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HSBC Securities Services

Client Industry: Banking
Purchase Category: Financial Services

Challenge

Collecting information via spreadsheets or word processing documents is time consuming and error prone. The volume of data collected each year as part of HSBC's custody monitoring is significant, and there is inevitably duplication year on year. The challenge was to find a way to manage this process more efficiently so that changes in information would be identified quickly and accurately.

Solution

Thomas Murray, a banking research and consulting company, has been been managing financial RFPs and monitoring questionnaires via PostRFP (and its predecessor) for over 10 years. HSBC previously had exposure to PostRFP through the respondents side - responding to RFPs. When searching for ways to optimize their custody network management they approached Thomas Murray.

After an extensive process of due diligence and testing, HSBC concluded that PostRFP would enable them to improve their processes for the monitoring and review of their network.

Key Product Features

  1. Importing RFP Answers
  2. RFP Rules and Regulations
  3. RFP Team Management
  4. RFP Template Library

Background

HSBC Securities Services has a network of sub custodians in over 90 markets. Each sub custodian's performance must be monitored annually. Part of this process involves collecting structured information via monitoring questionnaires.