To secure ArabyAds’ mandate, HSBC proposed a holistic and cost-effective payment solution that not only simplified both international and local payment disbursements but also enhanced the company’s working capital.
One key part of HSBC’s tailored solution – which was a result of the close collaboration of several teams across MENAT and UK – was the centralisation of influencer payments to streamline ArabyAds’ end-to-end payment process.
Using HSBC’s Global Disbursements, the company can now make international payments to influencers across the GCC from a single currency account, which will disburse to more than seven currencies.
That also included the benefit of a massive 92% decrease in cross-border fees and simplified payments submission besides enhancing reconciliation from a single debit account with multiple reports available in the global disbursement engine.
HSBC leveraged its artificial intelligence and machine learning capabilities to make payments to individuals rather than corporates, supplemented by additional whitelisting using payments data post-implementation to ensure a positive client experience.
Global Disbursement is a comprehensive and sophisticated cross-border payment solution to pay beneficiaries around the world in 130 currencies and up to 175 countries from one single bank account that reduces costs, minimises risk, and improves transparency.
Moreover, the use of the HSBC Virtual Card solution provided a secure way of generating one-time use cards, helping to significantly reduce transfer fees incurred when making payments to social media platforms.
Additionally, HSBC Virtual Card provided an extended credit period of up to 60 days, up from the previous 45 days, which further improves the client’s operational working capital.
Streamlined secure payments
With HSBC’s comprehensive payment and reconciliation solution, which brings a highly secured, flexible, and streamlined payment process, ArabyAds is poised to benefit from enhanced reporting through Global Disbursement and virtual credit cards.
Full payments and receivables will be performed via a single HSBC net banking platform, centralising treasury operations.
“What we have delivered to ArabyAds is simplicity, efficiency, cost reduction, centralisation and seamless cross-border payments and the company will also be able to leverage HSBC’s international network for their future growth plans,” says Charbel S. Bacha, senior vice president, technology, and the new economies, global payments solutions at HSBC.
“This is a great example of an all-inclusive solution matching client’s needs, showing how we can integrate our products to enhance existing client payables,” says Amir Tantawi, Relationship Manager, corporate banking at HSBC.
HSBC has also dedicated account and service managers who are looking into the company’s payment flows and processing to make sure that everything goes smoothly.