Manish Kohli, head of global payments solutions at HSBC, discusses the bank’s digital payment strategy and how to innovate it in the field of banking services. HSBC has been assigned one of the most innovative Global Finance banks.
Global financing: Open banking services are high. How does HSBC see its role developing in this new ecosystem?
Manish Kohli: HSBC is a major player in the open banking ecosystem and open financing. We are the world’s largest transaction bank and we have a global imprint that extends over many judicial states and clearing systems that lead the open banking agenda.
We re -engineer our operations by integrating advanced digital solutions, from automatic monetary management to a strong API connection. So we automate handicrafts and combine systems to improve efficiency and risk management.
Cooperation is the key, because we see open banking services as an incentive for the most focused ecosystem. This cooperation begins with our customers because it helps to form a road map developing our products.
We also collaborate through customer Treasure Tech Tech Tech Tech This ensures that we provide customers with a comprehensive solution and remain on focusing on integrating technology into payment solutions that support our customers and the treasury lane with information in the actual time they need to make more important cash management decisions.
GF: What is the HSBC strategy to integrate emerging payment technologies such as digital currencies – including the Central Bank’s digital currencies (CBDCS) – Do you see this affect your payment solutions?
Kohli: While CBDC entitlements vary greatly by market, it will play an important role in payment solutions tomorrow, which is why we continue to search, test and invest with various central banks worldwide.
Currently, HSBC is involved in experimental projects with central banks in the markets, including the United Kingdom, France, Singapore, Hong Kong, China, Thailand and the United Arab Emirates, and with the International Settlement Project Bank.
The Division Orion Plastic Plastic Plastic platform has led the road to the capital market infrastructure. HSBC was also one of the first financial institutions that completed cases of the use of concept proof within the SANDBOX project for the project group, a CBDC project of Hong Kong to accelerate the distinctive symbol.
GF: How does HSBC use data analyzes to gain deeper visions of customer behavior within digital channels? How do you use these ideas to push innovation in customer service?
Kohli: We process many transactions per second, and generate a wealth of data. This data is used not only for an analysis retroactively but also in the actual time, which leads to smart payments solutions. The visions collected from millions of transactions help us to improve our operations only, but they provide us with a customized and implemented advice for our customers, starting with choosing the fastest or cheapest international payment of risk stability strategies.
We can discover our innovative analysis tools when paying an alternative currency. This allows us to provide a option for customers to secure the best price. The use of AI and API integration also ensures that the visions of payment decisions immediately support payment decisions.
We have created a set for cabinet solutions, which are conducting gap analyzes and recommending best practices to improve treasury operations.
GF: In addition to additional improvements on the current digital channels, what are the “snapshots”, banking services solutions, or sabotage that HSBC invests?
Kohli: We do not underestimate the importance of gradual improvement, given that we are working in an ecosystem that regulates significantly and depends on the market that extends on many organizers, central banks and payment partners.
We focus on building innovative solutions that enable our customers to switch in the digital economy. In recent years, we have made significant investments to develop digital solutions that help accelerate the pace in which money moves worldwide. The latest innovative solutions, Digital Merchant Services, enabled HSBC to become a digital cards, local electronic portfolios, actual time payments, and help our commercial customers who have smooth payment groups widely and develop their business efficiently.
We have invested 30 million dollars in building a liquidity engine of the next generation, and it allows us to use Amnesty International to provide visions in the actual time based on data during transactions. For example, through a router FX, our systems can immediately recommend customers about the best currency option, ensuring the most suitable prices, making our payment solutions more intelligent and more flexible. Tomorrow’s moon clips will be the result of continuous cooperation with many stakeholders in the ecosystem, continuous investment, research and continuous development.
