The MEDICI Team had the pleasure of interviewing Divyesh Dalal, Managing Director & Country Head Global Liquidity and Cash Management - HSBC India, about HSBC’s new innovation program ‘HSBC Edge.’\ \ 1. What is the purpose behind HSBC Edge?
An International Data Corporation (IDC) study predicts that as much as 60% of India’s GDP will be derived from digital products or services by 2021. We are seeing our corporate clients rapidly embarking on the digital journey across areas from how they sell products, to how they engage with their suppliers. We want to be at the forefront of this digital transformation and help our corporate clients stay ahead of the curve when it comes to making and collecting payments, thereby enabling them to sell more and make payments more efficiently. The FinTech and startup ecosystem is buzzing with innovation. With HSBC Edge, we are looking to tap this innovation ecosystem and partner with startups & FinTechs to develop solutions for a set of identified problems.
2. Could you provide a few examples of digital solutions provided by HSBC to its corporate clients?
Our digital solutions for our corporate clients are built to enable a seamless experience for our client’s end-customers. Customers of one of the largest telecom operators in India can now make mobile bill payments effortlessly using the Unified Payments Interface (UPI), thereby reducing the use of cash. Other UPI-based digital payment solutions include movie ticket purchases at a cinema chain, airline ticket purchases, etc. On the payments front, our smart routing solution – built using the IMPS and NEFT rails – has enabled one of the largest microfinance Institutions in the country make instant loan disbursals to its customers, many of
