`Hexagon', launched in 1985 was till date a "view" facility that allowed HSBC corporate clientele to have an "up to the moment" awarness of payments, receipts and market conditions.

"Decision making in corporates at the senior financial level does not happen within the environs of our branches. `Hexagon' is real-time desk-top service, and is an altogether new level of distintermediation. And given the level of awareness that is prevalent in the echoleons of corporates, there is no doubt that `Hexagon' will be well received", HSBC's chief executive (India), Dyfrig J John, said while adding, "We have, thus far, underinvested in `Hexagon' and it will be our endevour within our corporate banking to invest and get ahead of competition.

HSBC will at first extend the upgraded version of`Hexagon' to its corporate banking customers at a flat rate of Rs 2,500 a month. "We expect our corporate customers with a global presence and many with whom we have a long standing relationship to avail of this facility. Among corporates here, we see our offering to be of particular help to those who raise funds abroad or have cross-border relationships as also mid-size corporates", John said.

`Hexagon' will allow corporates to manage their global cash flows, make and receive payments, and will also cover trade and securtties transactions on a real-time settlement basis while providing a definite audit trail.

"Our offering will enable corporate customers to reduce their transaction costs and cut down on time. It allows for greater transparency in transactions and better back-office management for corporates", HSBC's Head of Payment and Cash Management (Asia Pacific), Andrew P Long, said.

HSBC's has a strategic partnership with PriceWaterhouse Coopers. The consultancy firm has tested the interfacebetween `Hexagon' and the complimentary software--SAP R/3--certified by SAP AG of Germany. Under the scheme of things of worked out, the payment interface from SAP has been integrated into Hexagon with the reconcilation interface from Hexagon with SAP.

"While our own customers can transact via `Hexagon', relationships with other banks can only be viewed. Our endevour is to rope in other banks to get on `Hexagon' on a transaction level basis", HSBC's manager (India), Global Cash Management, Swarup Choudhury, said.

HSBC plans to extend `Hexagon' for the benifit of its retail banking customers over a period of time. "We do see `Hexagon' helping our retail clientele, but when we offer it, suitable modifications will be made", John said.