HSBC Bank, one of the world’s largest banking and financial services organization wanted to evaluate its Retail and Wealth Management Channel by measuring service quality and degree of compliance. In order to gauge the customer experience, Channelplay conducted Mystery audits at various locations pan India.
The Mystery audit was segregated into two broad segments:
- Retail: The Retail segment involves evaluating Contact center and Kiosks/ Stalls in specific corporate parks. The mystery shopper was supposed to enquire about Credit Card and Personal Loans in both scenarios.
- Contact Center: Shopper raises a query on third party website basis which he gets a call from sales agent and evaluates the agent’s knowledge about the product offered. Shopper performs different Integrity checks to assess the compliance of the same by the staff.
- Kiosks in Corporate Parks: Mystery shopper, usually an employee is placed of the corporate park where the kiosk is deployed, visits the kiosk and enquires about Cards/ Loans and check for staff knowledge. Shopper performs different integrity checks and any breach of the same is escalated.
- Wealth: The shopper opens a wealth account with HSBC and portrays to invest large amount of money and assesses the end to end process which includes the entire financial planning journey, process adherence by the staff and transparency of product recommendations. The shopper performs different scenarios like Education Planning, Retirement Planning, Managing & Growing Wealth, Protecting Family etc. to assess the process adherence by the relationship manager basis the following parameters:
- Time & Identity Verification
- Goal planning
- Risk profiling
- Financial Planning
- Transparency & Reflection period for follow up
Through this program, the client gained valuable insights at relationship manager level and Third-party vendor level. Basis the same, they took necessary remedial measures by training the staff and extending warnings to employees who breached the integrity scenarios.