HSBC Introduces a Digital Trade Finance Platform

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To facilitate and expedite trade, HSBC has introduced HSBC Trade Solutions (HTS) for clients in its two biggest markets, the U.K. and Hong Kong.

According to a news statement, the new platform, which was created in collaboration with the IT consulting firm CGI, enables clients to manage all of their trade financing products online.

In the future, “HTS will form the backbone of HSBC’s market-leading trade service – enabling USD800bn of global trade each year,” according to the bank. It is designed to digitize HSBC’s trade financing solutions utilizing an API-native, modular tech stack.

According to the statement, the new platform would provide the bank the ability to adapt to change more quickly and effectively.

The bank wants to introduce HTS in more of the areas where it does business in the future.

According to HSBC Global Head of Trade Finance Products & Propositions Vinay Mendonca, “HSBC Trade Solutions has been co-created working closely with our clients and provides a huge step forward in terms of client experience.”

“Its adaptability will enable solutions to integrate into the continually changing ecosystems of our clients. 88% of our trade transactions are now started digitally across a variety of channels thanks to these digital technologies, Mendonca continued.

According to a press statement from CGI, David York, Vice President for Banking and Financial Markets in the U.K., “This key solution launch is an exciting moment for the market and extends the excellent working partnership between CGI and HSBC.” We are eager to collaborate closely in order to promote improvement in a variety of critically vital areas.