Client profile

Founded in 1962, HL Mando Corporation has become a key player in the global auto parts industry. Headquartered in South Korea, Mando specializes in steering, brake and suspension parts, and operates in the U.S., China, Turkey, Brazil, India and Japan. With over 10,000 employees and annual revenues exceeding $6 billion, Mando is a powerhouse of the automotive world.

Operations under pressure

With complex payment processes to manage, Mando struggled to capture data across a vast number of banking entities and accounts in various countries. Until now, the company’s international subsidiaries managed payments via internet banking portals and reported cash positions once a month in a time-consuming and potentially risky process.

Now, Mando wanted to improve cash management with a clear, real-time view of cash flows across its operations. The firm was also looking to reduce the costs of managing multiple payment systems and make it easier to detect and prevent fraud.

That’s why Mando turned to FIS® Payment Hub – Standard Edition, a cloud-native, SaaS-based digital solution for centralizing and modernizing payment processing and connecting to, and communicating with, banks.

Ideal technology partner

In FIS, Mando found a partner with a global presence, deep industry experience and a unified, reliable solution that provides complete visibility into the company’s cash positions.

Payment Hub – Standard Edition seamlessly integrates with Mando’s treasury solutions and the SAP ERP system it uses globally. And with a prebuilt library of bank connection protocols and formats delivered as a service, it was quick and easy to connect to 20 of the firm’s different banking partners for fast, seamless and secure transaction processing and statement reporting.

With a consultative approach and a dedicated team of banking and technology experts, FIS took just three months to complete its first wave of implementation for Mando – setting up the solution for the company’s U.S. entity.

Four days of hands-on training in English and Korean, conducted by experienced users of the solution, ensured the client was comfortable utilizing Payment Hub – Standard Edition. Further rollouts are now planned for entities in Mexico, China, Brazil, India and Poland.

Impressive results

Through Payment Hub – Standard Edition, Mando is standardizing its payment processes and making transactions more efficient and secure. Standardized workflows, best-in-class controls, full audit capabilities and the highest levels of cybersecurity considerably strengthen Mando’s protection against fraud and cyberattacks.

Mando has also saved money by optimizing payment methods to keep money in frictionless motion, reducing the costs associated with global transactions and cross-border payments.

Thanks to greater financial visibility, the organization can now focus on innovation and unlocking future growth. With streamlined operations, it will dedicate more resources to developing leading-edge automotive solutions and expanding into new parts of the world.

Ultimately, Mando is in a stronger position to drive growth and cement its leading position in the auto parts market. As Mando continues to adapt to market changes, its partnership with FIS – and continued support from our payment strategy experts – will be crucial in driving future success.