B2B Payments

HSBC Debuts Corporate Treasury APIs For Integrated Payments

HSBC

U.K. financial institution HSBC is rolling out a suite of APIs (application program interfaces) designed for corporate treasurers to more seamlessly initiate financial transactions.

Reports in Treasury-Management on Wednesday (Jan. 15) said HSBC announced the launch of its Treasury APIs in 27 markets around the world. The technology enables corporate treasurers to initiate funds transfers from within their own workstations without having to toggle between separate bank platforms.

The APIs are available within ERP systems, treasury management platforms and other portals in use by corporate treasurers today. They support real-time payments, single or bulk payments and payment status enquiry.

The solution connects treasurers to the funds transfer capability as well as confirmation of payment request and payment tracking from their account to the beneficiary’s. In its announcement, HSBC highlighted the enhanced visibility of the progress of a transaction, as well as the ability for treasurers to access key information on account balances and transactions on demand in real time, as benefits that can support treasurers’ need for the ability to make “dynamic cash management decisions.”

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

Last year HSBC rolled out a string of APIs as well as a developer portal designed to enable developers to design solutions that are PSD2-compliant. The APIs allow new solutions to integrate with HSBC data, including account information, payment initiation and funds confirmation for both consumer and corporate payments.

Months later, the financial institution introduced APIs for partner banks to facilitate trade finance transactions allowing those financial institutions to issue local guarantees in markets in which they do not operate.

——————————

PYMNTS LIVE ROUNDTABLE: TUESDAY, JULY 14, 2020 AT 12:00 PM (ET)

Digital transformation has been forcefully accelerated, but how does that agility translate into the fight against COVID-era attacks and sophisticated identity threats? As millions embrace online everything, preserving digital trust now falls mostly on banks and FIs. Now, advances in identity data and using different weights on the payment mix afford new opportunities to arm organizations and their customers against cyberthreats. From the latest in machine learning for fraud and risk, to corporate treasury teams working in new ways with new datasets, learn from experts how digital identity, together with advances like real-time payments, combine to engender trust and enrich relationships.

TRENDING RIGHT NOW