- Article
- Innovation
- Digital Adoption
The power of payment data for import financing at HK JEBN 樓上
HK JEBN is a premium retailer of health focused, traditional Asian cooking ingredients, including swallow’s nests, cordyceps, and other dried seafood along with herbal tonics, various international products etc.
They also offer ready-meals, snacks and drinks, manufactured in their factory in Hong Kong SAR.
HK JEBN continues to meet changing customer demands through product innovation, including online stores in mainland China and Hong Kong SAR, with a philosophy of ‘customers and quality always come first’.
The Challenge
Managing multiple supplier relationships
- Working with hundreds of suppliers across the region to source the highest quality products presents logistical and financial complexities
Ensuring adequate cash flow to support import financing
- Trade terms with suppliers are mainly agreed on an open account basis
- Adequate and additional cash flow is required for on-demand purchases
- Especially during season peaks such as traditional Chinese festivals
The Solution
A pilot digital trade financing programme between HSBC and HK JEBN leverages customer payment data to facilitate faster and simpler financing.
- HK JEBN accepts customer payments using a range of apps and digital wallets
- Payment data is aggregated with customer transactions made via a merchant payment terminal
The payment data supports HK JEBN to access funds faster from HSBC
Our competitive advantage comes from offering a large range of products from a diverse set of suppliers. The work with HSBC on this pilot has shown how big data can help us more easily and efficiently obtain trade financing, and assess future demand for products in a timely and accurate way.
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The Outcome
Aggregating payment data has helped HK JEBN to better manage their:
- Working capital and cash flow for inventory purchases based on accounts receivables data
- Supply chain and liquidity allowing them to seize new opportunities more readily
This case is a great example of the power of data – by aggregating payment data and using it for different types of analysis and decisions, firms like HK JEBN can gain a more holistic view of their business, and access funds faster to support operations.
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To find out more, speak to your HSBC Relationship Manager.
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