DigiCert Unlocks Real Time Treasury Data with HSBC’s APIs

Founded in 2003, DigiCert is the world's leading provider of digital trust, enabling individuals and businesses to engage online with the confidence that their footprint in the digital world is secure. DigiCert® ONE, the platform for digital trust, provides organizations with centralized visibility and control over a broad range of public and private trust needs, securing websites, enterprise access and communication, software, identity, content, and devices. DigiCert pairs its award-winning software with its industry leadership in standards, support, and operations, and is the digital trust provider of choice for leading companies around the world.

As the business continued to grow exponentially, the DigiCert treasury team found it extremely time-consuming to manually log on to multiple financial institutions’ online systems and download various CSV files.

Speed and accuracy of information are paramount for quick and effective treasury and finance related decisions. As a company who sets standards in the delivery of leading technology, DigiCert identified opportunities for treasury management to be more hyper connected with the reconciliation process and recognized the need to evaluate options to upgrade and automate their treasury solution.

HSBC’s Global Payments Solutions team worked with Charles Edington, DigiCert’s Director of Global Treasury, to develop a deeper understanding of their challenges and goals. Based on the consultative findings, the DigiCert team decided to modernize their existing treasury management system by incorporating APIs for real time information.

An API, or Application Programming Interface, is a technology bridge messenger, enabling different business applications or systems to communicate and exchange information in a standardized automated way.

HSBC’s Account Information APIs offered DigiCert a controlled conduit to directly connect with the bank to facilitate the real time transmission of transaction and balance information seamlessly into their treasury management system.

With HSBC DigiCert found a globally experienced, agile banking partner, who they could depend on from a best practice advisory perspective.

Including the initial set up and testing process, HSBC’s Account Information APIs were integrated into DigiCert’s existing treasury management system, Treasury Suite, delivering benefits within a two-month window.

• Enhanced operational efficiencies: Consolidated and automated global bank account information reducing the dependency on multiple baking portals, enabling real time information to be received digitally, streamlining the reconciliation process.
• Better informed decision-making: Streamlined account funding and liquidity processes by providing 24x7 real time, enterprise-wide, visibility of global and subsidiary account information, cash positions and aggregated data reporting.
• Reduced risk: API integration allowed automated transaction monitoring within DigiCert’s existing business systems, helping to resolve errors faster by validating transactions in real-time, reducing operational delays.
• Seamless integration and technical infrastructure: The Account Balance API provides real-time access to information in the industry standard ISO 20022 format.

DigiCert partnered with HSBC for its global scale and ability to integrate numerous data sources, its rich and highly configurable cash management functionality, consistent and broad coverage model and HSBC’s collaborative approach to product implementation and ongoing solution servicing support.

Additionally, HSBC was cited as a rapid and efficient financial partner whose global strategy recognizes that the future of the digital world lies in frictionless platforms that connect to one another through multiple API services, creating opportunities for greater automation and integration.