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HSBC launches automated reconciliation product
HSBC has launched a receivables reconciliation product for FMCG clients. The British bank is targeting pharma and insurance clients with a similar payments profile next.
HSBC has launched an automated receivables reconciliation (ARR) product geared for fast moving consumer goods (FMCG) clients in Asia-Pacific.
In a bid to speed up the application of cash received, the product is designed to automate the reconciliation of incoming payment advice details against outstanding invoice records. ARR is designed to accept, read and reconcile multiple formats of remittance advice from multiple customers automatically against the beneficiary's open invoice records.
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