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HSBC Simplifies Cross-Border Transactions

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HSBC India today announced the launch of ‘HSBC UniTransact’, a first-of-its-kind digital proposition aimed at simplifying cross-border transactions. This offering is a one-stop solution, bringing clients the benefit of seamless integration of all aspects of transaction banking while minimising manual intervention through the course of the transaction journey.

Given the complexities of international trade and cross-border transactions, HSBC UniTransact is aimed at streamlining the various processes involved for clients. By digitising all the steps of a transaction, it enables end-to-end visibility of these transactions to clients and also addresses the challenges of having to deal with multiple touch points across different teams for each transaction. It provides a range of benefits such as:

  • Comprehensive Dashboard: It provides a summary of all cross border transactions to be processed, for goods and services; inwards as well as outwards
  • Enhanced Visibility: Detailed real time status throughout the life-cycle of all the cross border transactions
  • Online Discrepancy Resolution: Seamless two-way communication with clients to seek clarifications/ additional information to take transactions to closure
  • Efficient Management of Documentation: Ability for clients to upload, store and retrieve documents for transactions
  • Alerts & Notifications: Customised alerts for actions required/ completed to keep clients updated on the status of their transactions at all times
  • Seamless Execution: Single platform for direct as well as automated FX execution via different FX engines and utilisation of forward contracts.

Commenting on the launch, Hitendra Dave, General Manager & CEO, HSBC India said, “HSBC UniTransact is the latest reflection of our ongoing commitment to enhance client experience via various digital initiatives. The launch of ‘HSBC UniTransact’ is aimed at unifying all the processes and interactions for our clients in any cross border transaction journey. From reducing the number of touchpoints they need to go through, to providing them end-to-end visibility of each transaction, we are confident that UniTransact will create a truly unique world class user experience for our clients.”

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