HSBC’s Banking Robot Pepper Debuts In Miami

HSBC Bank USA, a unit of HSBC Group, announced Thursday (May 30) the launch of Pepper, the humanoid robot it developed with SoftBank Robotics America, in Miami.

In a press release, HSBC said Pepper is being deployed in a retail branch in Miami, marking the first time Pepper has been deployed in a retail bank in Florida. Pepper will educate consumers on basic product information, the availability of self-service banking and determine a customer’s banking needs by asking questions. The idea is to free branch staff to work more deeply with customers who have more complex needs. Its also aimed at reducing customer wait times.

“Miami’s tech scene is experiencing positive growth and we see a lot of opportunity for disruption in the region,” Pablo Sanchez, head of retail banking and wealth management for HSBC in the U.S. and Canada, said in the press release. “Our customers in South Florida will have a chance to experience an entirely new way of banking thanks to Pepper. It’s an exciting next step for us as we continue to expand the number of branches that have these capabilities.”

HSBC rolled out Pepper last year, becoming the first U.S. bank to deploy a robot. Pepper debuted at HSBC’s flagship branch in New York City.

Pepper has continued to be rolled out and is now available in Beverly Hills and Seattle. HSBC said the branches have seen a significant increase in activity, ATM transaction volumes, and new credit card applications as a result. It has also seen an increase in new business with more 25,000 total customer interactions with Pepper.

“The digital banking experience is transforming as quickly as the smartphone revolution took off,” said Jeremy Balkin, head of innovation at HSBC. “Pepper’s rollout is part of our larger vision to transform HSBC’s branch banking experience into the ‘Branch of the Future,’ by providing a host of consumer-facing upgrades that will take the franchise in an exciting new direction. By creating these revolutionary new types of digitally enhanced retail banking experiences that use data intelligence and leading edge robotics, HSBC is transforming the everyday task of a branch visit into a memorable and extraordinary experience.”