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HSBC Uses Data to Redefine Travel Loyalty with Travel Guru

by Alice

HSBC has long positioned itself at the forefront of customer-centric banking, harnessing the power of data to understand client behaviors and preferences. This commitment to leveraging analytics has led to the creation of the Travel Guru Membership Programme, available through the HSBC HK Reward+ app.

Data-Driven Travel Recommendations

Launched in September 2023, the Travel Guru programme aims to elevate the travel experience for its members. With more than 260,000 participants, the first-in-market, bank-led loyalty initiative showcases HSBC’s dedication to integrating data-driven insights into its financial services while fostering a vibrant community of travel enthusiasts.

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In an exclusive interview with Hong Kong Business Magazine, Jiahao Teo, Managing Director and Global Head of Data, Analytics, and CRM at HSBC’s Global Private Banking & Wealth and Wealth and Personal Banking, Hong Kong, underscored the pivotal role of data analytics in shaping the Travel Guru programme. “By leveraging predictive analytics, we continuously monitor shifts in customer behavior, identifying emerging trends and rising demands in the travel market,” Teo explained.

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This proactive, data-driven approach enabled HSBC to anticipate customer needs, leading to the development of a solution that goes beyond meeting expectations to delivering an exceptional customer experience.

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Tailored Rewards and Membership Tiers

The Travel Guru programme operates on a tiered membership structure, offering up to 6% in RewardCash rebates on foreign currency spending. Members can progress through three tiers—GO Traveller, GING Traveller, and GURU Traveller—with increased spending unlocking higher membership levels and enhanced rewards.

A standout feature of the programme is its use of advanced data visualization techniques. Members can track their progress in real-time, providing them with an ultra-transparent view of their credit card usage and rewards status. The system captures customer behaviors, such as credit card purchases, airline bookings, and hotel stays, to map out three key stages of travel: pre-trip, during travel, and post-trip.

Gamification and Hyper-Personalization Enhance Engagement

HSBC’s Travel Guru programme incorporates several features designed to foster deeper customer engagement. One of the highlights is its gamified experience, which allows users to interact with the platform, earn rewards, and engage with friends and family. This interactive element boosts participation and builds excitement around the programme.

Teo emphasized the significance of hyper-personalization in guiding members throughout their travel journey. By utilizing predictive analytics, the programme delivers timely reminders and tailored recommendations through push notifications via the HSBC app. “Even while on their trip, we surprise members with personalized rewards such as vouchers and coupons specific to their travel destinations,” Teo said.

Members also enjoy exclusive, year-round discounts and offers on travel-related products and services. The programme includes the “Red Hot Rewards of Your Choice” feature, which allows members to earn up to 8.4% RewardCash on overseas and Mainland China spending. Additionally, HSBC’s EveryMile credit card provides up to 8.5% in RewardCash rebates, while the HSBC Red credit card offers up to 7%.

HSBC has also cultivated a robust partnership ecosystem, granting customers access to a wide array of experiences and rewards across multiple locations, further enhancing their travel experiences.

Driving Loyalty and Strengthening Market Position

The Travel Guru programme has not only incentivized increased spending on HSBC credit cards but has also reinforced the bank’s competitive position in the market. HSBC recently received the Analytics – Financial Services award at the Hong Kong Business Technology Excellence Awards 2024, recognizing the success of its data-driven approach.

Teo commented, “This recognition reflects our strategic commitment to maximizing the potential of data to transform the customer experience. By combining predictive models, AI, and machine learning with a comprehensive suite of customer offers and rewards, we’ve created a banking experience that adds significant value for our clients.”

HSBC’s Travel Guru programme exemplifies how data analytics is revolutionizing customer engagement within the financial services sector. As the bank continues to explore innovative ways to enhance the customer experience, Travel Guru stands as a key pillar in HSBC’s ongoing efforts to redefine the future of banking in Hong Kong.

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