HSBC slashes time-to-cash from months to days

New online process cuts approval time for Receivables Finance (RF) customers from one-to-two months to under 48 hours with Trade Ledger technology.

1 - 2 days

time-to-yes down from 2 months

countries live

88%

of transactions now originated online

The launch of Digital RF eliminates time consuming and labour-intensive manual processes for our customers. What’s more, they can find out whether their application is likely to be successful within hours rather than months.

Vinay Mendonca

Chief Growth Officer, Global Trade and Receivables

The goal

Make it simpler, faster, and more secure to apply for working capital by digitising their Receivables Finance approval process.

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The idea

Roll-out an online application journey in order to deliver automation across data aggregation, credit assessment and offer.

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The impact we made

Trade Ledger technology delights HSBC customers with quick access to liquidity.

Using the new online application journey, co-created with Trade Ledger, with a few clicks HSBC customers can now transfer data directly through an API from their accounting software package. They also have the option to upload their data through a user-interface.

The Digital RF solution, built on the Trade Ledger platform, automatically generates a survey and risk report using a rule-based decisioning engine which is then submitted to the underwriters within hours of the application being received. The client is kept updated of the status of their application and a final decision is typically received within two days, including an indicative offer.

The last three years have seen an unprecedented shift to digital. With a few clicks HSBC customers can now transfer data directly from their accounting software package.

The Digital RF application process is now available in 13 countries and territories including the UK, Hong Kong, USA, Canada and Singapore.

Trade Ledger's partnership with the world’s largest commercial bank has been highly productive. The platform has enabled HSBC to offer its customers fast, easy access to working capital.

Digital Receivables Finance is the result of a significant team effort to utilise enterprise-grade technology in order to drive customer convenience and tackle the funding gap for businesses across the world.