HSBC launches online trade services

Small to medium companies can now open letters of credit and track trade transactions across the web.

HSBC has become the latest bank to endorse the internet evolution by adding trade services to its four-month-old Business Internet Banking platform. After a trial involving 100 of its SME customers, the service was launched in Hong Kong this week, with other countries to follow, such as Singapore later this month.

In its first phase, the trade components of the business platform allow clients to open letters of credit or documentary credits DC as HSBC refers to them and track the progress of their trade transactions. The trade services have been added as another menu item on HSBC's internet platform which was launched in August with a series of cash management functionalities. Since its...

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