HSBC launches Digital Accounts Receivable tool built on Identitiis tech

Tuesday 18 June 2019 10:49 CET | News

HSBC has announced the launch of its Digital Accounts Receivable Tool (HSBC DART) using Identitii’s tokenisation technology, to its corporate clients in India.

Identitii is an Australian fintech enabling the secure overlay of transaction level detail on top of financial messages using a private blockchain. HSBC DART’s tokenisation technology was developed by Identitii for the Global Liquidity and Cash Management (GLCM) business of global tier one banking group, HSBC, under phase one of the Company’s existing 2017 Global Framework Agreement.

The bank also plans to launch HSBC DART in new markets in Asia to support its corporate clients. HSBC DART uses the fintech’s approach to tokenisation and integrates with HSBC’s existing receivables technology infrastructure. It uses a unique information layer to communicate information associated with an invoice or payment.

This streamlines the client experience and automates the accounts receivable process for HSBC’s corporate clients and their network of buyers, by reducing their dependence on manual processes.

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Keywords: HSBC, tokenisation, Digital Accounts Receivable, India, B2B, partnership, security, invoicing
Countries: World