HSBC deploys City Networks module for Middle East treasury operations
15 July 2003 | 3842 views | 0
HSBC has implemented City Network's CityNet confirmation matching module (Tram) at its regional treasury operations in the Middle East.
The system has been deployed in partnership with City Networks' Middle Eastern distributor, Euro Banking Solutions, at HSBC's treasury operations regional office in Dubai and serves operations in Bahrain, Egypt, Jordan, Lebanon, Oman, Qatar and the UAE.
The Tram module replaces manual procedures where incoming Swift and Telex payment and confirmation messages were physically checked against information supplied by the bank's host system.
Jon Bowen, regional treasurer, HSBC Bank Middle East in Dubai, says: "The automation of this important process has significantly reduced the scope for human error, saving both time and cost."