HSBC adds mobile functionality to payments platform

HSBC has seen a spike in demand for outsourved payment services

HSBC has added mobile banking to its managed payments service (MPS) platform, aimed at third-party banks and corporate customers.

The technology, provided by Petra Financial, will be added to its MPS platform, which offers transactional banking, multi-bank connectivity and data integration capabilities as a single outsourced service.

The mobile banking functionality is intended to allow users such as corporate clients and high-net-worth individuals to simply manage cash flows, view statements and monitor transactions.

According to HSBC, the investment in the MPS platform comes as a response to increasing demand for its outsourced payment services.

"The economic landscape has drawn many banks to the conclusion that it is no longer cost effective to own and operate every component in transaction processing," said Paul Nixon, Europe senior product manager, financial institutions, global payments and cash management at HSBC.

"When these financial institutions look for trusted partners who can help them, HSBC stands tall as a partner, and technology provider,” said Nixon.

“We are able to bring together the technology, the people, and the expertise to deliver payments solutions, with a relentless focus on reliability and innovation."