In today’s competitive market, HBL - the largest domestic multinational bank in Pakistan, needed to give its corporate customers a more convenient way to bank, and to automate cash management and trade finance transactions — all while tightening control over internal risk management. They have been working with Misys, a leading financial software company, who today announced that HBL has adopted Misys FusionBanking Corporate Channels to enhance its corporate banking business. HBL went live with the platform in four months, which brings together trade services, cash management and supply chain finance on a single, digital solution.

New competitive edge for HBL

Fareed Hosain, Chief Information Officer, HBL said: “Our technology needed to be enhanced to meet our clients’ shifting preferences to digital banking. Our corporate customers were increasingly doing business internationally and needed access to data not just in Pakistan, but globally. The ability to provide customers with a common digital solution for trade finance and cash management will be a powerful sales tool to attract more business and deepen our existing client relationships. We have the agility to introduce game-changing products and solutions more rapidly, and our strategic partnership with Misys gives us a corporate banking infrastructure that is integrated, automated and controlled from an efficiency and risk perspective.”

In addition to implementing FusionBanking Corporate Channels for Cash and Trade, the bank also uses Misys FusionBanking Trade Innovation, Misys FusionBanking Equation, and Misys FusionBanking Message Manager. 

The bank has also chosen Misys FusionRisk to gain a clearer image of risk exposure and help sharpen decision-making. By providing teams with up-to-the-minute insight into credit, market and liquidity risk, and with powerful calculation tools, the bank will be able to improve anticipation of the possible threats, identify key opportunities and optimise capital allocation.

Misys believe that:

• the unified corporate banking solution will enable HBL to increase business volumes as well as offer new cash and trade services quickly to clients via a consistent online banking application
• by implementing FusionBanking Corporate Channels, HBL will give its customers the ability to manage cash and optimise working capital and liquidity from a single point of access that provides full coverage for the bank’s trade and cash services. 

Overall impact 

With this integrated suite of solutions to support corporate banking, HBL is digitising the entire business enhancing efficiencies for its clients and improving corporate connectivity. They expect that the new platform will help them to expand their corporate customer base by more than 65%, driving increases in both revenue and market share.

HBL believe that they now have a unique advantage over competitors, which will help them to win all-important market share and cement its leadership position in Pakistan’s banking sector. In particular, HBL anticipates that offering ERP integration and straight-through-processing will serve as important differentiators, as many other banks do not currently provide such services to their corporate customers.

With a global presence in 29 countries, HBL will be expanding its presence in principal international markets including the UK, UAE, South and Central Asia, Africa and the Far East.

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CTMfile take: This really shows the impact of technology platforms. In just a few months (clearly much more than the four months it took to install the Mysis software) HBL will have transformed their cash management and trade offering for corporates. Enabling them to be much more competitive with the leading international cash management banks.