The Hongkong and Shanghai Banking Corporation Limited, better known as HSBC, has recently implemented host-to-host connectivity with Lafargeholcim Bangladesh Limited by integrating their Enterprise Resource Planning system with HSBC Connect.
HSBC can integrate its electronic banking platform with different standard ERP systems, which is defined as host-to-host connectivity.
Bangladesh-based system integration, coupled with a wide range of payment products, will help Lafargeholcim to disburse its commercial and statutory payments with more efficiency and less operational risk, said a press release.
Leveraging this host-to-host connectivity, Lafargeholcim will now be able to initiate all kinds of local disbursements over an encrypted network. This solution will also allow fully automated file transfer to and from HSBC along with account reporting and statement delivery.
Rajesh Surana, CEO of LafargeHolcim Bangladesh Limited, said, “Lafargeholcim was looking for a Straight Through Processing payment solution with an objective to eliminate human intervention in the payment process, increase payment security aligned with their internal compliance policy and also to reduce the workload in reconciliation process. HSBC came up with host-to-host style (fully automated) file transfer solution interfacing with Lafargeholcim ERP (SAP), supporting BEFTN, RTGS, HSBC to HSBC fund transfer transactions and our demand was fully met. Now with a single connection between Lafargeholcim ERP and HSBC Connect, we are able to make disbursement, both on real time basis and also through scheduled batch payments, which is saving us time and is reducing human error”.
Commenting on the solution, Md Mahbub ur Rahman, CEO of HSBC Bangladesh, said, “As a global bank, HSBC has been investing in technology for a long time to boost the productivity of the financial operations of our customers. We want to enable simple, fast and secure payments for our customers through our technology propositions. I would like to thank LafargeHolcim for joining hands with us, which will enable them to leverage HSBC’s innovative digital payment services.”
