just days before the UK entered its first lockdown, restricting residents to leave their homes for essential reasons only. In this transition, HSBC has successfully trained 640 advisors and relationship managers in conducting virtual interviews, leading to nearly 11,000 Zoom appointments. This shift not only facilitated client interactions but also contributed to significant environmental benefits, equating to a reduction of eight tons in carbon emissions—comparable to the carbon footprint of a round trip to the South Pole in an average petrol vehicle.
James Hewitson, Head of Wealth at HSBC UK, commented, "The world has transformed rapidly, necessitating swift adaptation for both individuals and businesses. The implementation of video calls in our wealth management services has revolutionized how we connect with our clients, particularly as our branches faced limited access and operational hours."
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