HSBC Continues Commitment to API-Driven Financial Solutions

It has been reported that HSBC, a British multinational investment bank, has announced several new treasury APIs that will serve 27 markets around the world. These new APIs aim to improve the transparency and efficiency of financial transactions for HSBC’s customers. This announcement provides evidence of HSBC’s continued commitment to the creation of API-driven financial solutions. 

At Salesforce's annual Dreamforce conference in 2019, HSBC announced plans to create a digital banking platform that will offer HSBC customers new connected experiences powered by APIs. HSBC hopes that with this platform they will be able to build APIs that provide customers with secure access to banking products and enable future integration with financial partners.

PSD2, the EU’s revised Payment Services Directive, has pushed the envelope for financial providers hoping to keep pace in the ever-evolving world of open banking. This industry advancement has required financial institutions to not only embrace APIs but also develop robust API strategies that account for the entire user experience. HSBC is working to develop an API strategy that it believes can help them thrive in this new environment.

With these new treasury APIs, HSBC notes that financial managers will be able to make payments from their own workstations without needing to login to a proprietary banking platform. The APIs will improve visibility by allowing treasurers to track payments from their accounts to beneficiaries. HSBC hopes that the ability to check account balances and transactions in real-time will allow treasurers to make more dynamic decisions. 

Be sure to read the next Banking article: 10 Popular Banking APIs

 

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