HSBC Malaysia launches supply chain platform

Malaysia has launched Supply Chain Finance (HSCF) , an electronic that enables customers to upload approved invoices catering to basic file upload and host-to-host requirements.

In a statement today, it said via HSCF, customers could transmit approved invoices and payment files to the bank at any time and anywhere, thus, allowing for accelerated early payments to suppliers.

“Beyond speed, the platform provides suppliers with visibility into the status of buyer-approved invoices from HSBC, even if the supplier is not a direct HSBC customer,” it said.

The bank said HSCF was the latest addition to its suite of digital trade capabilities, which would help support the nation’s aspiration for Malaysian small and medium-sized enterprises (SMEs) to make up 41% of the country’s gross domestic product by 2020.

HSBC Malaysia country head of commercial banking Andrew Sill said HSCF platform demonstrated the bank’s commitment to meet customers’ demands in its ever-evolving digital era where convenience, speed and flexibility were the new norms.

“We are always looking for new ways to leverage technology to provide our customers with digital products and services that are simple, convenient and secure,” he said.

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