The Hongkong and Shanghai Banking Corporation Limited (HSBC) has recently implemented Host-to-Host connectivity with LafargeHolcim Bangladesh Limited (LHBL) by integrating their Enterprise Resource Planning (ERP) system with HSBC Connect.
HSBC is able to integrate its electronic banking platform with different standard ERP systems, which is defined as Host-to-Host connectivity.
This Bangladesh-based system integration, coupled with a wide range of payment products, will help LHBL disburse its commercial and statutory payments with more efficiency and less operational risk, said a statement.
LHBL was looking for streamlined end-to-end payment activities to reduce cost, potential manual errors and other operation risks. They also needed an efficient tool for easy payment reconciliation. Leveraging this Host-to-Host connectivity LHBL will now be able to initiate all kinds of local disbursements over an encrypted network. This solution will also allow fully automated file transfer to and from HSBC along with account reporting and statement delivery.
Rajesh Surana, CEO of LafargeHolcim Bangladesh Limited commented, "LHBL was looking for an STP (Straight Through Processing) payment solution with an objective to eliminate human intervention in the payment process, increase payment security aligned with their internal compliance policy and also to reduce the workload in reconciliation process. HSBC came up with Host-to-Host style (fully automated) file transfer solution interfacing with LHBL ERP (SAP), supporting BEFTN, RTGS, HSBC to HSBC fund transfer transactions and our demand was fully met.
Now with a single connection between LHBL ERP and HSBC Connect, we are able to make disbursement, both on real time basis and also through scheduled batch payments, which is saving us time and is reducing human error".
HSBC offers a wide range of online capabilities that move beyond basic connectivity into more sophisticated integrated solutions to manage banking requirements around cash and liquidity management. Cutting-edge solutions like Host-to-Host integration between HSBC systems and a client's ERPs offer more efficient cash management, reducing the turn-around-time and cost for its valued clients.
Commenting on the solution, Md Mahbubur Rahman, CEO of HSBC Bangladesh said, "As a global bank, HSBC has been investing in technology for a long time to boost the productivity of the financial operations of our customers. We want to enable simple, fast and secure payments for our customers through our technology propositions. I would like to thank LafargeHolcim for joining hands with us, which will enable them to leverage HSBC's innovative digital payment services."
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