Strength and Support

HSBC Shows its True Colours

Winning six TMI Awards for Innovation and Excellence in 2020, HSBC continues to demonstrate its global expertise in delivering leading-edge cash and liquidity management solutions. In addition, HSBC was rewarded for its pioneering approach to sustainability, as well as its work with three corporate clients. Last but by no means least, one of the bank’s most senior leaders was recognised for her work in supporting diversity and inclusion, as well as the environmental, social and governance (ESG) agenda.

To paraphrase Dr Martin Luther King, the true measure of someone is not how they behave during times of plain sailing, but how they respond to times of crisis and challenge. The same goes for organisations. And throughout 2020, HSBC continued to innovate and to support clients with creative solutions – not only in spite of the Covid-19 pandemic, but in many instances in direct response to it.

In the past 12 months, HSBC has continued to invest in its digital capabilities, ranging from its Liquidity Management Portal (LMP) to a new cash flow forecasting tool and its mobile omni-collect solution. These digital tools have become indispensable to corporate clients throughout the pandemic – and are just one of many reasons for HSBC being named as TMI’s Global Bank of the Year for Cash and Liquidity Management 2020.

The bank won two regional cash and liquidity management awards as well, for North America and China. In the former, the bank launched a number of digital initiatives – ranging from pandemic essentials such as accepting electronic instructions from clients to its Beneficiary Self-Management (BSM) tool. This self-service portal reduces the time and cost of beneficiary management and now leverages application programming interface (API) technology to assist with validation of credentials. Meanwhile, in China, the bank has assisted clients to improve their cash and liquidity management with the broadening of its e-tax solution and the widening of the bank’s e-wallet collections capabilities, through its mobile-enabled omni-collect proposition.

HSBC also won regional awards in North America and China for being the Best Bank for Trade Finance & Financial Supply Chain. In both geographies, the bank has proactively engaged with its clients to engineer solutions that optimise their working capital, ensuring both they and their critical suppliers have meaningful access to liquidity to navigate the volatility attributable to the pandemic and to capture growth opportunities. Several confidential client testimonials brought these stories to life for the TMI judges – including a sector-first achievement in China.

Elsewhere, HSBC won the Best Mobile Technology Solution for Treasury 2020, for its full package mobile offering. With biometric security used to log on to HSBCnet Mobile app, the platform is not only secure but easy to use. Notable features include mobile cheque deposit capabilities and an on-the-go version of the Liquidity Management Dashboard – for data and analytics anywhere, anytime.

Championing the cause

In addition to its digital innovations, HSBC was recognised by the TMI judges for its sustainability credentials. The bank won the Treasury4Good Best Provider of Green Cash & Liquidity Solutions 2020 for its new Green Deposits programme. This presents corporate clients with an opportunity to fulfil their sustainability goals by investing their surplus cash balances into environmentally beneficial projects and initiatives. These are currently available in the UK (GBP and USD), Singapore (SGD and USD) and India (INR).

In addition to this Award win, Diane S. Reyes, Group General Manager, Global Head of Liquidity and Cash Management, was named Outstanding Treasury4Good Leader 2020. Although Diane sees this very much as a team Award, recognising the hard work of everyone within the Global Liquidity and Cash Management business, she is personally responsible for pushing forward both sustainability and diversity and inclusion (D&I) initiatives.
Her notable achievements in the D&I arena include being the Executive Sponsor for the bank’s Accelerating into Leadership programme, which provides coaching and development for high-performing manager-level women; and for the HBUS Nurture Employee Resource Group, which is focused on providing support for employee caregivers.

In addition to Awards for its own work and representatives, HSBC also helped three of its clients to take home TMI Corporate Recognition Awards. The Hongkong and Shanghai Hotels Limited (HSH) was Highly Commended for Best Treasury Transformation 2020. During the past 12 months, HSH has undertaken an ambitious treasury transformation, with the help of HSBC, to achieve better efficiency, tighter internal controls and direct economic benefits for the company. The project covered liquidity management, reporting, systems, treasury policy, strategic cash management, account rationalisation and standardising the company’s cash flow forecasting methodology.

Another Highly Commended accolade went to Shanxi Securities International Asset Management for Treasury Technology Problem Solving 2020. The organisation worked with HSBC to implement a one-stop cross-border technology platform to assist international investors to benefit from its new exchange-traded fund (ETF) product. This solution not only satisfies all regulatory requirements but has also provided an enhanced experience for end-customers, while increasing cash velocity and streamlining payments and reconciliation.

Finally, KPJ Healthcare Berhad won TMI’s prestigious Covid-19 Response Award 2020. Designated as one of the approved hospitals for Covid-19 testing in Malaysia, KPJ Healthcare wanted to find a way to enable patients to pay for their tests quickly and, above all, safely. The company worked with HSBC to roll out a cashless collection solution that leveraged instant payments and quick response (QR) codes. In addition to the efficiency benefits of this solution for the healthcare provider, patients and their next of kin now have a convenient, contactless payment solution that brings them peace of mind during the toughest of times.

Commenting on the Award wins Diane S. Reyes said: “Digital is a constant theme in these awards. It was through our investment in digital solutions over the last few years that we, and our clients who’ve also been recognised, were able to stand up strongly and react at pace to the challenges posed by the pandemic. I am delighted for my colleagues, who have worked so tirelessly and relentlessly over the last year to support our clients.”