HSBC selects Equifax to enhance customer relations

Equifax has been appointed by HSBC to enhance customer relationships and boost retention and growth using the consumer risk expert's Single Customer View (SCV) and RN4 solutions.

The tool draws on Equifax's comprehensive data asset to analyse, cleanse and complete customer records, assigning each account to a verifiably unique individual.

This is a requirement of the Financial Services Compensation Scheme to which HSBC and all deposit takers in the UK must adhere by 31 December 2010, but it will also play a crucial role in account management strategies at every point in the customer lifecycle.

Through Equifax SCV, HSBC will gain an overview of its customers across different accounts and services, building its insight into individual customer's circumstances, which, according to John Oldham of HSBC, is central to the group's growth objectives.

He said: 'The output of the SCV system will help us ensure effective and appropriate management of our customers' relationships with each and every HSBC brand, enhancing their experience while also assisting us in maintaining our status as a respected and responsible lender.

'Combined with the suite of RN4 scores and attributes, SCV gives us the most insightful method of managing our entire customer base,' he added.

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