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HSBC Vietnam guides enterprises into uncharted digital waters

Released at: 18:01, 19/10/2017

HSBC Vietnam guides enterprises into uncharted digital waters

Illustrative image (Source: hsbc.com.vn)

HSBC Global Liquidity and Cash Management Seminar on October 17 in HCMC presented updated analysis from specialists at respected consulting companies.

by Quang Huy

Themed “Leveraging Technology for Business Transformation”, the HSBC Global Liquidity and Cash Management Seminar on October 17 in Ho Chi Minh City aimed to provide corporates with the most up to date analysis from specialists at respected consulting companies.

Keynote speakers from KPMG, a provider of advisory services and industry insight to organizations, and SAP Asia, a provider of business transformation, digital innovation, and enterprise resources planning (ERP) solutions, joined HSBC specialists to focus on how digital technologies are transforming the world of business and how banks can help businesses not only control this transformation but also create a competitive edge through ERP and technology.

While digital technologies create an exciting range of capabilities and possibilities, enterprises today often have more questions than answers. “There is huge demand for knowledge right across the corporate sector,” said Mr. Winfield Wong, Country Head of Wholesale Banking at HSBC Vietnam. “Companies wish to better understand the enterprise architecture of this new digital world so they can apply the right solutions in the right way to maximize return on investment and exploit opportunities as they arise.”

“The convergence of rising consumer expectations, evolving business models, and a blurring of long-standing industry boundaries has led to an erosion in the relevance and sustainability of traditional operating models,” according to Mr. Dhiren Doshi from Industries and Digital Leadership at SAP Asia. “Companies - big and small - are being pushed to re-evaluate their strategies in light of exciting new technologies that can level the playing field while providing disproportionate advantage to disruptors and early movers.”

Ms. Hanh Nguyen, Country Head of Global Liquidity and Cash Management at HSBC Vietnam, offered insights into the opportunities and challenges Vietnam now faces, what the implications for corporates in the country are and will be in this digitalization process, and how enterprises can negotiate a rapidly changing payment landscape, during her presentation “A Future Where Cash is Mobile?” 

“In a cash-centric society such as Vietnam, the digitalized future will transform payment systems in a dramatic fashion,” she told the gathering. “The payment ecosystem is already evolving with cards and online payments and ultimately we are on a path that will lead us to a cashless economy.”

As a partner of businesses, HSBC plays a key advisory role to clients by seeking optimal solutions in ERP and technology. To meet the specific needs of each stage of business operations, HSBC provides a wide range of solutions, from efficient banking instruments, automation functions in ERP, and e-banking platforms, to more sophisticated solutions like SWIFT connectivity and other treasury solutions.

In Vietnam, HSBC has been one of the pioneers in digital solutions and financial technologies. This year, the bank unveiled HSBCnet Touch ID and a digital platform for customs payments. This follows a partnership with the Department of Taxation to launch an online tax payment platform in December 2015.

“We are leading the way for online and mobile banking and in the future we will continue to innovate and introduce more digital solutions for our corporate clients,” said Mr. Jason Tan, Regional Head of Client Management, Global Liquidity and Cash Management at HSBC. “HSBC strives to stay ahead of the curve so we can guide our clients as they travel into these uncharted digital waters.”

HSBC was named the Best Domestic Cash Manager in Vietnam in the Euromoney Cash Management Survey 2017. This was the eighth year in a row it was voted by clients as being the best cash management bank in Vietnam. 

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