HSBC Unveils Treasury Management APIs

FACTS

  • The British bank HSBC launches an API suite for corporate treasury.
  • Goal: provide client companies with a faster way to transfer money.
  • Reach: 27 markets in Asia, America, in the Middle East and in Europe, including France, Germany and the UK.
  • The new service called Treasury APIs lets corporate treasurers make payments from their workstation, without connecting to a proprietary banking platform. They are instantly sent a payment confirmation and may track their transactions.
  • These APIs are available from ERP systems and corporate treasury management platforms. They support single or bulk payments, real-time payments as well as payment status enquiries.
  • Treasurers may also rely on Treasury APIs to check account balances and transactions on-demand in real time.

CHALLENGES

  • . APIs are next-generation banking connectivity tools, featuring advantages compared to conventional file transfer technologies. This emerging connectivity standard entails opportunities for real-time bank posting as well as account and payment management.
  • Improved customer experience. With Treasury APIs, HSBC meets a new customer demand, as they expect faster and simpler accesses to their payment services. This solution is already used by TATA’s e-commerce platform, for triggering payments automatically, 24/7, without having to manually input data. Their customers get their refunds faster, which contributes to improving their experience.

MARKET PERSPECTIVE

  • This isn’t the first time this British institution launches their own APIs. Just under a year ago, HSBC unveiled a PSD2-compliant portal enabling third-party payment service providers to craft products and services for European companies and consumers.
  • In February 2019, Citi also launched an API in partnership with Kyriba provider of Cloud Treasury and finance solutions– giving their clients access to faster payments.

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