HSBC to facilitate streamlined digital payment system for Ha-Meem Group

The Hongkong and Shanghai Banking Corporation Limited (HSBC) has recently signed an agreement with Ha-Meem Group, one of the country's top readymade garments manufacturers, to process their transactions through online platform HSBCnet.

The agreement signing took place at Ha-Meem's corporate office in the presence of Stuart Rogers, regional head of International Markets, Commercial Banking, Asia-Pacific, HSBC; Ian Tandy, co-head of Global Trade and Receivables Finance Asia-Pacific, HSBC; A K Azad, managing director of Ha-Meem Group, and officials from both of the organisations, according to a press release issued yesterday.

As part of the agreement, HSBC will facilitate a streamlined payment system for Ha-Meem, enabling the efficient handling of payments to multiple vendors through a consolidated file upload.

The entire process can be seamlessly managed online, enabling Ha-Meem to experience substantial time savings in payments processing and transactions without bank visits, leading to greater efficiency and reduced errors. The process will also help reduce  paper usage for payment instructions, benefiting the environment.

In this regard Ha-Meem Group Managing Director AK Azad said, "Ha-Meem aims to cross the $1Billion  mark of export turnover within a short span of time and digital innovation will play a key role in this feat."

He appreciated HSBC's partnership towards their digital transformation and expects to get further support that will be fit for Ha-Meem's growth avenue.

Stuart Rogers, regional head of International Markets, Commercial Banking, Asia-Pacific, said, "Digital Transformation remains a C-suite issue. At HSBC, we are committed to introducing innovative solutions to  cater to the evolving needs of our esteemed customers.  

"We firmly believe that this partnership will prove to be mutually beneficial and we will continue to provide unwavering support to  Ha-Meem Group throughout their digital journey."

Gerard Haughey, country head of Wholesale Banking, HSBC Bangladesh, said, "In partnership with regulators and customers, HSBC Bangladesh has remained at the forefront of driving ground breaking financial solutions, achieving notable milestones in  the country.

"Our expertise in rolling out statutory payments such as duty, VAT, VDS, and digital fund pulling facilities like DDI, empowers our customers to open up a world of opportunity. Our commitment lies in ensuring smooth, smart and more secure digital banking solutions to Ha-Meem Group, by blending the power of technology with the expertise of our colleagues."

HSBCnet is an innovative and unique online banking platform and offers a fast, simple and secure way to run businesses. The solution eliminates the paper-based instructions typically required to process local payments, allowing clients to authorise transactions seamlessly – including via mobile application.

With robust security and audit trail features, HSBCnet effectively supports clients to achieve faster banking turnaround times, reduced costs and greater transparency across the payments cycle. HSBC's platform also supports online trade processing and transactions that helps its clients for further efficiency in trade operations.