The APIs allow treasurers to make payments from their own workstations without logging into a proprietary bank platform. Clients receive a confirmation that a payment request has been received and can track payments from their accounts to the beneficiary.
The process establishes corporate-to-bank connectivity, as clients can better manage cash decisions by checking account balances and transactions in real time to avoid reliance on statements.
"Previously, we relied on file upload and approval to pay funds, meaning our customers received their money a day after requesting it," Ashish Diwanji, head of finance and business support at Tata Unistore Limited, or Tata CLiQ, an e-commerce platform processing instant refunds to consumers through the HSBC Treasury APIs in India.
"We can now trigger payments automatically 24/7 without any dependency on the CLiQ team being present," Diwanji said in a Wednesday press release. "This means a much better experience for our customers as they get their money back faster."
The HSBC Treasury APIs provide secure access to various services, making them available from a corporate enterprise resource planning system, treasury workstation or another platform that clients use to run their business.
"Our APIs respond to rapidly-changing client demands for fast, simple and secure access to payment and account services," Nadya Hijazi, head of digital, global liquidity and cash management at London-based HSBC, said in the release. "APIs are the future for corporate-to-bank connectivity and we are excited to be putting clients at the center of new developments to help them run and grow their businesses."
The APIs can be used for real-time payments, single or bulk payments, and payment status inquiry across markets within Asia, Europe, the Middle East, U.K. and United States.
