LONDON, Oct. 6, 2022
/CNW/ - HSBC has launched HSBC Trade Solutions (HTS) to customers
in its two largest markets - the UK and Hong Kong. Whilst making trade simpler,
faster, and safer for customers through integrated digital
journeys, HTS will power commerce that is rapidly evolving across
different platforms and ecosystems.
Developed in partnership with CGI (NYSE: GIB) (TSX: GIB.A), the new
platform allows clients to originate and manage all their trade
finance products online. HTS leverages an API-native, modular
design and flexible tech-stack that will form the backbone of
HSBC's market-leading trade offering – supporting USD800bn of global trade per year.
Against a landscape of ongoing transformation through new
technologies, improving supply chain resiliency and ESG
imperatives, HTS will enable the bank to embrace future change
faster and more efficiently.
HTS has redefined client experience through intuitive, self-service
digital interfaces developed using ethnography. Clients will also
benefit through higher degree of automation and straight through
processing. Using the new platform also strengthens risk management
and monitoring through fully integrated Anti-Money Laundering
(AML), sanctions, fraud, and credit risk controls.
"HSBC Trade Solutions has been co-created working closely with
our clients and delivers a major step forward in terms of client
experience", said Vinay Mendonca,
Global Head of Trade Finance Products and Propositions at
HSBC. "Its flexibility will power solutions to fit into our
clients' rapidly evolving ecosystems. Using such digital solutions,
88% of our trade transactions are now initiated digitally across a
range of channels."
"This important solution launch is an exciting time for the
marketplace and continues the strong working relationship between
CGI and HSBC," said David York, Vice
President for Banking and Financial Markets for CGI in the UK. "We
look forward to working closely to drive positive change across a
number of hugely important areas."
The converged data architecture of HTS will power quicker
digital decisioning and deeper customer insights. The platform's
automated distribution engine will help scale distribution as trade
finance assets increasingly become an investable asset class.
With the core platform built and deployed in UK and Hong Kong, HTS is now being introduced to
additional markets across the HSBC network.
About HSBC
HSBC Holdings plc, the parent company of HSBC, is headquartered
in London. HSBC serves customers
worldwide from offices in 63 countries and territories in its
geographical regions: Europe,
Asia, North America, Latin
America, and Middle East
and North Africa. With assets of
US$2,985bn at 30 June 2022, HSBC is one of the world's largest
banking and financial services organisations.
About CGI
Founded in 1976, CGI is among the largest independent IT and
business consulting services firms in the world. With 88,500
consultants and professionals across the globe, CGI delivers an
end-to-end portfolio of capabilities, from strategic IT and
business consulting to systems integration, managed IT and business
process services and intellectual property solutions. CGI works
with clients through a local relationship model complemented by a
global delivery network that helps clients digitally transform
their organizations and accelerate results. CGI Fiscal 2021
reported revenue is C$12.13 billion
and CGI shares are listed on the TSX (GIB.A) and the NYSE
(GIB). Learn more at cgi.com.
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SOURCE CGI Inc.