Household HSBC Watch

According to Business Wire, Capgemini announced today a renewal of their relationship with HSBC for continued collaboration with HSBC’s Global Technology Centers. According to a self-serving press release Capgemini and HSBC are both the greatest, most wonderful organizations. What is wrong with the report? Capgemini supports HSBC key strategic businesses, including Consumer Lending, Credit Cards, Group Consumer Finance, and Insurance. This sounds like HSBC Finance, Household International, and areas where HSBC is seriously lacking in satisfaction. In fact those are the areas mentioned in Household’s predatory lending. Capgemini is tasked with driving HSBC’s business initiatives, including improving customers’ experience. They have a long, long way to go before they achieve that goal.

Practice makes perfect. The truth is for the past 17 years, Capgemini has provided deep industry expertise to support HSBC. Therein lies the problem. Clearly Capgemini was with HSBC before and after Household International. It seems as though Capgemini does what HSBC tells them to do. They ignore what HSBC tells them to ignore. How does Capgemini help with HSBC compliance, and how does that reflect on the fact that HSBC’s compliance officer departed before the subprime debacle? Consumer lending and insurance went hand in hand with dissatisfaction, insurance packing, and predatory lending. Even today credit cards go hand in hand with allegations of applying payments as ‘late payments’, and legal precedent from Shea vs Household (HSBC) and three other suits.

HSBC Finance makes Capgemini look bad, like a bunch a bumbling idiots in the arena of Global Technology Centers. That is not to say that Capgemini employees are incapable. They are most likely great, well educated, well trained people. It is the stigma of predatory lending, Household International, and HSBC Finance that makes them look bad. Just look at our complaints blog for hundreds of examples.

Technology? PB in Wisconsin said: “I went on line two days before my bill was due to pay it and was told that I had to pay a $39.00 LATE FEE because they can’t get to all of the on line payments in a timely manner so you have to pay on line at least 5 days before it is due!! At every other bank, utility company, mortgage company, satellite or cable tv network, or credit card company when you make a payment online it is entered at that moment. Capgemini? HSBC is making you look bad!