Exclusive multi-asset broker, Saxo Bank, announced its partnership with HSBC to provide real-time funds transfer into the trading platform.

Saxo Bank is working with HSBC to incorporate eGIRO and FAST Direct Debit Solution into the trading platform to support real-time fund transfers.

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Previously, Saxo Bank clients needed to add to an investment account after placing a trade and had to log in separately to the bank account to transfer funds. But now, when a client performs a one-time Direct Debit Authorization electronically via eGIRO, Saxo Bank can leverage the Real Time Direct Debit API to trigger instant collections on demand.

The API solution covers the end-to-end process, from authorization setup, and real-time verification to direct debit initiation, all from within the Saxo platform. The fully automated process also eliminates manual paperwork, further increasing operational efficiency in cash flow management.

Thomas Qvistgaard Hansen, APAC COO, Saxo Markets, said: "We are very happy to be able to launch this for our clients as it will bring a much smoother user experience as they trade and invest in the markets, without the need to leave the Saxo platform. In addition to ad-hoc top-ups, this solution also perfectly ties in with our digital asset management solutions and RSP products where recurrent deposits can be easily scheduled again without having to separately log in to the bank account."

Winnie Yap, Head of Global Payments Solutions, HSBC Singapore, said that in today's increasingly digital and connected world, client-centric businesses like Saxo want to serve their clients in a simple and seamless way. HSBC felt they could partner with Saxo to support its growth in international markets, by creating a joint solution built on state-of-the-art real-time APIs and payment channels.