HSBC's teen-focused campaign empowers youngsters to reach financial independence

HSBC has launched a new campaign namely “HSBC Teens Proposition” to help teenage customers reach financial independence. It is the first time for HSBC to launch a teen-focused campaign that promotes banking to a dedicated teen segment.

This comes as a recent HSBC FinFit study found that 68% of surveyed parents agreed that kids need financial education even at an early age. While parental guidance is still crucial for teenagers to learn about financial management, the brand acknowledges that there are increasing needs for teens in terms of financial management and independence, and more often realised and initiated by them.

Done in collaboration with creative agency Narrow Door and media agency PHD HK, the campaign targets teenagers aged between 11 and 17, who are in the progress of becoming adult and yearning for more autonomy – in terms of lifestyle and financial. The campaign is available until mid-September this year. 

As teenagers are seen as digital native, socially active, and prefer to stay cool in front of friends, the new campaign has been revamped with various new characteristics, including mobile first banking experience, social payment method, and features such as Budget, which can help teens track automatically how they're spending and linking their accounts to PayMe. The combo of an HSBC account and the banking apps aims to become the modernised and digitalised piggy banks for the new generation.

Furthermore, the brand is offering a free brand-new Samsung Galaxy A14 5G phone to parents who have opened an account for their children and fulfilled specific fund-in requirements, to encourage children to take charge of their own finances. 

Commenting on the initiative, Brian Hui, head of customer propositions and marketing, wealth and personal banking, Hong Kong, HSBC said: “HSBC hopes to empower young customers to take ownership of their finances. Good financial health will increase their freedom to make the right choices and contribute to their resilience for achieving different financial ambitions.”

“Mobile phone has permeated every aspect of our lives, so we have taken a digital-first approach to curating the saving and spending experience for teenage customers through our online channels, including HSBC HK Mobile Banking App and PayMe,” he added.

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