HSBC Malta launches FX Prompt for cross border payments

Last Updated on Wednesday, 3 August, 2022 at 9:06 am by Andre Camilleri

HSBC Bank Malta has launched FX Prompt, a new service that allows companies that trade internationally to make cross border payments with greater confidence. Available through HSBCnet, one of FX Prompt’s key features is the ability to automatically check and inform on the currency that the beneficiary’s account is in, thus offering customers with the opportunity to effect the payment in that currency. Applying the FX Prompt payment currency suggestion means customers can confirm the foreign exchange rate before paying.

Joyce Grech, Head of Commercial Banking at HSBC Malta, said “Thanks to FX Prompt, HSBC business customers can now make cross border payments with a new level of transparency and certainty. By making the most of the latest technology and our global experience, we’ve created a simple but powerful service which ensures customers are in control.”

Growing and improving foreign exchange services for the business community is a key area of focus for HSBC Malta and across the HSBC Group. Significant resources are being committed to develop additional data-led solutions such as FX Prompt which further differentiate the bank from competitors among businesses that trade internationally.

“FX Prompt was built on the back of data from billions of transactions to millions of accounts around the world and will continue to learn and grow with every new transaction. AI based prompts will also be added to the services in due course to further enhance the client experience for our customers in Malta and the 17 other markets where it has been launched,” added Grech.

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In 1994, the Malta Business Weekly became the first newspaper fully dedicated to business. Today this newspaper is a leader in business and financial news. Together with the launch of the MBW newspaper, the company started organising various business breakfasts to discuss various current issues that were targeting the business community in Malta.