HSBC and Siemens have carried out the first fully digital, end-to-end indirect guarantee, marking a significant development in the ongoing digitalisation of trade finance in Europe. 

Completed jointly by Siemens, HSBC Germany and HSBC France, on behalf of Siemens Spain, the transaction was processed via Guarantee Vault, the digital infrastructure operated by German fintech company Digital Vault Services (DVS). 

The local guarantee was issued by HSBC France and secured through a counter-guarantee by HSBC Dusseldorf on behalf Siemens Spain. The entire process was handled fully digital.

Gerhard Heubeck, Global Head Trade Finance Advisory at Siemens AG stated: “At Siemens, we leverage innovative technologies to continually enhance the reliability and responsiveness of our financial processes. The fully electronic execution of this guarantee enables us to replace paper-based workflows with modern, efficient processes, ensuring smoother and faster handling at the highest quality standards.”

Olaf Haferkorn, Senior Sales Lead Global Banking at HSBC, added:“We’re pleased to support Siemens in this important step. By issuing locally in Spain through HSBC’s international network and using a secure digital infrastructure, we’ve demonstrated how cross-border trade finance can become faster, more transparent, and better aligned with our clients’ operational needs.” 

This transaction marks a key step toward the broader adoption of digital guarantees in European and international markets. It demonstrates how corporates, financial institutions, and fintechs can collaborate to develop and implement scalable, compliant, and future-proof solutions for critical financial instruments.