SoftBank developed Pepper to replace human-to-human interactions where the same information is shared repeatedly. Pepper communicates by speaking, either directing customers to a human banker or answering simple questions with options shown on a screen. The robot doesn’t currently ask for personal information, though HSBC may develop that feature to allow customers to apply for products like credit cards right from the robot’s screen.
Beginning today, HSBC becomes the first financial institution in the United States to bring SoftBank Robotics’ humanoid robot, Pepper, to retail banking. When HSBC opens its doors today at its iconic Fifth Avenue branch in New York, customers will be greeted for the first time by Pepper, who will be standing ready to answer questions and provide a memorable banking experience. Pepper is part of a larger vision being rolled out in the coming months that will transform HSBC’s branch banking experience.
At HSBC, the robot will provide details about credit-card offerings, direct customers to ATMs or summon human bankers to answer more complex questions. It can answer questions about the weather, give directions to the nearest pizza shop, and even crack jokes.
“What do you call a fish without eyes? An F-S-H. Get it, no I’s.”
Bank executives hope it will reduce wait times and improve customer experience.
„We are offering the approximately two million people who live or work within a half mile radius of our flagship branch, and the millions more who walk Fifth Avenue daily, an experience in retail banking like never before,” said Pablo Sanchez, Regional Head of Retail Banking and Wealth Management (RBWM) for HSBC in the U.S. and Canada. „We’re focused on developing the ‘branch of the future,’ and our use of Pepper will streamline branch operations and delight our customers, allowing bank staff to have deeper, more high-value customer engagements. Pepper will help educate consumers on basic product information and the availability of self-service banking options, as well as asking some initial questions to determine how we can best meet their banking needs.”
HSBC recently spent $131 million on a successful Retail Transformation Program in the U.S., providing a host of consumer-facing upgrades taking the franchise in an exciting new direction. The bank was also recently named a finalist for The Most Innovative Bank by LendIt Fintech USA and was named the World’s Best Bank at the 2017 Euromoney Awards.
„By creating a revolutionary new type of digitally enhanced retail banking experience, one that uses data intelligence and leading-edge robotics, HSBC will transform the everyday task of a branch visit into the extraordinary. This is why HSBC Bank is embracing robotics technology that will advance their retail offering on Fifth Avenue as quickly as smartphones have advanced the mobile banking customer experience.”, according to the press release.
„With Pepper at HSBC Bank’s flagship retail branch, we’re marking several noteworthy firsts: Pepper’s first deployment at a retail bank in the United States, Pepper’s first opportunity to help customers in New York City, and the first time a robot will be engaging in conversational interactions with banking customers,” said Steve Carlin, Chief Strategy Officer, SBRA. „Humanoid robots helping people and working alongside human coworkers is an idea no longer relegated to the realm of popular culture and science fiction. Pepper will bring real benefits to HSBC banking customers.”
„Customer behavior is changing in retail banking in the U.S.,” said Jeremy Balkin, Head of Innovation for HSBC Bank. „By partnering with SoftBank Robotics, our customers will benefit from interacting with Pepper, a world-leading technology, to enhance and deepen their overall branch experience. We believe retail banking customers should also enjoy cutting edge best-in-class innovative customer experiences that are synonymous with shopping on Fifth Avenue in New York City.”
To overcome traditional perceptions of retail bank branches, Pepper’s standard capabilities were customized to create a retail banking experience that will exceed expectations of U.S. consumers. HSBC will use Pepper in the branch to enrich the value and depth of customer engagements, and the overall branch experience, by offering customers information on products, services, and banking tools in a „self-service” atmosphere.
Key features will include:
Notify a banker – Pepper will communicate directly with bank staff based on customers’ answers to qualifying questions. HSBC’s goal is to reduce customer waiting time and free up the valuable time of their skilled bankers to deliver a more personalized service.
Tutorials and instructions – As HSBC Bank rolls out bank branches of the future, customers need to be kept up-to-date on the latest banking technologies, products and services. Pepper provides information on ATMs, the HSBC Mobile Banking app, self-service options, customer support and more. By educating and encouraging the use of technical tools and platforms available to HSBC customers, bank staff will have deeper, more meaningful customer engagements.
Products and services – Pepper will be used to drive attention to and awareness of HSBC products and services, including special promotions, so that customers can be better informed, facilitating more productive interactions with HSBC Relationship Managers.
#PoseWithPepper – Pepper is all about making the retail banking experience fun and enjoyable for customers. HSBC will be launching a campaign to visit the 452 Fifth Avenue flagship branch and #PoseWithPepper for a selfie. Customers and visitors are encouraged to upload their photos to their favorite social media channels using the hashtags #HSBCat452, #MeetPepper and #PoseWithPepper.
No longer just a proof of concept, Pepper is here to improve the customer experience for North American businesses. Pepper also supports staff by answering commonly asked questions that take time away from assisting other customer needs. Pepper is designed to provide a unique, interactive experience in business environments such as financial services, retail, hospitality, travel, and healthcare. Pepper offers new ways for businesses to engage and communicate with customers and clients through conversation.
SoftBank Robotics is rolling out Pepper in North America, Asia and Europe with a business first approach.
„Whoever said the retail banking experience needs to be boring, was wrong!” said Balkin.
This isn’t the first time Pepper has been deployed in a bank branch. Canada’s ATB Financial introduced Pepper last year. And at least one lender in Japan also uses it. The robot was first rolled out in 2014 and quickly took hold across retail and food service outlets like Pizza Hut in Singapore and on cruise ships. There are now about 15,000 such robots in use around the world, with the majority in Japan, SoftBank’s home market, according to more-bank.com.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
