HSBC launches new product for Kuwait firms
Kuwait, June 28, 2012
HSBC said it has launched a highly-advanced internet banking proposition, HSBC Connect to automate transactions for the large and mid- market businesses in Kuwait.
HSBC Connect is specifically-designed for businesses that regularly generate a large number of transactions locally or internationally.
corporate customers in Kuwait
The online application is fully automated and directly integrates with in-house systems – significantly speeding up the processing of transactions from start to completion that would otherwise require manual assistance.
Through offering a secure, flexible and highly efficient solution for payment, collection and reconciliation needs, the product can improve a business’s overall management of its working capital, said a senior official.
Simon Vaughan Johnson, the CEO of HSBC Bank Middle East, Kuwait said today’s business environment demands fast, secure and error-free handling of financial data on a global scale.
"HSBC Connect ensures efficient processing of large volumes of payables and receivables through a secure integrated connection with the Bank. We are very excited to make this unique solution available to large corporates and multi-national companies in Kuwait," he noted.
According to Johnson, it is a successful product offered in over 40 countries across the Americas, Asia, Europe and Middle East.
"Operated alongside HSBCnet, customers can authorise instructions based on their specific requirements as well as track progress through automatic reports and online acknowledgements. HSBC is one of the first international banks to offer such a solution to businesses in Kuwait," he noted.
Natasha Patel, the regional head of Payments & Cash Management for Mena said, “Kuwait is a strategic market for HSBC in the region, and the Bank’s focus is on bringing the world of international financial services to its customer base to help them achieve their growth ambitions."
"We are also strongly focused and committed to supporting the government’s initiatives to building Kuwait’s economy," she added-TradeArabia News Service