Consumer habits have changed, says fixed rate bonds provider HSBC

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Consumer habits have changed, says fixed rate bonds provider HSBC

Wed 11th Aug 2010

HSBC has pointed out that the banking industry must change to fit in with new consumer habits, which is why it is extending the opening hours at many of its branches.

Peter Keenan, head of network at the firm, claimed that the organisation must realise that it is competing for a share of people's leisure time and that is why it is important for outlets to be open for longer.

These remarks were made after the firm revealed that 80 of its branches will have longer opening hours during the week, while an extra 170 outlets will be open on Saturdays.

He said: "Customers value convenience and easy access and this announcement gives them exactly that."

Mr Keenan suggested that banking used to be done during individual's lunch hours - usually alongside doing the shopping - but this situation has changed and financial organisations such as HSBC must be available during a person's free time, when they have finished work for the day.

This month, the same firm announced the launch of a five-year fixed-rate mortgage with the lowest interest rate ever offered by the institution.

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