HSBC mandates CGI for new trade and receivables platform
"The platform is intended to accelerate the ongoing transformation of HSBC’s global trade and receivables business by refreshing the underlying technology and improving agility and processing capabilities," CGI said.
The platform will use CGI’s Trade360, an end to end global trade finance solution, to deliver the software required. The new infrastructure will leverage and converge different emerging technologies for HSBC’s clients, including distributed ledger, APIs and Internet of Things, said CGI.
“We are very closely aligned with HSBC in our thinking on how trade and supply chain finance should develop,” explained Neil Sadler, Senior Vice President, UK Financial Services, at CGI. “Working together on an important industry programme such as this is mutually beneficial to us both, as it will allow HSBC to speed up the process of bringing additional value to their client base, while enabling CGI to accelerate the value of our market leading intellectual property.”