HSBC Hong Kong unveils HSBC Smart Solution API platform

By Edil Corneille

HSBC Hong Kong unveiled its business management API (Application Programming Interface) platform – HSBC Smart Solution – specially designed for small and medium enterprises (SMEs) in the region.

HSBC Smart Solution integrates the HSBC Business Internet Banking (BIB) platform’s real-time bank account data with multiple third party business management applications through APIs, providing a single cloud platform that enables SMEs to obtain latest insights into their cashflow and business health status, automate daily workflows, and streamline operations.

All HSBC BIB users in Hong Kong will be able to log on to the platform with their BIB user name and password.

As part of the bank’s collaboration with Microsoft Hong Kong, Microsoft Dynamics 365 Business Central, an Enterprise Resource Planning (ERP) tool, has been integrated into the HSBC Smart Solution, giving SMEs a clear overview of their operations and seamless payment management.

Terence Chiu, Head of Commercial Banking, Hong Kong, HSBC said, “As a close partner of the business community, we want to go beyond banking to support businesses through continuous digital innovation and collaboration with different parties in the business ecosystem. We understand that small businesses may not always have the resources to invest in the best tools to manage routine operational tasks. As our latest market’s first digital initiative, HSBC Smart Solution serves as a simple and effective way for businesses to integrate data and workflows from multiple systems in a one-stop platform, allowing them to focus on what’s important for their business journey.”

Cally Chan, General Manager of Microsoft Hong Kong and Macau said, “To thrive in the new normal, businesses of all sizes need to be fast-adopters of modern technologies to optimise their operations and increase business efficiency. Through our collaboration with HSBC, we aim to empower Hong Kong SMEs with an integrated, secure business management tool with Microsoft Dynamics 365 Business Central so they are able to unleash new business possibilities with enhanced business efficiency and actionable insights. Microsoft is committed to supporting local SMEs to deploy and adopt new technologies to reimagine the new normal.”

The Toolbox feature of the solution can link business data from multiple apps to one single platform to automate business processes. Analysed bank account data can be viewed through the Dashboard and it can be visualised in graphs and charts.

HSBC will continue to build in new functionalities and integrate with different third party applications on Smart Solution in future, in order to support other operational needs.

HSBC will also deepen its collaboration with Microsoft Hong Kong to organise webinars on HSBC’s digital community platform VisionGo to share insights on tech trends like Open API, or practical advice on driving business recovery amid the pandemic.