The bank’s new online platform for corporate customers simplifies receivables collection and improves transparency and monitoring capabilities.
HSBC Singapore is launching another digital solution for corporate customers – Dart, or the Digital Accounts Receivables Tool, which connects businesses to their customers by enabling the exchange of invoice and payment information, the bank said in a statement on Tuesday.
According to the bank, receivables reconciliation remains a key challenge for treasury functions that receive and process large volumes of payments on a daily basis, particularly when identifying payers and matching with invoices.
Supply chain resilience has become synonymous with digitization, and the receivables reconciliation process is a prime candidate for transformation, Winnie Yap, HSBC Singapore head of global liquidity and cash management, said.
Digital Capabilities
HSBC has rolled out a number of digitally-driven solutions for its corporate customers in recent months, including a multi-currency digital wallet for corporate customers, Omni Collect – a one-stop digital solution for all payment collections needs.
The bank said it will progressively widen the capabilities available on Dart, as it optimizes its digital services to support customers.