HSBC has been granted a patent for a global transfers computer system designed to facilitate real-time foreign exchange and non-FX transfers for customers with accounts across multiple countries. The system integrates customer data, treasury processing, and compliance checks to streamline international fund transfers. GlobalData’s report on HSBC gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on HSBC, Perimeter security was a key innovation area identified from patents. HSBC's grant share as of June 2024 was 81%. Grant share is based on the ratio of number of grants to total number of patents.
Global transfers computer system for international account transactions
The granted patent US12045786B2 outlines a comprehensive global transfers computer system architecture designed to facilitate real-time foreign exchange (FX) rate requests for customers with accounts across multiple jurisdictions. The system integrates a global treasury computer system and a local treasury computer system to process FX rates for both supported and unsupported currencies. It features a centralized customer database that consolidates personal internet banking (PIB) profiles, enabling single sign-on (SSO) access to accounts in different countries. The architecture allows customers to initiate electronic global transfer instructions through a user-friendly interface, which verifies the transactable countries and processes automatic fund transfers between debit and credit accounts while adhering to specific country requirements.
Additionally, the system incorporates a foreign exchange application that interfaces with both treasury systems to obtain real-time FX rates, caching these rates for use during outages or weekends. The architecture is designed to perform automated compliance checks and linking validations to ensure secure transactions. It also allows for the generation of different FX rates based on predetermined criteria, providing flexibility for customer transactions. The system includes features for administrative support, automated distribution of FX income, and the generation of FX income reports, enhancing operational efficiency for both customers and financial institutions involved in global transfers.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
