On 10th January 2019, HSBC Malaysia launched the HSBCnet Trade Transaction Tracker, a pre-logon service in the HSBCnet Mobile app for customers to track the real-time status of trade transactions more quickly and easily. This innovative new mobile banking app that puts exporters and importers in Malaysia at the leading edge of the digital capabilities in tracking international trade transactions, is the first of its kind in Malaysia.
Andrew Sill, Country Head of Commercial Banking, HSBC Malaysia said, “At HSBC, we continue to leverage on technology and innovation to provide customers with digital products and services that are simple, convenient and secure. The HSBCnet Trade Transaction Tracker is an innovative mobile tool that allows businesses to better manage their global trade flows. Thus far, the application has gone live in 24 countries and has received favourable feedback from many of our clients.”
“Entrepreneurs and managers use mobile phones to run international businesses today and we know how important it is for them to keep track of their transactions along the supply chain in order to maintain their competitiveness. The HSBCnet Trade Transaction Tracker meets our customer’s expectations for mobile banking and their need for real time, global information. It will provide them with a real-time view of their import and export documentary credits, collections, guarantees and trade loans across markets and countries worldwide in one single app,” added Andrew.
The service is available to all trade customers registered for Instant@dvice and no HSBCnet registration is required. Customers using iPhones or Android devices can download the latest version of the HSBCnet Mobile app from the Apple Store or Google Play™.
To set up, customers can click on HSBCnet Trade Transaction Tracker and enter their HSBC Trade Account number, Instant@dvice email address and Bill or Documentary Credit (DC) reference number. Then enter the confirmation code which is sent to the Instant@dvice email address. Once the registration is set up successfully, customers can view the status of transactions e.g. “Issued”, “Amended”, “Accepted”, “Paid” and so on.
Commenting on the new digital service, Ajay Sharma Regional Head of Global Trade and Receivables Finance (GTRF), HSBC Asia Pacific, said: “The HSBCnet Trade Transaction Tracker is another step on our digital journey and is the latest addition to HSBC’s award winning electronic banking platform for corporates. This new digital service is essential to help customers manage their trade banking activities more efficiently. We are delighted that customers in Malaysia will get a unique digital application that allows them to view the status of all trade transactions with HSBC worldwide in one simple window.”
HSBC is committed to driving digital innovation to meet customer’s changing demands. 2018 was the year where we demonstrated that blockchain as a solution for trade digitisation, is operationally and commercially viable. The setup of Voltron, the integration of e-Bills of Ladings (eBLs), connecting eTradeConnect (HK) and We.Trade (Europe), along with We.Trade’s rollout ambition in Europe shows HSBC’s enthusiasm and commitment to trade digitisation.
In Malaysia, corporates can submit trade transaction application via HSBCnet - Internet Trade Services (ITS) modules. In addition, corporates can also connect to HSBC using tailored SWIFT-for-Corporates solution to transact. The HSBCnet Trade Transaction Tracker complements and enhances our current digital capabilities.
Trade has been at the foundation of HSBC for over 150 years. Being a leading provider of international trade and supply chain finance for businesses of all sizes, the Bank provides access to 90% of global trade flows. This year, HSBC was also awarded several trade awards namely the Best Service Provider-Trade Finance Malaysia by The Asset Triple A Treasury, Trade, Supply Chain and Risk Management Awards 2018, Best Islamic Trade Finance Bank - Malaysia by The Asset Triple A Islamic Finance Awards 2018, Top Global Trade Finance Bank by Euromoney Trade Finance Survey 2018 and the Best Bank in Trade Finance by the Banker Transaction Banking Awards 2018.