HSBC has unveiled a new cash concentration tool designed to help its corporate customers automate in-country liquidity management across the full 7-day week.

The bank said that the move marks an “important step” towards its plans to help customers shift towards real-time treasury.

It went on to say that by consolidating positive and negative balances across various HSBC bank accounts into a single account, companies can "optimise liquidity, reduce borrowing costs and enhance financial flexibility".

The new tool will initially be launched in the UAE and Egypt, expanding to other major geographies later this year.

“As global businesses operate in an increasingly real-time environment, liquidity management must keep pace," said Manish Kohli, head of global payments solutions, HSBC. "HSBC’s seven-day cash concentration solution ensures that companies can optimise their working capital every day of the week, enhancing efficiency and financial flexibility, whilst taking the first step towards building a real-time treasury.”

HSBC recently announced that it plans to improve digital purchasing experiences for businesses by offering flexible payment options and financing tools at the point of sale.

The bank is partnering with global B2B payments and invoicing network TreviPay to roll out the new e-commerce trade solutions.

HSBC said that the move will help corporate customers facilitate sales and engage with new business buyers through receivables finance, invoice processing, and management and risk mitigation.

The new tools enable companies to embed access to trade credit for their buyers in online sales portals which are backed by the business buyers accessing financing options.

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