(17 October 2022 – Global) HSBC has launched a new portal to give its financial institution (FI) customers real-time visibility on the status of their transactions, tackling what it says is an important pain point for the market.
Using the FI Digital Network, FI customers will be able to interact seamlessly and securely with HSBC to view the status of their Guarantee transactions in real time, receive status updates and download reports. Following a successful pilot, HSBC is enhancing the functionality of the FI Digital Network and expanding the offering beyond Guarantees to cater for the full suite of trade products that FI customers use.
HSBC is also offering this functionality through an API, and now plans to work with its FI customers on other tailored solutions to further increase transaction automation.
“At present, the customer journey for guarantees is fragmented with multiple touchpoints and limited end-to-end visibility,” says, HSBC’s chief growth officer for global trade and receivables finance, Vinay Mendonca. “The FI Digital Network offers an improved and simplified customer experience. Not only does the new portal provide full visibility, with real-time updates, it removes the need for manual interventions.”