By Sharon Chang
HSBC Malaysia scores big with its first live Omni Channel partnership with Sports Direc MST Sdn Bhd (Sports Direct) to deliver a “one-stop” collections solution to increase efficiencies for businesses.
The bank said the Omni Channel is a “one-stop” collections solution which combines services of their partner GHL System Berhad, one of the top ASEAN payment service providers, and HSBC’s innovative product development.
Andrew Sill, the Country Head of Commercial Banking, HSBC Malaysia, said that with the launch of Omni Channel, they are now able to offer clients a seamless process to enable businesses to gain operational and financial efficiencies by providing a service designed to simplify and streamline the way businesses collect payments.
“We recognise the need to support our clients with cutting edge digital solutions and we have been consistently investing in our award winning cash management business,” he added.
According to Sill, the Omni Channel allows HSBC clients to provide multiple payment options to their customers, and gives them a comprehensive view of their payment collections across different channels including bank transfers, credit and debit card payments.
Furthermore, Sill also said that supporting both in-store and online purchases, payments are consolidated into one centralised account which will reduce paperwork and boosts working capital for clients, enhancing their own customers’ experience and improving their risk-weighted returns – an all-round win.
HSBC Malaysia said the implementation of HSBC’s Omni Channel with GHL Group will considerably speed confirmation from banks and e-wallet providers, and with Application Programing Interface (API) integration helps simplify the reconciliation process by reducing human error and time consumed to generate reports.
The reports can be delivered via multiple channels to Sports Direct such as email, HSBCnet and HSBC Connect/ FileAct, hence allowing processing of larger volumes of incoming payments from various sources with enhanced accuracy and precision.
Meanwhile, Paul Gibbons, Managing Director of Sports Direct, commented that the solution that HSBC offered to Sports Direct is a comprehensive one, which enables their business to adopt a single interface point for payment acceptance.
“This covers both traditional and digital payments (cards, e-wallets) through a single window thereby reducing the number of touch points in this ecosystem, and this places us well, in terms of gaining efficiencies, time to market and providing customer satisfaction,” Gibbons said.
This successful transaction is a key breakthrough for Sports Direct, which forms part of its plan to deliver an unrivalled customer experience at every step of the journey from the quality of products up to the elevation of their new generation of retail stores.
“We believe that we can support our clients by supporting their customers and Omni Channel is a testament to that,” Sill concluded.