HSBC rolls out trade finance service

Monday 10 October 2022 13:59 CET | News

HSBC has rolled out its trade finance service, HSBC Trade Solutions (HTS), to customers in the UK and Hong Kong. 


Developed in partnership with CGI, the new platform allows clients to originate and manage all their trade finance products online. HTS functions on an API-native, modular design and flexible tech-stack that will form the backbone of HSBC’s trade offering – supporting USD 800 billion of global trade per year, as the company explained.

Vinay Mendonca, Global Head of Trade Finance Products and Propositions at HSBC has stated that HSBC Trade Solutions has been co-created working closely with HSBC clients. 88% of the bank’s trade transactions are now initiated digitally across a range of channels, the HSBC spokesperson declared.


HSBC has rolled out its trade finance service, HSBC Trade Solutions (HTS), to customers in the UK and Hong Kong.


HSBC Trade Solutions benefits and features

HTS is meant to improve the client experience through self-service digital interfaces developed using ethnography. Clients will also benefit through a higher degree of automation and straight-through processing. Using the new platform also strengthens risk management and monitoring through fully integrated Anti-Money Laundering (AML), sanctions, fraud, and credit risk controls.

The converged data architecture of HTS will enable digital decisioning and deeper customer insights, according to Fintech Finance. The platform benefits from an automated distribution engine, which is meant to help scale distribution as trade finance assets gain terrain as an investable asset class.

With the core platform built and deployed in UK and Hong Kong, HTS is now being introduced to additional markets across the HSBC network.

Embedded Payments, ERP and VRP – other recent HSBC ventures

In September 2022, HSBC and Oracle NetSuite unveiled a solution that embeds banking services into a cloud enterprise resource planning (ERP) system. NetSuite AP Automation makes it easier to process invoices and pay vendors, all from within NetSuite. As a result, customers can better control outgoing cash flows and scale end-to-end account payable (AP) processes. 

The launch of automated payment services with NetSuite makes payment processing more accurate. From within NetSuite, customers can determine precisely when and how to pay suppliers, ensure control over outgoing cash flow, and take advantage of early payment discounts.

A month earlier, in August 2022, HSBC announced that sweeping Variable Recurring Payments (VRP) are available to all Open Banking participants for the HSBC Personal and HSBC Business. HSBC is one of the first banks to complete the managed rollout process overseen by the Open Banking implementation Entity (OBIE).

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Keywords: product launch, trade finance, ERP, B2B payments
Categories: Banking & Fintech
Companies: HSBC
Countries: Hong Kong, United Kingdom
This article is part of category

Banking & Fintech


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