Saturday Nov 16, 2024
Saturday Nov 16, 2024
Tuesday, 30 June 2020 00:44 - - {{hitsCtrl.values.hits}}
Brandix was awarded the highest accolade under the ‘Best Liquidity and Investment Solution’ category at The Asset Triple A Awards 2020 for its global Interest Enhancement (IE) solution facilitated by HSBC.
The IE solution, effective across Australia, India, Hong Kong, Mauritius, Singapore, Sri Lanka, US and the UK, provides Brandix with an innovative and best-in-class solution to optimise its cash and interest yields globally within complex regulatory settings.
It also enables Brandix to increase visibility and control globally via a single banking platform for all payments and collections, including standardised processes for effective management. This transformation took place following the centralisation and setting up of Brandix’s Treasury hub, collections and trading arm in Singapore, during which HSBC played an integral role as the company’s consultative partner as well.
Brandix Head – Global Treasury Priyanke Perera said: “We are honoured to be recognised at The Asset Triple A Awards 2020 for our efforts towards excellence in operational efficiency and optimisation of cash through the IE solution. HSBC has been our trusted advisor for over twenty years now and has a good understanding of our financial infrastructure and requirements.
“When exploring the option for a flexible and scalable solution to meet our unique business model, HSBC provided us with a solution leveraging their global network, capabilities and technology to best suit our needs. As a result, we are better able to centralise liquidity globally across Asia Pacific, US and the UK with automated payments and reconciliation.”
HSBC Sri Lanka and Maldives Head of Wholesale Banking Stuart Rogers said: “Our warmest congratulations to Brandix on winning the highest accolade awarded by The Asset Triple A Award 2020 under the Best Liquidity and Investment Solution category.
“We are very proud of this global recognition and the role HSBC played in setting up of their treasury, collection and trading hub based out of Singapore, especially the IE (Interest Enhancement) solution for global liquidity requirements. This is a landmark achievement in our decades long partnership with Brandix. We look forward to working together for many years more, supporting them with the strength of our expertise and the backing of our global network.”
HSBC Singapore Head of International Subsidiary Banking, Commercial Banking Harish Venkatesan said: “Congratulations to Brandix for winning The Asset Triple A Best Liquidity and Investment Award. We continue to journey together with Brandix and work closely as Brandix’s operate its treasury hub, collections and trading arm in Singapore for operational efficiency.
“This is attestation to the strong strategic relationship between Brandix and HSBC, between Sri Lanka and Singapore corridor, to help Brandix across their operations on a global scale. With new developments in the treasury digital space and cash optimisation, Brandix would reap greater benefits from their automated liquidity management solution.”
Interest Enhancement (IE) has benefited Brandix by allowing 100% utilisation of HSBC’s operating balances participating in the service; as a result, IE improved Brandix’s yield for credit balances. It is well suited to both open as well as more restrictive markets with capital movement or FX controls, where regulation permits.
The solution provides total transparency from a pricing and taxation perspective and ensures operating risk and cost are properly managed in the process without affecting the underlying banking structure and working capital requirements.
The Asset Triple A Treasury, Trade, Sustainable Supply Chain (SSC) and Risk Management Awards are industry excellence recognitions awarded annually to companies and financial institutions that have launched or helped implement initiatives in corporate treasury management, trade finance, supply chain and/or risk management.
They are awarded to corporates (Triple A Client Awards) and financial services providers (Triple A Service Provider Awards), on in-country/territory as well as regional levels in Asia Pacific, the Middle East, Europe and North America.
