HBZHK is incorporated in Hong Kong. HBZHK is a subsidiary of Habib Bank AG Zurich, a banking group with presence across 4 continents and 10 countries.

Since its establishment in 1979, HBZHK has provided extensive, customised, end-to-end trade finance solutions to customers. The Bank has developed long-standing, solid partnerships with traders and manufacturers, supporting their growth journeys.

More than 40% of clients have been with the Bank for over 10 years, with one-third of them maintaining relationships for over 20 years.”HBZHK’s dedicated team of Relationship Managers have significant understanding of the dynamic financial requirements of all businesses, from MicroSMEs to Corporates, offering insightful knowledge and international experience.

HBZHK offers a comprehensive and customisable range of products and services, including deposit accounts, extensive trade finance/working capital solutions, and treasury services. HBZHK has repositioned itself as the Bank of choice, not only for trade finance solutions in the market, but as an active member of the community and an employer of choice.

The Results

Suresh Mani, Chief Compliance Officer at Habib Bank Zurich (Hong Kong), shares the key benefits his team has experienced since adopting PurpleTRAC.

Additional Layer of Sanctions Screening

While the bank already used sanctions screening tools, Suresh Mani noted, “PurpleTRAC sanctions screening has added an extra layer of security” for maritime activities, ensuring better visibility of potential risks linked to vessels, routes, and ports. This additional transparency has allowed HBZHK to more quickly monitor, assess and detect risks, bringing quicker turnaround times to customers.

Full Verification of Trade Documents

Before PurpleTRAC, HBZHK used manual verification methods for bills of lading, which could be time-consuming. Suresh stated, “With the use of PurpleTRAC, we are now able to screen and validate 100% of our trade documents in real time,” significantly reducing the risk of documentary fraud and enhancing compliance measures.

Improved Transshipment and Vessel Ownership Screening

Transshipment vessels and high-risk ports pose a significant challenge in identifying risks. With PurpleTRAC, HBZHK has full visibility of shipment routes and vessels, allowing for complete screening of ownership structures and any shell companies involved. This has enhanced their ability to mitigate sanctions risks.

Time Savings Through Automation

One of the biggest advantages of PurpleTRAC has been the time saved on manual checks through its automation process. According to Suresh, “With PurpleTRAC, the time taken to screen documents has drastically reduced to a few minutes. As a result, the bank is now able to enhance its automated screening to 100% of trade documents.” Vessel screening and bill of lading verifications could take 24–48 hours when using their old solution.

Habib Bank Zurich (Hong Kong) Limited has significantly enhanced its trade finance compliance operations by leveraging PurpleTRAC. From faster document validation and deeper vessel ownership insights to enhanced sanctions screening, PurpleTRAC has helped to ensure complete visibility and control over maritime risks, saving time and reducing manual effort along the way.

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