The latest launch from HSBC looks to harmonise treasury friction while alleviating manual workload across its clients’ varying channels into one unified approach.
HSBC is embarking on the next phase of its digital banking transformation to simplify the user experience of corporate and institutional clients.
The global bank announced the launch of HSBCnio, a digital solution which consolidates HSBC’s services, data and intelligence into dedicated channels, platforms and workflows where clients operate.
HSBCnio will embed connectivity and AI interfaces into clients’ business channels, which are compatible with web and mobile apps, to give a more seamless single point to access HSBC’s banking services.
The design of HSBCnio enables clients to view transactions and payment tracking through a consolidated platform which is connected via the bank’s APIs to bring data and intelligence into their platforms.
API documentation, along with software development kits, will be rolled out by HSBC to reduce integration friction. HSBC is also using AI to enable clients to access its Model Context Protocol, which allows them to query authorised account and transaction information faster.
Amber Henderson-Smart, Global Head of Client Connectivity at HSBC, described the newly launched service as “one digital solution with multiple ways to bank based on their preferences”.
“The new solution brings transaction banking capabilities into the channels and workflows that clients use today, while helping them integrate AI through secure, permissioned access to their banking information,” said Henderson-Smart.
“AI is core to the design of HSBCnio and supports HSBC’s ambition to build a bank for the future by embedding AI solutions that benefit our clients. We are investing in the technology and platforms needed to serve customers more effectively, enabling them to compare products more quickly and explore a wider range of options.”
Unlocking treasury transaction friction
HSBC is also proposing HSBCnio for treasury teams operating across multiple geographical markets, systems and workflows who struggle with fragmentation of transaction data.
Treasury transaction data friction stems from a myriad of reasons, such as legacy systems, firms slower in adopting ISO 20022, cross-border payment intermediaries, and human/manual errors.
HSBCnio intends to address some of these friction points by unifying the channels to access transaction banking to not only reduce operational workloads, but to provide more timely information for decision-making.
There is also a large focus on handing responsibility to AI tools to automate access. These tools will be housed in the Model Context Protocol.
AI being embedded in treasury workflows seeks to automate manual tasks, like transaction data collection and analysis, by adopting trusted datasets and permissions, alongside appropriate controls.
Over time, HSBC is seeking to extend HSBCnio’s services to more AI-enabled services. This includes the ‘Ask HSBC’ feature, which helps clients with queries on how to interpret their banking information.
HSBC noted that the availability and features of HSBCnio may vary by market and client configuration.
