HSBC exec calls real-time payments the new standard for global
HSBC’s Tom Halpin, the bank’s Regional Head of North America Global Payment Solutions, states that the move to real-time payments is no longer a future commitment but the current standard. With over 25 years in transaction banking, Halpin has observed how corporations transitioned from batch-based processing to continuous payments, where speed, transparency, and control are now essential rather than optional.
This transition forces treasurers to rethink liquidity management. Executives now expect funds to move whenever business operations require it, including overnight, on weekends, or across time zones. Halpin explains that business operations do not stop, so payment and liquidity systems must function continuously. For multinational corporations with detailed cash flows, this shift provides clear benefits: improved liquidity centralization, reduced idle balances, and faster responses to funding needs.
HSBC holds a distinct position in the payments industry by combining global scale with innovation, operating across key trade and treasury corridors. This enables clients to transfer money internationally with greater speed, transparency, and control. Halpin highlights that multinational corporations require consistency and connectivity across all markets, not just in one region.
Fintech companies have significantly influenced this transformation, pushing global banks to adopt new capabilities. HSBC stands out by pairing its international network with tokenized deposits, API connectivity, enhanced data, and AI-driven payment intelligence. These tools help clients modernize treasury operations globally, enabling faster fund access and smarter decision-making.
Outdated systems block seamless real-time payments
However, the shift to continuous payments presents challenges. Many decision-makers still depend on systems designed for batch processing, featuring cut-off times and manual reconciliation. Halpin identifies the biggest obstacle as delivering continuous execution and certainty alongside outdated processes. This creates pressure across treasury operations, from control frameworks to liquidity management and technology infrastructure.
Connectivity issues persist in some markets, where intermediary transfers reduce transparency and complicate tracking. Halpin emphasizes that integration and operational changes must occur simultaneously—otherwise, visibility and control gaps will remain.
As payments accelerate, the data they generate becomes a key resource for treasurers. Real-time visibility of cash flows, payment statuses, and positions allows teams to address funding and liquidity proactively rather than reactively. Detailed payment data strengthens forecasting by revealing patterns and exceptions immediately, helping firms identify risks before they escalate.
Embedding this data through APIs into ERP and treasury management systems (TMS) enables organizations to handle exceptions more efficiently and improve oversight. Foreign exchange execution also benefits, with conversions and hedging strategies aligned to verified payment flows. The outcome is a more flexible treasury function supporting real-time business needs while managing risk.
Balancing speed and fraud protection in digital payments
Security remains a top priority as payments become faster and more digital. Halpin states fraud protections must advance without creating delays. Advanced analytics and AI-driven risk assessments help detect unusual activity early, applying stricter checks only when necessary. The objective is to maintain robust safeguards while ensuring legitimate transactions proceed smoothly.
Client demands have grown alongside these changes. Corporations now expect payments to move at the speed of their operations, with real-time visibility and seamless workflow integration. They seek more than transaction processing—they want data-driven banking, where connectivity and insights improve decision-making.
For Halpin, this shift represents an evolution in banking partnerships. Clients increasingly look for providers that combine innovation with reliability and global reach. That means banks must invest in APIs, real-time payment access, modern infrastructure, and AI tools, not just to process transactions, but to help clients leverage data and technology for strategic benefits.
HSBC’s modernization of treasury operations depends on integrating real-time data into existing systems. The bank’s focus on API connectivity allows clients to embed payment and liquidity data directly into their enterprise resource planning (ERP) and treasury management systems (TMS). This integration eliminates silos between banking and internal workflows, enabling treasurers to act on payment statuses, currency movements, and cash positions without manual input. For instance, a multinational corporation can now trigger automated hedging or funding decisions based on verified payment confirmations instead of relying on delayed batch updates.
