LONDON, Oct. 6, 2022 /PRNewswire/ - HSBC has launched HSBC Trade Solutions (HTS) to customers in its two largest markets - the UK and Hong Kong. Whilst making trade simpler, faster, and safer for customers through integrated digital journeys, HTS will power commerce that is rapidly evolving across different platforms and ecosystems.
Developed in partnership with CGI (NYSE: GIB) (TSX: GIB.A), the new platform allows clients to originate and manage all their trade finance products online. HTS leverages an API-native, modular design and flexible tech-stack that will form the backbone of HSBC's market-leading trade offering – supporting USD800bn of global trade per year.
Against a landscape of ongoing transformation through new technologies, improving supply chain resiliency and ESG imperatives, HTS will enable the bank to embrace future change faster and more efficiently.
HTS has redefined client experience through intuitive, self-service digital interfaces developed using ethnography. Clients will also benefit through higher degree of automation and straight through processing. Using the new platform also strengthens risk management and monitoring through fully integrated Anti-Money Laundering (AML), sanctions, fraud, and credit risk controls.
"HSBC Trade Solutions has been co-created working closely with our clients and delivers a major step forward in terms of client experience", said Vinay Mendonca, Global Head of Trade Finance Products and Propositions at HSBC. "Its flexibility will power solutions to fit into our clients' rapidly evolving ecosystems. Using such digital solutions, 88% of our trade transactions are now initiated digitally across a range of channels."
"This important solution launch is an exciting time for the marketplace and continues the strong working relationship between CGI and HSBC," said David York, Vice President for Banking and Financial Markets for CGI in the UK. "We look forward to working closely to drive positive change across a number of hugely important areas."
The converged data architecture of HTS will power quicker digital decisioning and deeper customer insights. The platform's automated distribution engine will help scale distribution as trade finance assets increasingly become an investable asset class.
With the core platform built and deployed in UK and Hong Kong, HTS is now being introduced to additional markets across 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 geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,985bn at 30 June 2022, HSBC is one of the world's largest banking and financial services organisations.
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 88,500 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services 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 Fiscal 2021 reported revenue is C$12.13 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.
SOURCE CGI Inc.
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