While using its online HSBCNet platform to improve balance and transaction reporting, HSBC is to consolidate the Asian cash management operations of US consumer goods firm Unilever. Before choosing HSBC as its cash management partner, Unilever used a number of regional and domestic banks but decided to unite its operations for economies of scale and efficiency. Unilever will integrate its ERP platform with HSBC’s systems for account transparency, reduced transaction costs, the optimization of cash for funding purposes and streamlined receivables, according to Bloomberg.

In Singapore, JPMorgan Treasury Services is helping Japanese car maker Nissan fund a treasury center that will turn into a full global payments factory. The treasury center will make centralized payment functions that Nissan’s regional cash management centers fulfill at present, and will handle forex exposure in Asia, along with netting for cash surpluses. Consolidation of payment transaction volume with regional suppliers is aimed at reducing processing and the inefficiencies of paying a core base of suppliers from each regional office.