HSBC to launch Banking as a Service solution

Wednesday 20 October 2021 10:28 CET | News

HSBC has announced the launch of a Banking as a Service (BaaS) offering that will help customers to create and provide business banking services through their own platforms.

HSBC and Oracle NetSuite, one of the cloud Enterprise Resource Planning (ERP) systems available, are working together to provide international payments and expense management services embedded into NetSuite’s new SuiteBanking solution.

NetSuite customers will be able to automate accounts payable, accounts receivable, and reconciliation processes, allowing them to pay bills, send invoices, get paid and gain full cash flow visibility, from within a unified system. 

HSBC intends to broaden its BaaS offering with more solutions, including HSBC Global Wallet, the multi-currency digital wallet for making and receiving international payments like a local. HSBC’s Banking as a Service proposition will utilise the bank’s Application Programming Interfaces (APIs) to embed its solutions in clients’ own platforms. HSBC launched its API Developer Portal in June 2021.

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Keywords: product launch, partnership, HSBC, BaaS
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech