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Cash & Liquidity Management
Published  6 MIN READ

Empowering Treasurers to Navigate a Changing World

The pace and scale of change in cash management is unprecedented. As such, treasurers need a banking partner who can deliver on the fundamentals while developing innovative solutions to keep treasury at the forefront of digital transformation. In 2019, HSBC excelled in sharing knowledge with clients and creating leading edge solutions to fit treasurers’ current needs and future aspirations – making HSBC the undisputed winner of TMI’s Award for Global Bank of the Year for Cash and Liquidity Management.

Digital innovation is changing the face of corporate treasury. From artificial intelligence (AI) to open application programming interfaces (APIs), a world of new efficiency opportunities is opening up to corporate treasurers. But determining which technology is the correct fit for treasury’s needs can be tough. Finding the budget to invest in the latest solutions isn’t easy, either. As such, corporate treasurers are looking to their banking partners to share best practice and innovate on their behalf.

In June 2018, HSBC announced a plan to invest USD$15-17bn on technology over three years to ensure that clients continue to benefit from world-class solutions. The bank’s approach to innovation and digital transformation allows HSBC to anticipate and assess the impact of emerging technologies and leverage these to deliver market-leading propositions. Close collaboration with fintechs, regulators, central banks and clients is an important component of this strategy.

One example of the bank’s deployment of technology in 2019 is the introduction of Next Generation Virtual Accounts Management (NgVAM). To date the solution has been rolled out in the UK, Netherlands, Singapore, Hong Kong, UAE, US (receivables only) and a further deployment is due in Ireland Q1 2020.