HSBC, MAS broadens connectivity through SAP

HSBC Sri Lanka and MAS Intimates have collaborated to implement the next generation of host to host connectivity, HSBC Connect to SAP.

The new solution will help MAS Intimates; the Intimates apparel Division of MAS Holdings, experience robust two-way connectivity directly with the bank from the deployed SAP system, making it the first strategic partnership for HSBC in Sri Lanka.

This new solution whilst enabling two-way corporate-to-bank connectivity, also provides automatic reconciliation with the company’s internal SAP systems which is designed to work with SAP’s Process Integration (PI) architecture.

As the most commonly-used SAP module for mid to large sized SAP customers, the PI interface allows customers to leverage their SAP investment by connecting the organisation’s systems directly with HSBC.

Key features of the solution include, streamlined payments and improved efficiency with Straight Through Processing (STP), automatic reconciliation with the internal SAP systems based on MT 940 messaging standard, reduced operational risk, standardized information flow from systems using the XML based ISO 20022 messaging standard and robust security features for encrypting and transmitting data.

This is a SAP-certified solution powered by SAP NetWeaver platform.

Chamira Wijetilleke, Head for Corporate Banking HSBC Sri Lanka said, “The SAP Process Integration (PI) infrastructure has emerged as a mature, stable platform of choice for multinational SAP customers worldwide.

We see more and more, corporates looking to integrate internal Enterprise Resource Planning (ERP) systems with their banking partners on a much deeper level.

Thus, we are happy to have partnered with MAS Intimates, in offering a world renowned solution in making simpler automation of payments.”

Nalinde Jayasekara , Financial Director, MAS Intimates stated, “MAS Intimates has held long standing business ties with HSBC and having evaluated the capabilities of various potential banking partners, we found our strategic fit with them.

We found that the HSBC Connect to SAP solution, which provides seamless integration between HSBC’s host-to-host system and our SAP solution, would be an efficient way of leveraging our existing investment in SAP.

Also, with the conversion from SAP IDOC to XML-based ISO 20022 payment formats, HSBC Connect to SAP allows enriched data and consistency across our locations.

The solution requires less IT support that helps to further reduce costs and the time on manual processes to send payments and retrieve data.

Therefore, our staff would have more time to dedicate to other value-added activities and hence our decision to collaborate with HSBC.”

HSBC Global Payments and Cash Management offers a set of innovative solutions specially designed for companies who use ERP systems to seamlessly connect with the bank to facilitate all payments and receivables.