The Hong Kong and Shanghai Banking Corporation (HSBC) has recently launched an instant (real-time) payment collection program in Bangladesh.
As part of its ever-evolving activities, the real-time collection system will enhance the customers' experience and make transactions easier, safer and smarter.
This real-time collection system has been implemented through National Payments Switch of Bangladesh (NPSB) with the support of the Central Bank, reads a press release.
NPSB is an electronic platform that aims to conduct integrated inter-bank real-time operations among designated banks.
With the launch of this service, corporate and retail customers of HSBC Bangladesh will now be able to receive funds instantly from any other local NPSB Internet Banking Fund Transfer Bank.
Customers like Bureau Veritas (Bangladesh) Pvt. Ltd. and Continental Traders (Bangladesh) Ltd. have already benefited from using this service.
Commenting on the milestone, Kevin Green, Country Head of Wholesale Banking, HSBC Bangladesh, said, "The digitisation of our banking services has brought many new benefits to our customers and their supply chain."
"The ability to accept payments in real time will reduce the time for accounts receivable reconciliation activities that will help our customers increase productivity and manage their cash flow more efficiently. "
HSBC Bangladesh is making significant strides in various areas of cash and liquidity management.
In the Euromoney Cash Management Survey, the bank has been selected as the 'Market Leader' in Bangladesh for the 12th time and the 'Best Service' in Bangladesh for four consecutive years.
HSBC Bangladesh is constantly investing in our customers to keep their business afloat by providing more and more digital services.