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HSBC unveils its new payments management system HSBC Global transaction Banking launched its new 'Managed Payments Service (MPS)' for corporate clients to help them outsource key elements of payments activities, connectivity and data integration. Financial institutions and large corporate customers that seek to pursue an in-house bank or payment factory strategy will be provided with a flexible, multi-bank proposition over the SWIFT network. HSBC's Managed Payments Service allows treasurers to manage cash flow efficiently, improve their security and internal audit controls, and simplify their reconciliation and risk management. The new product enables a variety of connectivity options within a secure environment, which will easily connect with an institution's own systems. As a managed service, it utilises third party technology and data hosting, ensuring privacy around a customer's data. The Managed Payments Service offers a multi-bank proposition via the SWIFT network and plugs into the HSBC global clearing network with automated linkages to the various payment and clearing systems. Among other things the solution also offers these services: * data capture and transformation, allowing for straight through processing * account level intraday reconciliation, improving efficiency and exception management * anti-money laundering (AML) screening, and the operational tools to facilitate internal AML management * access to a SWIFT service bureau for day-to-day management * technical consultancy to implement the service within a customer's business http://ecommerce-journal.com/news/30171_hsbc-unveils-its-new-payments-management-system LR: U0598112
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