HSBC has launched Digital Accounts Receivable Tool (HSBC DART) built on Identitii’s tokenisation technology to create a tool for India-based corporate clients, Identitii announced in a press release. HSBC is planning to launch the project in new Asian markets for its corporate clients, the project will provide them with a “secured digital information exchange channel and ecosystem.” The next phase of the project will see new functionalities added to HSBC DART to facilitate rolling it out in other geographies.
The tool integrates with receivables technology infrastructure already in place, providing a secure way of sending information associated with payments. The technology allows automating the accounts receivable process.
“HSBC has a commitment to innovation and to finding the best ways to constantly enhance the service we provide to our clients. Developing HSBC DART with Identitii has helped us solve a key pain point in receivables by digitising the client experience and creating an ecosystem where our clients and their customers connect to improve efficiency through the secure exchange of information,” said Nicholas Soo, Head of Payment Products, Asia-Pacific, HSBC.