More NewsHSBC Offers a ‘Plug And Play’ Managed Payments Solution

HSBC Offers a 'Plug And Play' Managed Payments Solution

HSBC has launched a managed payments solution, tailored for financial institutions and corporate clients looking to outsource key elements of transactional activity, connectivity and data integration. The HSBC managed payments solution combines enhanced SWIFT connectivity through a SWIFT accredited service bureau with HSBC global transaction processing capabilities. It is integrated with HSBC systems to enable presentation of all transaction types through a single SWIFTNet pipe. This provides the integration of data and controls the electronic connectivity between the client’s 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 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.

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