HSBC’s virtual platform for business borrowers goes global
HSBC is rolling out its virtual platform for business lending, LinkScreen, across its operations worldwide. The platform is already available in the UK, US and Mexico, with Canada, France and Hong Kong to follow in the coming months.
HSBC says LinkScreen provides “business customers with all the key elements of a traditional face-to-face meeting from the comfort of their office”.
The solution has been developed together with Vizolution, a customer experience technology provider.
It enables users to share, download, electronically sign and send documents through a shared-screen digital platform. At the same time, customers can have a conversation with their banking representative to review or complete an application.
“LinkScreen is a completely new experience for HSBC business customers,” the bank says. Previously, they “had to rely on traditional paper-based processes, with documents and contracts being sent through the post and having to visit a branch to sign paperwork or verify their credentials”.
With the introduction of LinkScreen, the amount of time it takes for customers to complete trade finance, receivables finance and business loan applications has been drastically reduced, the bank states.
In some instances, it adds, customers can gain access to funds the next business day.
“Use of the technology by customers in the UK has seen average application times halved,” according to HSBC.
Richard Davies, global head of propositions, HSBC Commercial Banking, describes the feedback from the UK customers as “remarkable”, with average customer satisfaction scores of around 90%.
