HSBC Connect

Freedom report

One barScore 5.2

HSBC Connect is ranked #42 of 70 in bank connectivity software on Freedom251.

Compared on bank connectivity software

Supported data types: payments; collections; account confirmations; reports; statements
Connection methods: host-to-host; FTPS; SFTP; HTTPS; PGP; AS2
Statement formats: ISO 20022 XML; EDIFACT; SWIFT; local in-country formats

Purpose: HSBC Connect is a host-to-host channel for managing large volumes of payables and receivables and financial data.
Payments: Businesses can submit multiple payment types and currencies in one file from a central treasury management station or ERP platform.
Automation: The service automates payment processes and transaction processing to reduce manual operations.
ERP connection: HSBC Connect links a customer's ERP system with HSBC account reporting and payment systems and returns confirmations, reports, statements, and other data to the ERP.
Formats: The service supports standard formats including ISO20022 XML, EDIFACT, SWIFT, and local in-country formats.
Data processing: HSBC says it validates, sorts, and routes transaction data submitted in a single file format.
Reporting: Detailed reporting provides transaction history and payment statuses.
Security: The page lists FTPS, SFTP, HTTPS, PGP, and AS2 among its security and encryption protocols.
Intended users: The service supports regional and global Treasury Centres and Shared Service Centres.
Support: The Help Hub is linked from the product page as a support resource.
Regulatory status: HSBC Innovation Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.
Pricing availability: The product page does not state a price or pricing plan.

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