The service by HSBC Global Transaction Banking allows customers to outsource key elements of payments activities, connectivity and data integration. Available initially to financial institutions and large corporate customers looking to pursue an in-house bank or payment factory strategy, the solution provides a flexible, multi-bank proposition over the SWIFT network.

At the public launch event for the HSBC Managed Payments Service at SIBOS in Amsterdam, Paul Nixon, HSBC Product Manager, Financial Institutions, Europe, stated "What we have done with MPS is to take transaction banking at its core, add a layer around connectivity which supports a multi-bank approach and also to build on that with a level of integration that takes straight-through-processing from the client to their bankers, not just HSBC."

Paul Nixon continued: "With the Managed Payments Service we are using technology professionals to provide these services on our behalf. Our friends at Simplex and Sterci provide the bureau service and applications which power MPS. Working with our professional vendor partners enables us to manage the Managed Payments Service as an all-embracing solution that is not HSBC-proprietary."

The Simplex/Sterci Global Transaction Platform delivers a fully integrated suite of business solutions and these will now be available through HSBC's Managed Payments Service. The Bank utilises a range of Simplex/Sterci software solutions within the MPS to handle message flows, complex transformation capabilities and automated reconciliation - delivering unparalleled rates of Straight Through Processing for MPS clients.

"With our history of market-leading innovation, working with HSBC to develop their global Managed Payments Service is a wonderful opportunity to extend the market for the Simplex/Sterci Global Transaction Platform and our best-in-breed business solutions," said Simplex Chief Executive Philip Walsh. "Simplex is proud of its achievements in working together with HSBC to implement MPS which represents a major evolution in the global transaction management landscape."