HSBC UNVEILS CASH FLOW FORECASTING, TREASURY TOOL
banking giant HSBC has rolled out new digital offerings to enable businesses to better manage their treasury and finance activities.
HSBC launched its Cash Flow Forecasting Tool and Corporate Treasury APIs (application programming interface).
HSBC Cash Flow Forecasting Tool helps businesses build an accurate picture of their future finances. Accessed through HSBCnet, the bank’s global digital banking platform, the tool automatically loads and consolidates data from the clients’ accounts, including pending invoices, future-dated events
bank account information from other banks. The integrated system then eliminates the need to manually upload bank statements, reducing time to prepare cash flow forecast.
Future-proofing
Corporate Treasury APIs allow customers to communicate with the bank using predefined APIs such as balance and transactions, straightthrough payment initiation, as well as payment visibility and traceability.
“Our customers have emphasized the importance of building resilience and future-proofing their businessIC es. To address these requirements, HSBC has invested in solutions that allow our customers to leverage available technology to support their critical activities and enhance existing processes,” Mimi Concha, HSBC Philippines head of wholesale banking, said in a press statement.
In the 2021 Treasury Technology Survey conducted by GT Treasury and Strategic Treasurer, 73 percent of corporate treasury groups indicated that APIs were extremely or very important. Meanwhile, forecasting is very important to 84 percent of treasury respondents but only 38 percent indicated that they were performing at a high rate of accuracy.
Fast-tracking digitalization
“We predict trends, adapt to new ways of doing things, and most of all, we listen to our customers. COVID has accelerated the pace of adoption of digital solutions and our customers have also embraced the immediate shift to digital banking transactions. At HSBC, we are able to leverage the best-in-class global tools used in the markets where we operate in. This allows us to deliver the very best technology-based solutions in the Philippines,” Concha added.