The Hongkong and Shanghai Banking Corporation Limited and Hirdaramani Group in Chattogram, Bangladesh have recently signed an agreement to offer Host to Host payments solutions for Hirdaramani Group Bangladesh, one of the largest RMG in the country.
This digital service will enable Hirdaramani Group to process a variety of payments directly from their ERP (Enterprise Resource Planning) system and will provide greater financial flexibility for payments and reconciliation, which will meet their increasingly sophisticated business needs.
In the apparel sector, Hirdaramani Group (HG) is one of the top garment manufacturers in Asia with proven track record in producing knitted and woven apparels for worldwide clothing brands since 1892.
The agreement between the two organizations was signed recently.
Gerard Haughey, Country Head of Wholesale Banking, HSBC Bangladesh and Aroon Hirdaramani, director, Hirdaramani Group signed the agreement on behalf of their respective organizations.
Along with them Stuart Rogers, Regional Head of International Markets, Commercial Banking, Asia Pacific, HSBC, Manoj Dugar, Regional Co-Head, Global Payments Solutions, Asia Pacific, HSBC and other senior officials from HSBC Bangladesh have attended the agreement signing ceremony.
HSBC’s state of art H2H solution is a fully automated single interface offering a wide range of HSBC banking services.
The widely compatible solution can be fully integrated with clients’ existing industry standard ERPs to further streamline work processes.
The integration improves straight-through processing capabilities and automates client’s reconciliation and treasury activities.
Aroon Hirdaramani, director, Hirdaramani Group stated: “As an organization, Hirdaramani has been accelerating its journey towards becoming future-ready and agile in offering the best apparel solutions to our customers worldwide. Innovative digitized solutions such as HSBC’s Host-to-Host facility have proven beneficial in ensuring faster and efficient transactions through one single platform, allowing us to focus on the business amid a fast-paced industry landscape.”
Manoj Dugar, regional co-head, global payments solutions, Asia Pacific, HSBC commented: “At HSBC, we are digitizing at scale across our international network using technology to create excellent customer experiences, to make HSBC more efficient, and to open up new growth opportunities."
Gerard Haughey, country head of wholesale banking, HSBC Bangladesh said: “Customers’ expectations and technology requirements are evolving at speed, so we work in agile, customer-focused, cross-functional teams to test, learn and launch new products and features at a faster pace. The journey towards fully optimized cash management has a number of steps, which can each provide additional benefits to Treasurers."
