• Linkdin

Bangladeshi apparel maker Babylon migrates payments onto HSBC platform

13 May '21
2 min read
Pic: Farzand01 / Shutterstock.com
Pic: Farzand01 / Shutterstock.com

Bangladesh-based apparel manufacturer Babylon Group has entered into an agreement with the Hongkong and Shanghai Banking Corporation Limited (HSBC) to migrate its payments onto HSBCnet, the online platform of the bank. The platform will be used by the company for making all local payments including salaries and vendor payments without manual intervention.

The solution designed to eliminate paper-based instructions, enables easy authorisations of transactions and offers greater transparency across payments cycle, Bangladeshi media reports said quoting a joint press release.

The bank has also offered facilities like remote printing for cheques and cheque outsourcing services to enable same-day handover and faster payments.

“The arrangement has brought significant improvement in our payment management and helped in sending worker payments to Mobile Financial Services (MFS) accounts on the same date of processing. HSBC’s cheque outsourcing services are also helping us a lot for making supplier payments from different locations in seamless manner that improved turnaround time during the pandemic,” said Abdus Salam Sikder, director of Babylon Group.

“Digitisation and the fast adoption of technologies continue to be critical for sectors that are vital, such as garments, the largest sector in Bangladesh. HSBC is developing and deploying some of the industry’s most advanced and innovative technology to make banking easier and more secure for our customers,” said Kevin Green, head of wholesale banking, HSBC Bangladesh.

Fibre2Fashion News Desk (KD)

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search