Summary

HSBC needed to implement Open Banking regulations, but knew that the technology offered new possibilities for the bank to win. A hackathon was shared to its global employee network: “How can HSBC win in Open Banking?”

Product Development Process

My team Caffeine2Code was 1 of 10 teams registered in Australia, and we set out by first considering the main financial challenges faced by our customers. As the Researcher and Producer of the team, I:

• Segmented HSBC’s customer portfolio to identify a high growth target market of aspirational young high-earners who wanted to accelerate their wealth creation.

• Consolidated target market research from diverse sources, including industry and demographic reporting produced by leading think tanks, to size opportunity and conduct preliminary profitability and risk analysis.

• Shortlisted top 5 opportunities and led prioritisation among wider team using “Pursue, Pivot, Perish” method to converge on winning concept of personal loans for purpose of investment in low to medium risk publicly traded assets.

• Designed and conducted research to validate the idea with potential customers.

• Storyboarded, produced and edited final video submission to be presented to local and global judging team.

Our team’s submission won 1st place in Australia, and 3rd place in the Global competition. The idea was engaged by the COO office to be considered for real-world implementation. The product would have created a new revenue stream for HSBC that multiplied existing personal loan book size by 2.5X.