AmazonScience/document-haystack

1ESG review2In 2023, we received 45,899 customer and 3client complaints, a decrease of 27% from 42022. Of the overall volumes, 33,777 came 5from HSBC UK and 7,354 from Asia-Pacific. 6The most common complaint related to 7servicing and transactions, with the largest 8volume of complaints globally coming 9from business banking customers, which 10represented 87% of our total complaints.11We attribute the overall decrease in our 12complaint volumes to enhanced training of 13our front-line colleagues to ensure they can 14identify the differences between a complaint, 15query and feedback. We also focused on 16addressing the root causes of the complaint 17trends, as well on improvements to our 18systems, processes and advice to our clients.19We resolved 47,812 complaints globally 20in 2023. The average resolution time for 21complaints was 24 days, which was just above 22our global target of 20 days.23How we listen continued24Global Banking and Markets (‘GBM’)25In 2023, we received 1,552 customer 26complaints in Global Banking, a decrease 27of 27% from 2022. Of the overall complaint 28volumes, 49% came from Europe and 23% 29came from the Middle East, North Africa and 30Türkiye. The most common complaint, at 38% 31of total complaints, related to servicing, which 32was in line with previous years.33In Markets and Securities Services (‘MSS’) 34complaints increased by 21% to 354. 35We attribute some of the increase to 36improvements in our data reporting processes 37globally. The majority of complaints were 38operational in nature and resolved in a timely 39manner. Of the overall MSS complaints, 47% 40came from Europe and 34% from Asia, our 41two largest markets. 421  Globally, a complaint is any expression of dissatisfaction, whether justified or not, relating to the provision of, or failure to provide, a specific product or service or 43s44ervice activity. Within the UK, a complaint is any expression of dissatisfaction – whether justified or not – about our products, services or activities which suggests 45we have caused (or might cause) financial loss, or material distress or material inconvenience.462  Gl47obal Banking also includes Global Payments Solutions (previously known as Global Liquidity and Cash Management) and complaints relating to payment 48operations, which is part of Digital Business Services.493 Contains Global Research complaint volumes.50GBM complaint volumes1512023 202252Total 1,906 2,41953Global Banking 2 1,552 2,12754Global Markets and 55Securities Services 3 354 29256CMB complaint volumes157(000s)582023 202259Total 46 6360UK 33.8 49.261Hong Kong 6.5 8.162Acting on feedback 63In 2023, we focused on improvements to our governance of complaints, creating regular forums in key markets to ensure that analysis of the 64root cause of issues and trends are prioritised to enhance our understanding of pain points for our customers. Since the Covid-19 pandemic, 65there has been increased efforts Group-wide to identify customers who are more exposed to harm or declare as vulnerable. In 2023, we 66focused on identifying these complaint types to ensure that we can offer adjustments and support within our processes. This new process helps 67to improve our understanding and support of clients at risk of financial or non-financial harm to ensure our banking services are accessible to all.68Acting on feedback 69We have continued to invest in our client feedback tool to create a more consistent and streamlined experience for colleagues across GBM 70and our wholesale businesses globally. In 2023, we introduced additional automation to improve the process of logging complaints, and 71simplified our procedures to make it easier for front-line colleagues to record feedback. We have also introduced mandatory training around 72conduct and complaints to ensure our people are acting on the feedback they receive and are consistent in how they evaluate queries 73and complaints. 74Commercial Banking (‘CMB’)75HSBC Holdings plc Annual Report and Accounts 2023 9376Governance