HSBC Bank plc launches a managed payments application, tailored for financial institutions and corporate clients looking to outsource key elements of transactional activity, connectivity and data integration.
The HSBC managed payments application combines enhanced SWIFT connectivity through a SWIFT accredited service bureau with HSBC global transaction processing capabilities. It is fully integrated with HSBC systems to enable seamless presentation of all transaction types through a single SWIFTNet pipe. This creates a payments superhighway, which provides the integration of data and controls the electronic connectivity between the clients back office and HSBC payments processing. In addition, the use of SWIFTNet FIN and FileAct as core communication channels allows access to a broader range of transaction types and can support a multi-banking approach.
This intelligent package uses a modular approach to support a range of payment types including; ACH payments, wire payments, both domestic and cross-border, direct debit initiation, SEPA-compliant payments, UK Faster Payments, cheque and draft issuance. It also provides automated clearing data processing, receivables information processing and integration, AML filtering, automated reconciliations and even incorporates a leading treasury management system.
“HSBCs SWIFT solution has enabled Standard Bank Offshore Group, in its payment activities, to function as a large global bank whilst focusing on service delivery to its clients in its chosen areas of expertise,” says Jonathan Reynolds, director, operations at SBOG.
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