Experian and HSBC Deal Allows Consistent Decisioning Models to be Used Across Different Countries…

Experian®, the global information services company, announced an enterprise deal with HSBC to help integrate the bank’s access to external data sources around the world.

Starting in Asia, Experian’s Connect+ data integration software will be used by HSBC to enable access, consolidation and aggregation of data from multiple sources, including credit bureaus and other third party data providers. The service is currently supporting HSBC’s Personal Financial Services business in Malaysia with rollout planned for three more countries in Asia. Following a successful rollout in Asia, the software will then be available to support HSBC operations in specific regions around the world.

Data feeds, which can differ widely from country-to-country, are made available in a standard format for consideration within implementations of Experian’s Strategy Management decision software, already in use at HSBC. This allows consistent decisioning models to be used across different countries.

Full article: Experian and HSBC Create Global Data Integration Deal

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The news is out and HSBC Bank ranks worst amongst this year’s Forrester’s Customer Advocacy rankings with only 16 percent of HSBC’s customers agreeing to the statement: “My financial provider does what’s best for me, not just its own bottom line.”

The survey involved an estimated 4,500 consumers and 46 different financial services companies, which includes banks, insurance providers, and investment firms. The bottom seven banks, based on customer responses to the above question, were HSBC with only 16 percent, Citibank with 26 percent, Fifth Third Bank with 27 percent, TD/Commerce with 28 percent, Capital One with 29 percent, Chase with 31 percent, and Bank of America with 33 percent.

According to The New York Times, A spokesperson for HSBC declined to comment because he had not seen the survey.

Only 16% of HSBC Customers Surveyed Feel the Bank does What’s In Their Best Interest

Oh, and for those of you who may be wondering, the top ten rated firms in this year’s Forrester’s Customer Advocacy rankings are:

1. USAA (insurance) – A Fortune 500 company that mainly provides insurance services, but also conducts consumer banking and investment planning product and services.

2. Any credit union

3. Any independent financial advisor

5. USAA (banking) – Yes, two top five positions.

6. AAA – Referred to as Triple-A (formerly known as American Automobile Association) boasts 50 million-plus members in North America and mainly provides vehicle insurance.

7. State Farm – The largest automobile and home insurance company in the United States, and ranked 31st in the 2009 Fortune 500 list of American companies by revenue.

8. Any regional or local bank

9. Aflac – In the United States they’re the largest provider of supplemental insurance, in Japan, the’re the largest life insurer and second largest overall insurance company.

10. GEICO – Also known as the Government Employees Insurance Company, mainly provides auto insurance, offering coverage on more than ten million vehicles, by more than nine million policy holders.

Related Information
Consumer Trust In US Financial Institutions Is Returning
The Least-Trusted Banks in America
Insurance Outshines Banks In Customer Advocacy Survey
How Customers Rate US Banks, Investment Firms, And Insurers
Consumers Rate Top 10 Firms on Customer Advocacy

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