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Industry roundup: 17 September

HSBC expands currency offerings in its wallet

HSBC Bank USA has announced new offerings for current and new Business Banking customers who buy from or sell to international companies. With HSBC Global Wallet, businesses can now receive, pay, hold and transfer funds between currencies in the same FDIC-insured, US-based business account. HSBC Global Wallet is a multi-currency digital wallet accessed from the bank’s main business banking platform with local payment and collections capabilities.

HSBC Global Wallet has expanded its currency offerings to include Chinese Yuan, Japanese Yen, Swiss Francs and Malaysian Ringgit and will continue to add currencies over time. The platform already supports euros, US dollars, UK pound sterling, Hong Kong dollars, Canadian dollars, Singapore dollars, and Australian dollars.

The wallet will also now allow customers to both pay and receive payment in multiple foreign currencies, as well as hold and transfer currencies, all from the same business account. The ability to "receive and pay like a local" is designed to save clients time and money, reduces fees and ensures that international payments are made simple and efficient with a single-account solution.

"This innovative solution is fully integrated with HSBC’s existing business banking platform, bringing the strength of the HSBC international network to our small and medium-sized business US customers, supporting a much more efficient expansion of their international businesses," said Drew Douglas, head of Liquidity & Cash Management, US and Canada, at HSBC.


Société Générale Factoring partners with HPD Lendscape to advance digitalisation strategy 

Société Générale Factoring, a subsidiary of Société Générale dedicated to factoring, and HPD Lendscape, an international secured-lending platform vendor, have announced the successful alignment of the Société Générale Factoring’s 'open factoring' environment to the latest Lendscape API framework.

Using HPD Lendscape’s technology and their micro-service solutions, Société Générale Factoring has developed its bespoke client-facing web portal, which is designed to deliver value-add online experiences to its factoring and supply chain clients - including professionals, SMEs, non-profit organisations and corporates. The implementation also allows Société Générale Factoring to take further advantage of Lendscape's capabilities that support supply chain finance on-boarding.

"We have been keen to advance our digital agenda whilst being able to meet client needs, particularly during this period of Covid-19 and beyond," said Jonathan SL Croft, CIO at Société Générale Factoring. "This has been evidenced by the bank recently launching a purchase order finance solution to enable clients to receive finance in advance of invoices being raised. Having a flexible core platform, augmented by our own in-house technology, enables us to be agile and delivery new value-add business requirements."


Bank of Abyssinia partners with Xpert Digital to implement Temenos digital banking platform

Ethiopia’s Bank of Abyssinia has announced its partnership with Xpert Digital (XD), a certified Temenos Professional Service Partner for the Middle East and Africa, to implement Temenos Infinity. XD will revamp the bank’s existing retail and corporate banking to offer digital banking services for the bank’s customers across both segments.

The Temenos platform should enable the bank to increase digital revenues and reduce customer onboarding time. Temenos Infinity is designed to give bank customers the ability to have seamless, reliable, and secure mobile banking services. The implementation is part of the bank's commitment to offer an omnichannel experience to its customers across all touchpoints and facilitate 'anytime-anywhere' banking.

XD will help assist the bank to use Temenos Infinity and embark on a digital transformation journey to hyper-scale its digital footprint and provide a modern online banking platform. 

"To help us achieve our aim, we carefully and thoroughly reviewed Temenos’ partners and decided to select Xpert Digital (XD) as our digital transformation partner," said Sosina Mengesha Rundassa, chief digital officer at Bank of Abyssinia. "Xpert Digital seems to perfectly fit the criteria for our innovation and breakthrough in the digital world. XD’s ongoing projects and previous experience show the knowledge and dedication they have about digital banking. We believe this partnership will lead us to become one of Africa’s leading banks."


AFP partners with Smart Train on CTP exam prep courses for Vietnamese financial professionals

The Association for Financial Professionals (AFP) and Smart Train have announced a formal partnership to offer exam preparation courses for finance professionals based in Vietnam. The courses will equip financial professionals with the tools they need to earn the Certified Treasury Professional (CTP) certification.

By partnering together, AFP and Smart Train are providing finance professionals in Vietnam with a new path to earn the CTP designation. Students will learn from instructors that have extensive experience in teaching and senior positions, as well as knowledge in effective academic methods that help achieve the best exam results.

"This collaboration with Smart Train helps AFP bring the premier certification for the finance profession to Vietnam," said Himashi Soriano, AFP's managing director of APAC. "AFP understands the importance of preparing leaders and specialists in this area, and those that hold this certification are making a long-term commitment their career. This path to earning AFP’s CTP credential will help practitioners distinguish themselves among their peers and gain even more skills as they prepare for the exam."

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