Partnership Gateway Enablers, Universal Services Advisors… HSBC predicts future banking jobs

Maria Nikolova

As technology reshapes the financial services industry, HSBC says human intelligence, instead of artificial intelligence, will be the key to master the future jobs in banking.

Many banks have turned to new technology as means to enhance their services and cut costs often by replacing human staff. Nordea Bank, for instance, unveiled a significant push into artificial intelligence (AI) in October last year, but it also said its business evolution will be accompanied by human staff reduction.In September last year, Mitsubishi UFJ Financial Group Inc (TYO:8306) said 9,500 jobs will be automated in Japan. These jobs account for about 30% of the overall headcount nationwide at MUFG Bank.

The general impression is that technology adoption goes hand in hand with layoffs and negative consequences for the human labour market.

A gulp of fresh air was provided today by a report commissioned by HSBC – the study takes a look at the future jobs in the retail banking sector. The report, entitled “Human Advantage: The Power of People” predicts six new banking jobs that are set to appear as a result of the influx of new technologies into the banking world.

  • Mixed Reality Experience Designer – this profession will require designing complex three-dimensional interfaces and making them slick and intuitive. These designers will have to be skilled in aesthetic design, branding, user experience and 3D mechanics.
  • Algorithm Mechanic – These experts will have to constantly tune algorithms to optimise banking customer experience, and avoid ‘computer says no’ moments. This role will require skills in risk management, service design, and financial literacy, rather than technological proficiency.
  • Conversational Interface Designer – these professionals will help us take best advantage of voice and text chatbots. They will have to be able to build natural, low-friction interfaces that go beyond solving immediate challenges to surprise and delight customers requires a mixture of creative, linguistic, and anthropological skills.
  • Universal Service Advisor – This profession will be exercised by service agents, empowered to support customers across a variety of products. They will be able to switch seamlessly between virtual and physical environments from anywhere anytime to meet customer needs. The tomorrow’s customer advisor are a combination of product and domain knowledge with excellent customer communication and empathy. This will require a level of comfort with the key communications technologies, including performing in a virtual environment.
  • Digital Process Engineer – Such a professional will analyse, assemble and optimise workflows, adjusting them constantly to maximise throughput and minimise friction. These professionals will need great discovery skills, to understand large and interconnected workflows and diagnose problems and bottlenecks, and creative skills to help them to prototype and test solutions.
  • Partnership Gateway Enabler – These professionals will balance technical knowledge of the digital interfaces with an understanding of security and risk management. Communications skills for partner engagement will also be highly valued.

The report stresses the importance of human intelligence and skills such as curiosity, creativity and communication for succeeding in the future.

“Many of the roles and job titles of tomorrow are unknown to us today,” said Josh Bottomley, Global Head of Digital, Retail Banking & Wealth Management, HSBC “One thing is certain, however – artificial intelligence will not replace human intelligence. Blending the best technology with the power of people will be the difference between good and great when it comes to customer experience.”

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