BankingCorporate to Bank RelationshipsHSBC launches Treasury APIs for payments in 27 markets

HSBC launches Treasury APIs for payments in 27 markets

Application Programming Interfaces are the future of corporate-to-bank connectivity – giving treasurers convenient access to payment and account services on demand

HSBC has announced the launch of Treasury APIs covering payments in 27 markets in a bid to offer business clients a faster and more seamless way to transfer funds.

Using HSBC Treasury APIs, treasurers can make payments from their own workstations, without logging into a proprietary bank platform. Clients receive confirmation that a payment request has been received and can track payments from their accounts to the beneficiary – improving visibility over transactions.

Clients can also use HSBC Treasury APIs to check account balances and transactions on demand, in real-time. This avoids reliance on reports or statements, and helps treasurers to make dynamic cash management decisions. HSBC Treasury APIs provide secure access to a range of services, making them available directly from a corporate ERP system, treasury workstation or another platform that clients use to run their business.

The APIs can be used for real-time payments, single or bulk payments, and payment status enquiry across a number of markets within Asia, Europe, the Middle East, and the Americas, including France, Germany, Hong Kong, India, Singapore, UAE, UK and USA.

Fast, simple and secure

Nadya Hijazi, Head of Digital, Global Liquidity and Cash Management, HSBC said: “Our APIs respond to rapidly-changing client demands for fast, simple and secure access to payment and account services. APIs are the future of corporate-to-bank connectivity, and we are excited to be putting clients at the centre of new developments to help them run and grow their businesses.”

TATA CLiQ, the e-commerce platform of TATA Group, now processes instant refunds to consumers using HSBC Treasury APIs in India.

Ashish Diwanji, Head of Finance and Business Support, Tata Unistore Limited (Tata CLiQ) said: “Previously we relied on file upload and approval to pay refunds, meaning our customers received their money a day after requesting it – as typically we get refund confirmations from sellers on our platform at the end of the day. With HSBC Treasury APIs, we can trigger payments automatically, 24/7, without any dependency on the CLiQ team being present. This means a much better experience for our customers as they get their money back faster.”

In October, SWIFT and HSBC joined forces for API standards – ISO 20022 JSON standards, to avoid fragmentation on common use cases, speed up and ease API integration efforts. In September 2019, for the very first time in the banking industry, HSBC had released a new trade finance API that gives Financial Institutions the capacity to create applications for their clients, leveraging HSBCs network and capabilities.

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