- Article
- Innovation & Transformation
- Digital Adoption
Partnering with WPP to drive innovation and growth
WPP plc (“WPP”) is the creative transformation company. Its global agencies are leaders in communications, experience, commerce and technology, operating across 110 countries.
HSBC has had a dynamic, trusted and constantly evolving partnership with WPP in Asia Pacific since 1998, which replaced multiple banking partners. The relationship now extends to 18 markets in the region.
Our achievements have been made possible with HSBC’s deep regulatory knowledge and digital solutions. HSBC provides us with first-hand information as regulations change, so we are able to respond and adapt quickly to seize new opportunities.
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Banking needs in Asia Pacific
WPP was looking for a long-term partnership with a trusted bank that could:
- Innovate as the company expands into new digital offering
- Support day-to-day cash and liquidity management across WPP’s diverse footprint
- Offer expertise on navigating regulatory requirements related to liquidity, particularly in more restricted markets
The value of the HSBC relationship
Accordingly to Alex Koh, Regional Treasurer, Asia-Pacific, WPP:
“HSBC has not failed us throughout our 20+ year partnership, which gives our senior management peace of mind. Our partnership has been a success because it is built on trust and is adaptable, innovative, centralised, and consistent across an international network.”
The key values of HSBC's partnership
Adaptable
“HSBC has evolved its service model to cater for WPP’s own transformation process over the years.”
Innovative
“HSBC continues to invest in digital solutions to help us remain competitive and efficient”
Centralised
“The diversity and scale of WPP meant having a regional relationship manager who is key to managing the day to day operations.”
Consistent
“We have received a consistent level of service and commitment across our operating business and markets.”
International
“HSBC is well-equipped to manage the needs of multinational companies, with global reach and local market and regulatory expertise.”
HSBC Payments
Gain more control over incoming and outgoing cash flows. Getting funds in sooner, and holding on to them longer, is critical for maintaining a healthy cash flow.
Partnership in action
Better access to liquidity
Philippines – HSBC expertise and knowledge of regulations facilitated the implementation of a cross border solution to access funds.
Improved operational efficiency
India – During COVID-19, staff could not sign paper documents, so HSBC rapidly implemented a digital signature solution and gained regulatory approval, for which the bank won an award.
Better visibility and mobility of cash
Hong Kong SAR – Cash is concentrated from mainland China, Singapore and Japan into Hong Kong SAR, improving insight into regional liquidity.
Support for WPP’s digital transformation
HSBC engaged subject matter experts to fine tune WPP’s regional liquidity and domestic structure as regulations evolved, projects included cross border sweeps and next generation virtual accounts.
