News

HSBC Bank earns excellence award for Check 21 compliance

May 18, 2006

BOSTON - The Association for Work Process Improvement honored HSBC Bank USA as the winner of its Remittance Processing Council's first annual excellence award. The award will be presented in Chicago next month.

According to a news release, the bank was selected because of its innovative approach to lockbox integration of Check 21, image-exchange and check-conversion. TAWPI said HSBC's adoption of payment technology advances the goal of reducing unit costs to the bank and providing benefits to its biller customers.

"The Awards Assessment Committee was impressed with HSBC's innovative approach and use of check-truncation technology in a distributed environment," TAWPI's vice president of product development, Dana Gould, said.