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MUMBAI: HSBC India on Wednesday launched HSBC UniTransact, a digital proposition aimed at simplifying cross-border transactions.

The offering is a one-stop solution, bringing clients the benefit of seamless integration of all aspects of transaction banking while minimiing manual intervention through the course of the transaction journey, the bank said.

Given the complexities of international trade and cross-border transactions, HSBC UniTransact is aimed at streamlining the various processes involved for clients, it said. By digitising all the steps of a transaction, it enables end-to-end visibility of these transactions to clients and also addresses the challenges of having to deal with multiple touch points across different teams for each transaction.

According to HSBC India, it provides a summary of all cross border transactions to be processed, for goods and services; inwards as well as outwards; detailed real time status throughout the life-cycle of all the cross border transactions; two-way communication with clients to seek clarifications and additional information to take transactions to closure; ability for clients to upload, store and retrieve documents for transactions; customized alerts for actions required or completed to keep clients updated on the status of their transactions at all times and a single platform for direct as well as automated FX execution via different FX engines and utilization of forward contracts.

Hitendra Dave, general manager and chief executive of HSBC India, said, “HSBC UniTransact is the latest reflection of our ongoing commitment to enhance client experience via various digital initiatives. The launch of ‘HSBC UniTransact’ is aimed at unifying all the processes and interactions for our clients in any cross-border transaction journey."

From reducing the number of touchpoints they need to go through, to providing them end-to-end visibility of each transaction, the bank is confident that UniTransact will create a truly unique world class user experience for our clients, said Dave.

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