LafargeHolcim joins hand with HSBC in payments automation

The Hongkong and Shanghai Banking Corporation (HSBC) recently implemented a host-to-host connectivity with LafargeHolcim Bangladesh by integrating their enterprise resource planning system with HSBC connect.

The HSBC's Bangladesh-based system integration, coupled with a wide range of payment products, will help the LafargeHolcim disburse its commercial and statutory payments and reduce cost, potential manual errors and other operation risks, says a press release.

Leveraging this host-to-host connectivity, the LafargeHolcim will now be able to initiate all kinds of local disbursements over an encrypted network and also allow fully automated file transfer to and from the HSBC along with account reporting and statement delivery.

"LHBL was looking for an STP 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," said Rajesh Surana, CEO of the LafargeHolcim.

"HSBC came up with host-to-host style (fully automated) file transfer solution interfacing with LHBL ERP (SAP), supporting BEFTN, RTGS, HSBC to HSBC fund transfer transactions and our demand was fully met. Now with a single connection between LHBL 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," he 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," said Md Mahbub ur Rahman, CEO of HSBC Bangladesh.