The Hongkong and Shanghai Banking Corporation Limited in Bangladesh has launched instant (real-time) collection function for its customers.

As part of bank’s focus on continuous innovation, the real-time collection enablement will greatly enhance the customer experience and deliver on the bank’s promise to make banking simpler, safer and smarter.

Instant (real-time) collection has been developed with the support from the National Payments Switch of Bangladesh (NPSB), facilitated by the central bank of the country, said a media release on Sunday.

Kevin Green, Country Head of Wholesale Banking, HSBC Bangladesh said, “Our digital transformation brings along a host of benefits for our customers and their supply chains.”

The ability to receive payments in real time will reduce administrative time in accounts receivable reconciliation and help the customers to increase productivity and manage their cash flow more efficiently, Kevin Green added.