More NewsHSBC Launches Managed Payment Service

HSBC Launches Managed Payment Service

HSBC Global Transaction Banking (GTB) has launched its Managed Payments Service (MPS), which allows customers to outsource key elements of payments activities, connectivity and data integration. Available initially to financial institutions and large corporate customers looking to pursue an in-house bank or payment factory strategy, the solution provides a flexible, multi-bank proposition over the SWIFT network.

As treasurers look to maximise liquidity though solid cash management processes, MPS allows them to manage their cash flow efficiently, improve their security and internal audit controls, and simplify their reconciliation and risk management. The solution provides a variety of connectivity options within a secure environment, which will easily connect with an institution’s own systems. As a managed service, it uses third-party technology and data hosting, ensuring privacy around a customer’s data.

Andrew Long, head of GTB at HSBC said: “Financial institutions are increasingly looking at how managed payments can increase efficiency and improve risk controls. On the other side, very few corporates have the scale to operate their own, in-house bank and in an increasingly competitive market they are looking for reliable solutions to help them better manage cash and increase liquidity. HSBC’s MPS allows institutions to outsource back office payment processes in a flexible way, tailored to their needs and existing structures. Customers can enjoy the benefits of access to a large, global bank while retaining their current relationships, allowing them to concentrate on building their businesses.”

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