HSBC customers of HFC and Beneficial Finance often seek answers and help that is beyond the capabilties of a local branch. Back in 1994 - well before HSBC bought troubled predatory lender Household International - HFC and Beneficial would refer customers to corporate. Phone numbers were disconnected, or the caller was referred to somebody else. Eventually they were referred right back to the branch office. Nothing has changed in 14 years.
Archive for » February, 2008 «
HSBC is pioneering an offshore legal function to service its UK volume legal queries, in a move that threatens to make corporate counsel the latest back-office commodity to be relocated to Asia. Now not only can customer service calls be answered in India, Malaysia or the Philippines, but legal queries might be off-shored. Security is the main concern of many. The move followed HSBC’s ‘offshoring’ of other back-office functions such as human resources. If the project works in the UK it will certainly follow on the the United States. The current project is training a team of four lawyers in its global service center in Malaysia’s capital, Kuala Lumpur, and has said that it may open up the facility to the bank’s legal functions in other jurisdictions. They are training the team in UK law.
Category: 2007 HSBC
One Comment
The Guardian is reporting that HSBC may exit part of their UK business involving HFC. Similarly HSBC is “optimizing” HFC and Beneficial Finance offices in the United States. About 1,200 jobs are on the line. HSBC put their consumer finance operations up for review and will possibly seek buyers for the branch-based businesses. Here is the latest idea from the UK, and how HSBC Finance earned HSBC another two-million dollar fine:
Category: 2007 HSBC
Leave a Comment
We are not sure how this will reflect on HSBC and their big push for Islamic banking but it is nice to see HSBC is also a correspondent bank for Israel. In France big problems for Societe Generale continue, but HSBC is interested in the bank. Perhaps HSBC will try to buy their way out their problems? On the other hand HSBC likes to buy troubled institutions, as evidenced by their purchase of Household International. Here is HSBC’s latest problem with money laundering:
Category: 2007 HSBC
Leave a Comment
We received this by email today. This is not one of our initiatives - we are just reporting it. Household - HSBC Watch is not affiliated with this new initiative by former HSBC, HFC, or Beneficial Finance employees. Here is the report:
Category: 2007 HSBC
Leave a Comment
