20 September 2021

HSBC launches Cash Flow Forecasting Tool and Corporate Treasury APIs

These new digital offerings enable efficient and effective business transaction banking in the Philippines.

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 and 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.

For companies looking for more efficient and secure ways of exchanging information, Corporate Treasury APIs allow customers to communicate with the bank using pre-defined APIs such as balance and transactions, straight-through payment initiation, and payment visibility and traceability.

“Our customers have emphasized the importance of building resilience and future-proofing their businesses. 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 the 2021 Treasury Technology Survey conducted by GT Treasury and Strategic Treasurer, 73% of Corporate Treasury Groups indicated that Application Programming Interfaces are extremely or very important. Meanwhile Forecasting is very important to 84% of Treasury respondents but only 38% indicated that they are performing at a high rate of accuracy. (https://strategictreasurer.com/2021-treasury-technology)

“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.

HSBC Philippines offers a wide range of digital solutions for corporate customers, including digital platforms such as HSBCnet, HSBC Supply Chain Financing and HSBC Evolve. It has also introduced HSBCnet Mobile App and Mobile Authentication which allow users to securely access their corporate bank accounts through their mobile phones. On the retail side, the Bank has expedited digital channel usage for customers and online credit card application.

HSBC in the Philippines
With over 145 years of doing business in the Philippines, HSBC is one of the world’s largest banking and financial services organisations. The Bank currently has an 8-strong total branch network (including 3 branches of the locally incorporated HSBC Savings Bank) located in Metro Manila, Cebu and Davao.