Himanish Goel
HSBC
Liberty
Money that speaks your Language
Role = UX Strategist & Researcher and UI/UX Designer
Tools = Figma and Photoshop
Project Type = Independent Study
OVERVIEW
HSBC (Hongkong and Shanghai Banking Corporation) is a leading financial institution with a global reach. It provides a broad range of banking and financial services to a diverse customer base and governments.
The main business areas of HSBC are retail banking, commercial banking, private banking, and wealth management.
BACKGROUND
Studying abroad is exciting, but paying for it can feel like a nightmare.
Studying abroad for students unlocks many opportunities, but can expose them to challenges like high tuition, fees, medical costs and other expenses.
Conversion fees, hidden charges, and unfamiliar banking systems make them feel that money is speaking a language they don’t understand.
Conversion fees, hidden charges, and unfamiliar banking systems make them feel that money is speaking a language they don’t understand.
INSIGHT
What makes studying abroad stressful isn’t just the big costs, it’s the small, hidden ones that stack up. And worse, students often don’t even know what they’re paying for. It’s not just expensive, it’s confusing.
STRATEGY
Position HSBC as the bank that makes spending abroad as simple as spending back home. Makes HSBC makes money feel local again.
STRAT LINE
Money that speaks your language
BUSINESS IMPACT
The D&AD brief for HSBC wanted us to focus on international students so that they can get a foothold in an expanding market. Setting up international students with HSBC Wallet is the first step for HSBC. As international students graduate and join the professional world, HSBC can market additional financial products to them and grow their business and revenue base.
- Instantly send and receive money—across banks, borders, and apps
- Cut out hidden fees and confusing conversions
- Connect their home bank accounts to their lives abroad
- Pay, split, and share money the same way they would back home
GLOBAL CHALLENGE
The Cost of Studying Abroad — A VCU Example:
Annual costs for an international student from India studying at VCU is ₹5.65 million, which equates to $66,242. 40% of the total cost is non-tuition related. And these costs keep going up annually!
Annual costs for an international student from India studying at VCU is ₹5.65 million, which equates to $66,242. 40% of the total cost is non-tuition related. And these costs keep going up annually!
Wherever they go, students face high costs and low clarity.
Spending distribution of an International Student at VCU
A Shared Struggle Around The World:
This isn’t just a VCU story. Across the world, international students face the same struggles:
This isn’t just a VCU story. Across the world, international students face the same struggles:
- 🇬🇧 UK = Tuition up to USD 47K + high London living costs
- 🇨🇦 Canada = Tuition up to USD 37K + living 30 to 50% more
- 🇭🇰 Hong Kong = Tuition USD 34K + costly accommodation
- 🇦🇺 Australia = Tuition up to USD 30K + USD 15K living
Tuition cost for international students in key locations
UPI
Product Outcome - HSBC Liberty
This case study video takes you through the entire app experience of HSBC Liberty, a new way for transferring money in a system that’s designed for international students and their parents.
This story begins with the parent’s account, where money can be sent overseas through the HSBC Liberty feature. The transfer then gets converted smoothly into the student’s local wallet, and from there the student instantly gets a notification.
Next, we walk through the HSBC Wallet, which makes it easy to send or receive money, pay with a QR code, check recent transactions, and access student-friendly tools. Along with providing international students with helpful resources like Social Security or Tax ID guidance, special HSBC Deals for discounts, and helping manage their personal profile in the app.
Showing how HSBC Liberty can help in removing the usual struggles of high fees, hidden charges, delays, and poor exchange rates, making money transfers faster, easier, and more secure for students and parents alike.
This story begins with the parent’s account, where money can be sent overseas through the HSBC Liberty feature. The transfer then gets converted smoothly into the student’s local wallet, and from there the student instantly gets a notification.
Next, we walk through the HSBC Wallet, which makes it easy to send or receive money, pay with a QR code, check recent transactions, and access student-friendly tools. Along with providing international students with helpful resources like Social Security or Tax ID guidance, special HSBC Deals for discounts, and helping manage their personal profile in the app.
Showing how HSBC Liberty can help in removing the usual struggles of high fees, hidden charges, delays, and poor exchange rates, making money transfers faster, easier, and more secure for students and parents alike.
Big Idea- UPI Style Ecosystem
Process & Reflection
PROCESS
The project brief from the D&AD program was used as a basis for this case study. D&AD brief for HSBC focused on providing banking services to international students or new graduates. International students are an expanding market with average spend of $250,000 for undergraduate study in the US. Given the big spending by this student cohort, HSBC wants to be a major player in the market.
My strategy focused on creating two different user surveys for parents and students. This allowed me to gain insight into the financial priorities of parents and students alike. In India, parents typically fund the education of their children given the extreme focus on education and the emotional connection between families.
The project brief from the D&AD program was used as a basis for this case study. D&AD brief for HSBC focused on providing banking services to international students or new graduates. International students are an expanding market with average spend of $250,000 for undergraduate study in the US. Given the big spending by this student cohort, HSBC wants to be a major player in the market.
My strategy focused on creating two different user surveys for parents and students. This allowed me to gain insight into the financial priorities of parents and students alike. In India, parents typically fund the education of their children given the extreme focus on education and the emotional connection between families.
REFLECTION
This was a learning experience in understanding the challenges faced by international students in studying abroad and the high financial burden associated with international studies. I learnt about international finance, the money transfer mechanism and challenges and insecurities faced by international students.
It was a learning experience to design a product that will address pain points of students and parents. Learning about international banking was insightful and gave me a new perspective on banking and its linkages with the technology world.
This was a learning experience in understanding the challenges faced by international students in studying abroad and the high financial burden associated with international studies. I learnt about international finance, the money transfer mechanism and challenges and insecurities faced by international students.
It was a learning experience to design a product that will address pain points of students and parents. Learning about international banking was insightful and gave me a new perspective on banking and its linkages with the technology world.