HSBC Selects SAP NetWeaver Technology Platform For Corporate Integration

SAP AG announced that the HSBC Group would create a leading edge bank-client integration solution using the SAP NetWeaver technology platform to streamline and automate the bank's communications for the delivery of banking services to its corporate banking clients.

With SAP, HSBC would standardize corporate-to-bank integrations to greatly reduce the complexity and time needed to associate workflows between its clients.

Powered by SAP NetWeaver, HSBC's new bank-client integration solution would enable corporate clients to link into HSBC's worldwide banking network through a single entry point, simplifying communications for the bank's corporate services such as account payables, account receivables and reconciliations. HSBC's customers would gain easier access to their banking information.

Additionally, SAP said that the solution would provide better support for compliance initiatives, creates integration of financial supply chains and drive efficient working capital management.

Marcus Treacher, HSBC head of electronic banking and e-commerce for global transaction banking, said, "SAP is a leading enterprise resource planning [ERP] solution provider, and with many of our clients worldwide already running on SAP, it was the natural choice for our business needs. By combining HSBC's banking services with enterprise resource planning automation in new, highly integrated ways, customers can look forward to a faster, richer and seamless banking experience with us, worldwide."

SAP Netweaver communicates transactions using the ISO 20022 XML format, providing a standard interface between corporate clients' ERP systems and the bank's back-office.


Source: RTT News