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Editorial Viewpoint Quick Response, Thoughtful Support |
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Spotlight On Peregrin Services Corporation |
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Spotlight On HSBC Bank USA, N.A. |
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COVER STORY Expanding Menu of Network Services Adds Exciting Options for Our... |
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NEWS REPORT Bankruptcy Reform Legislation Spurs DMP File Changes... |
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NEWS REPORT HSBC Dramatically Expands Electronic Volume in Retail Lockbox |
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NEWS REPORT Advertorial Aims to Raise Biller Awareness about Electronic Payments |
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NEWS REPORT New Program Takes Educational Approach to Selling the MasterCard RPPS... |
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INDUSTRY INSIGHTS Q&A with Gwenn Bézard |
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SPOTLIGHT ON 
HSBC Bank USA, N.A. |
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 One of the 10 largest financial services organizations in the United States, HSBC Bank USA, N.A. (HSBC), has made a longterm commitment to the global payments and cash management business in a way that provides maximum efficiency, reliability, and stability to its worldwide client base. Held by HSBC North America Holdings, Inc., the organization offers a wide array of cash management products and services—from traditional commercial payment and collection processing to innovative e-enabled solutions—designed to address the needs and challenges of treasury centers today and in the future. To create value for its clients, HSBC delivers high-quality wholesale and retail lockbox solutions through the MasterCard RPPS network. HSBC has been working with MasterCard RPPS for a number of years, using the network to deliver comprehensive lockbox solutions to its customers. Electronic payments for all "Delivering our lockbox services through the MasterCard RPPS network adds great value for our clients," says Cheryl Gurz, collections product manager, Global Payments and Cash Management, HSBC. "Information can be delivered to our clients much quicker. Collection and transaction costs are also lowered dramatically." HSBC first worked through the MasterCard RPPS network to deliver payments to its own large credit card, mortgage, auto leasing, and consumer finance portfolios. Finding that it reduced costs and enhanced productivity, which benefited its clients, HSBC extended the use of the network to other businesses. While HSBC's large portfolios and its external billers are already connected to the MasterCard RPPS network, the bank now actively promotes, with significant success, the benefits HSBC can bring to its medium-size and small billers via the MasterCard RPPS network connection. (See related News Report.) Delivering more Functioning as a consultant in its dealings with corporate cash management clients, HSBC prides itself on listening to the client's needs and packaging tailored solutions from its suite of products and services. "We work to come up with a solution that is right for a particular client," says Gurz, "and we're always looking at ways to create efficiencies and streamline workflow for our clients." One avenue that will help HSBC do that, Gurz believes, is intra-day payment information. "We expect to work closely with MasterCard RPPS on this in the coming year," she says. "Our clients tell us they want to receive their payment information as soon as it comes in so they can post payments faster. If they know a payment has been received, for example, they can adjust their collections calling pattern accordingly." In addition, Gurz notes, intra-day payment information gives billers a tool for predicting cash flow, which puts them in a better position to make investment decisions for their working capital. Tapping the data A valuable part of the HSBC lockbox services is the delivery of payment information that can enrich clients' understanding about cash availability, cash flow, payment sources, and more—and help them run their businesses more effectively. "HSBC is working with MasterCard RPPS to extract the rich microdata carried in its files so we can warehouse that data and give our clients the ability to tap into that information," says Gurz. "It's a value-add service because the information is not readily available to our clients otherwise." Working with MasterCard RPPS According to Tom Carey at MasterCard RPPS, "The direction that HSBC is moving in is right in line with our product strategy. We are focused on increasing our solution options regarding speed of delivery and settlement. It's part of our commitment to being a better business partner. "We work hard to understand our customers' goals, and we invest time and resources into helping them grow their businesses," he adds. "For HSBC," says Gurz, "MasterCard RPPS is a key network to help us deliver fast, effective, and efficient solutions that benefit our clients." 
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