The partnership is expected to launch HSBC's FinConnect solution in India, per the release. With the goal of streamlining financial operations, FinConnect is a central finance operating system created to empower CFOs and their business teams.

Furthermore, according to HSBC, by securely integrating bank accounts and automatically reconciling payments against your bills and invoices, this partnership will enable business clients to fully realize the potential of their corporate finances and streamline payments. HSBC's statement emphasizes that the objective is to make business financing simple, safe, and effective through plug-and-play installation, real-time tracking, and convenient payments from connected accounts.

FinConnect links more than 300 enterprise resource planning (ERP) software packages to a company's HSBC account. Using Open Banking technology, these solutions assist in automating a range of accounts receivable and payable operations, including payroll, accounting, e-commerce, cash-flow analytics, and customer relationship management.

This FinConnect India expansion is a component of HSBC's Beyond Banking program, working with Open Financial Technologies.