HSBC Singapore Rolls Out Dart Platform for Corporates
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The bank’s new online platform for corporate customers simplifies receivables collection and improves transparency and monitoring capabilities.
HSBC Singapore is launching another digital solution for corporate customers – Dart, or the Digital Accounts Receivables Tool, which connects businesses to their customers by enabling the exchange of invoice and payment information, the bank said in a statement on Tuesday.
According to the bank, receivables reconciliation remains a key challenge for treasury functions that receive and process large volumes of payments on a daily basis, particularly when identifying payers and matching with invoices.
Supply chain resilience has become synonymous with digitization, and the receivables reconciliation process is a prime candidate for transformation, Winnie Yap, HSBC Singapore head of global liquidity and cash management, said.
Digital Capabilities
HSBC has rolled out a number of digitally-driven solutions for its corporate customers in recent months, including a multi-currency digital wallet for corporate customers, Omni Collect – a one-stop digital solution for all payment collections needs.
The bank said it will progressively widen the capabilities available on Dart, as it optimizes its digital services to support customers.
Questions & Answers
Q.What is Dart and what problem does it aim to solve for businesses?
What is Dart and what problem does it aim to solve for businesses?
Dart, or the Digital Accounts Receivables Tool, is an online platform that simplifies receivables collection for corporate customers. It addresses the challenge of identifying payers and matching invoices when processing large volumes of payments.
Q.Who developed the Dart platform and for what type of customers is it intended?
Who developed the Dart platform and for what type of customers is it intended?
HSBC Singapore developed the Dart platform. It is intended for their corporate customers, providing them with a digital solution for managing accounts receivables.
Q.How does Dart connect businesses with their customers?
How does Dart connect businesses with their customers?
Dart connects businesses to their customers by enabling the exchange of invoice and payment information between them. This helps to improve transparency and monitoring of receivables.
Q.Has HSBC Singapore launched other digital solutions for its corporate customers recently?
Has HSBC Singapore launched other digital solutions for its corporate customers recently?
Yes, HSBC Singapore has rolled out other digital solutions in recent months. These include a multi-currency digital wallet and Omni Collect, a one-stop digital solution for all payment collection needs.
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