As a result, Hewitson said, HSBC has recognised a real need to help all of its customers on that journey.
“Particularly with things like current inflation rates and the current interest rates, those customers need to do more and actually try and make their money work harder for them."
He said HSBC had an ambition of growing its engaged young customer base from around 300,000 today to about a million by 2025 through making it part of their banking experience.
“We're building out new journeys for that customer group to access and engage with us and in particular, the opportunity to build on what we call simplified buying journeys in our space which fundamentally means straightforward five clicks from within your banking ecosystems - not separate apps, from within your banking app, five clicks and you are able to move money into funds and buy funds through a set of pre selected portfolios.”
He said this was something the bank designed as a way to engage customers with wealth at reasonably small amounts.
“Our smallest single premium is £100 and smallest regular premium is £50, we're not talking big chunks of money here and that's a real driver for us to [do it] and so those simple journeys we've created have been really, really important.”
sonia.rach@ft.com
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