The Hongkong and Shanghai Banking Corporation (HSBC) and Hirdaramani Group, a readymade garment manufacturer based in Chattogram, recently signed an agreement to offer host-to-host (H2H) payment solutions for the latter.

Gerard Haughey, country head of wholesale banking at HSBC Bangladesh, and Aroon Hirdaramani, director of the group, inked the deal, read a press release.

This service will enable Hirdaramani Group to process a variety of payments directly from their enterprise resource planning (ERP) system, and will provide greater financial flexibility for payments and reconciliation, which will meet their increasingly sophisticated business needs.

"The journey towards fully optimised cash management has a number of steps, which can each provide additional benefits to treasurers," said Haughey.

"This innovative digitised solution such as HSBC's host-to-host facility has proven beneficial in ensuring faster and efficient transactions through one single platform, allowing us to focus on the business amid a fast-paced industry landscape," said Hirdaramani.

Among others, Stuart Rogers, regional head of international markets, commercial banking for Asia Pacific at HSBC, Manoj Dugar, regional co-head, global payments solutions for Asia Pacific, and other senior officials from HSBC Bangladesh were present.