HSBC is to use an SAP platform to streamline and automate the
delivery of
banking services to corporate banking clients.
SAP Netweaver will help HSBC standardise and ease integration
with clients, as part of its wider strategy to promote transaction
banking.
The platform will let corporate clients link into HSBC's
worldwide banking network via a single entry point, simplifying
communications for services such as account payables, account
receivables and reconciliations.
HSBC customers will gain easier access to their banking
information.
The solution will also provide better support for compliance
initiatives, seamlessly integrate financial supply chains and drive
efficient working capital management.
Marcus Treacher, HSBC head of electronic banking and e-commerce
for global transaction banking, said, "SAP is a leading enterprise
resource planning [ERP] solution provider, and with many of our
clients worldwide already running on SAP, it was the natural choice
for our business needs.
"By combining HSBC's banking services with enterprise resource
planning automation in new, highly integrated ways, customers can
look forward to a faster, richer and seamless banking experience
with us, worldwide."
SAP Netweaver communicates transactions using the ISO 20022 XML
format, providing a standard interface between corporate clients'
ERP systems and the bank's back-office.
As well as handling tasks such as extraction, workflow,
reconciliation and simultaneous connections from different
customers at the corporate site, SAP provides a shared operational
process and unifies multiple service gateways between the corporate
client and the bank.
This creates a more robust and real-time workflow, with faster
on-boarding and better control over liquidity for corporate
clients. HSBC will also gain better support for compliance
initiatives automated transaction tracking provides a traceable
audit trail.
A recent report from Misys said most banks were moving towards
transaction banking, but had encountered technology obstacles.
ABN Amro offers Sepa processing >>