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CGI to develop HSBC’s trade finance technology platform

HSBC has selected Canadian IT and business consulting services group CGI to deliver its new global trade technology platform.

The bank said that the new platform is intended to accelerate theongoing transformation of HSBC’s global trade and receivables business by updating the underlying technology and improving agility and processing capabilities.

The bank will use CGI’s Trade360, an end-to-end global trade finance solution, to deliver the software and business capability for powering its global trade business.

The new infrastructure will assist HSBC in driving forward its innovation agenda by leveraging and converging various emerging technologies for HSBC’s clients, including distributed ledger, application program interfaces (APIs) and the Internet of Things (IoT).

HSBC also hopes to further enhance customer service through higher levels of digital engagement.

“We are very closely aligned with HSBC in our thinking of how trade and supply chain finance (SCF) should develop,” said Neil Sadler, senior vice president, UK financial services at CGI.

“Working together on an important industry programme such as this is mutually beneficial to us both, as it will allow HSBC to speed up the process of bringing additional value to their client base, while enabling CGI to accelerate the value of our market-leading intellectual property.”

HSBC recently announced that it had jointly developed a sustainable SCF programme for US retail giant Walmart.

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This item appears in the following sections:
Bank Relations & KYC
electronic Bank Account Management
Trade & FSC Management
Financial Supply Chain Platforms
Trade Finance

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