An increasing number of businesses globally are seeking to sharpen their competitive edge after the coronavirus pandemic has disrupted industries, exposing them to new challenges and accelerating the transition to a digital economy.
Since its founding in 1992, Dyarco International Group has been an active contributor to Qatar’s vibrant and growing economy, building a diversified conglomerate ranging from industrial construction and technology to business and investment.
Over the years, its subsidiary Dyarco Shipping Services has built relationships with over 150 partners in more than 80 countries across the Middle East, Asia, Europe and the Americas, becoming one of Qatar’s leading international freight forwarding companies.
In 2020, HSBC Qatar started its corporate banking relationship with Dyarco and it got extended when Dyarco was looking for ways to optimise and digitalise its treasury operations.
With the customer centric approach and to provide future proof technology, HSBC pitched the concept of its Corporate and Treasury Application Programming Interface (API) solutions to help manage their accounts efficiently and automate their payments.
Dyarco embraced HSBC’s API concept and brought in its technology partner Anvin Infosystems WLL, the group’s Qatar-based third-party Enterprise Resource Planning (ERP) system provider, to study together how the solution could enhance the firm’s competitiveness in the fast-changing global market.
With Dyarco’s senior management support and its technology partner Anvin Infosystems WLL system expertise and capability, HSBC embarked on the journey to onboard Treasury APIs for Dyarco.
Real-time visibility and efficiency
Corporate and treasury API have allowed Dyarco to make prompt treasury decisions by leveraging Real-time visibility of account balances and transactions APIs.
Corporate and treasury API also offer improved security and efficiency, enabled by transitioning from a paper-based framework to an automated payment proposition, including processing, query handling, instant payment status updates and automated reconciliation.
This leads to fewer errors, while the solution itself is simple and secure. Dyarco’s own customers also enjoy an improved experience with the reduction in the payment processing cycle.
Within a short span of time, HSBC APIs were implemented. Thanks to Anvin Infosystems WLL IT team which facilitated overall system deployment on behalf of Dyarco.
Dyarco is the first HSBC Qatar customer to go live with the full suite of Corporate and Treasury APIs, which includes real-time account balances, bank statements, payment initiations and payment enquiries.