LONDON, October 6, 2022 /PRNewswire/ – HSBC has launched HSBC Trade Solutions (HTS) for customers in its two largest markets – the UK and hong kong. While making commerce simpler, faster and safer for customers through integrated digital journeys, HTS will power fast-moving commerce across different platforms and ecosystems.
Developed in partnership with CGI (NYSE: GIB) (TSX: GIB.A), the new platform allows clients to create and manage all of their trade finance products online. HTS is built on an API-native modular design and flexible technology stack that will form the backbone of HSBC’s market-leading business offering – supporting $800 billion of world trade per year.
In a landscape of continuous transformation through new technologies, enhancing supply chain resilience and ESG imperatives, HTS will enable the bank to adopt future changes faster and more effectively.
HTS has redefined the customer experience through intuitive, self-service digital interfaces developed using ethnography. Customers will also benefit from a higher degree of automation and straight-through processing. Using the new platform also strengthens risk management and oversight with fully integrated anti-money laundering (AML), sanctions, fraud and credit risk controls.
“HSBC Trade Solutions was co-created in close collaboration with our clients and delivers a breakthrough in customer experience,” said Vinay Mendonca, Global Head of Trade Finance Products and Proposals at HSBC. “Its flexibility will allow solutions to adapt to our customers’ rapidly changing ecosystems. Thanks to these digital solutions, 88% of our business transactions are now initiated digitally across a range of channels.”
“This important solution launch is an exciting time for the market and continues the strong working relationship between CGI and HSBC,” said David York, Vice President of Banking and Capital Markets for CGI in the UK. “We look forward to working closely together to bring about positive change in a number of critically important areas.”
HTS’s converged data architecture will enable faster digital decision-making and better customer insight. The platform’s automated distribution engine will help expand distribution as trade finance assets increasingly become an investable asset class.
With the main platform built and deployed in the UK and hong kongHTS is now introduced in other markets through the HSBC network.
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 63 countries and territories in its geographic regions: Europe, Asia, North America, Latin Americaand Middle East and North Africa. With assets of $2.985 billion at June 30, 2022HSBC is one of the largest banking and financial services organizations in the world.
Founded in 1976, CGI is one of the largest independent IT and business consulting firms in the world. With 88,500 consultants and professionals worldwide, CGI offers a portfolio of end-to-end capabilities, ranging from strategic IT and business consulting to systems integration, managed IT and business process services. business and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI’s reported revenue for fiscal year 2021 is 12.13 billion Canadian dollars and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.