HSBCnet Project: Online Banking Marketing Assignment

HSBCNET ONLINE BANKING
Name
Tutor
Course
Institution
City
Date
HSBCNET Online Banking
Abstract
This project was carried to identify the problem with HSBCNET Online Banking. I personally conducted this analysis. The major findings were that there are untimely outages on both desktop and mobile platforms at the same time, certain payments made past 5 pm may be rejected forcing the users to re-issue the requests again and mobile app crashes on android platform. The provided recommendations are aimed at solving these issues to ensure that the company achieves its objectives.
Tutor Report
Background
It is hard for the current generation to imagine that once a time people used to conduct all of their banking services at actual financial institutions. If individuals wanted any service of the financial institutions, they had to take a trip to the physical offices of these providers. Even the simplest tasks of all of checking an account balance required that one had to make a trip to the bank. However, due to technological advancements, these frequent trips to the banks have been limited. In the modern era, people can check their account balances, send money, transfer funds to other accounts, request for loans and many more from the comfort of their beds. Based on the above assertions, it is evident that banking has come a long way. Online banking started to evolve in the 1980s with all of its aspects from the definition to the practice itself are different from the current ones.
During its early days, online banking was referred to as the use of terminal, keyboard or computer monitors in accessing the bank account through the landline telephones (Chou & Chou, 2000). Today, online banking is referred to as any electronic system which allows individuals to access and conduct a variety of financial transactions through the institution’s internet-enabled applications.
HSBCnet Online Banking
This is an online banking channel which allows customers to access a wide range of financial services. However, the services that customer are able to access depends on the package or level of access they have subscribed to. HSBCnet has three levels of access which are commonly referred to as packages. However, the Australian customers are provided with only two of these packages as explained below:
* Comprehensive and International access. Customers who have subscribed to this package are provided with a comprehensive access to HSBCnet services as well as access to both international and domestic accounts. This is the first Package which provides but not limited to the following services; View any information in relation to import and export accounts as well as trade authorisations, submit import applications and submit export requests.
* Basic and domestic access. This package allows the customers to access any accounts they hold with HSBC. However, some accounts are available for viewing only hence no transactions can be conducted.
Issues with HSBCnet Online Banking
Besides making life easy for the customers who have an active lifestyle, HSBCnet Online Banking faces a variety of problems which inconveniences its users. HSBCnet is known for having outages from time to time where the users ar...