Situation

HSBC is a globally recognised retail bank that spans 14 markets and 120 countries. 

The client wanted to optimise its analytics spending by reducing the costs of off-the-shelf tools and shifting those capabilities in-house.

HSBC wanted to improve its talent acquisition process by adopting a product delivery culture that speaks to its core values. In addition, they wanted to adjust their focus to reusable assets and Intellectual Property, which could be shared across markets.

Previously, the client did not have provisions for AI and ML systems; as such, they wished to develop the infrastructure as a core competency for the bank, to drive costs lower in the long term

Solution

The client would have reached out to Verso Labs to assist in the Talent Acquisition process for hiring new staff and providing relevant coaching for the new hires. 

The client was keen on implementing a cloud-based data platform that would serve as a replacement for several off-the-shelf solutions which were already in rotation. Delivery teams needed to be provided with guidance as they built out the solutions so that they could be the initial persons to realise benefits directly.

Outcomes

With this project, HSBC achieved a 770 million GBP reduction in technology spending for two years while increasing their development team from 0 to 4 people.