logo

Demica technology powers HSBC’s new global trade receivables platform

10 Mar 21

HSBC, the world’s leading global trade bank, has gone live with a new receivables finance platform developed by Demica, a Fintech specialising in working capital solutions.

The new platform provides HSBC’s large corporate clients with a single portal to load invoices, sell receivables and monitor the performance of the portfolio, enabling them to take advantage of a wide range of receivables financing structures.

The development is part of HSBC’s global ‘trade transformation’ strategy – to drive client experience through the use of digital technology across their business – and will enhance the bank’s existing receivables financing technology. The enhanced capabilities will be rolled out globally.

Work to design and develop this solution has been ongoing for the past year, involving numerous workshops to meet HSBC’s client requirements. HSBC chose Demica for both its specialist platform technology and its expertise in implementing large-scale working capital solutions. HSBC intends to continue working with Demica to further enhance platform functionality.

HSBC provides receivables finance to help businesses grow domestically and internationally. For large corporates the solution enables customers to maximise Free Cash Flow and other Key Performance Indicators as well as de-risk their balance sheet. Customers can thus offer attractive terms to win new custom and grow safely.

We are delighted to be working with HSBC to support them on their trade transformation strategy as we continue to enhance their processing capabilities and client experience together. We look forward to seeing the benefits flow through to HSBC’s clients around the world as the bank rolls out the platform.

Matt Wreford, Demica’s Chief Executive Officer

Commenting on the new platform launch, Vinay Mendonca, Global Head Product, Propositions & Structuring, Global Trade and Receivables Finance, HSBC said ” We’re pleased to see our first country go live on the enhanced platform, delivering an improved customer journey thanks to self-service capabilities and reporting. We are excited about rolling out the platform to more countries over the course of 2021”.

About Demica

Demica is a leading Fintech providing working capital solutions to large corporates and banks through a broad range of supply chain finance solutions. The company focuses on forming long-term partnerships with multinational clients and banks globally, enabling the provision of sustainable long-term financing programmes. Today Demica has over US$18.4bn of funded assets outstanding on its platform, provided by a diverse range of banks and institutional investors.

For media enquiries, please contact – Daniel O’Hara – Daniel.ohara@demica.com, +44 (0) 2039585903

Resources By Category

Related Articles