HSBC Australia’s Stuart Davis Likes His Credit Cards
HSBC Australia chief executive Stuart Davis said HSBC likes his credit cards. A year ago the bank introduced a credit card system developed by the group’s US finance company subsidiary Household International (now called HSBC Finance Corporation).
Davis said it had made a big difference to the business. “It has given us a lot more functionality and greater efficiency. Our cost of issuing and account administration has gone down and we have been able to price our products more keenly.
One look at the Household - HSBC Watch poll, which currently shows an 80 percent disapproval rating for U.S. based HSBC credit cards, indicates Davis has something to prove. Either Australia will become disenchanted, or U.S. card servicing has plenty of room to improve.
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