Continuing from my previous article, Two Heavy Weights enter EIPP market, GT News reported in March that HSBC has launched A/P integration service. HSBC calls this service, Accounts Payable Integration (API). I wish they chose a different name. In our industry, API stands for Application Programme Interface. APIs are needed to build interfaces between different programmes, for example, connecting ebdex Document Exchange to Access Accouting, Mamut, Oracle or any other.
“HSBC API is an integrated accounts payable solution, the first in a series of a new suite of accounts payable solutions launched by HSBC. The platform accepts all types of invoice in whatever format, including paper and e-mail, and converts them into a useable data format as required by the accounts payable industry.”
So, who is providing the technical know-how to HSBC? Could this be Bottomline Technologies? In Mar 05, GT News reported, Bottomline becoming the sole supplier to HSBC for providing BACTSEL-IP solutions. Both parties have at least been working together for 5 years.
Perhaps, its worth tracking development (relationships – perhaps not full EIPP offerings yet) within the banking sector (free research for our competitors!):
- Lloyds TSB with Causeway
- Deutsche Bank with Computer Sciences Corporation
- Royal Bank of Scotland with Accountis
- HSBC with Bottomline Technologies
So, what is Barclays, Bank of Scotland, NatWest (part of RBS) and others are up to?