In the summer of 2022, adidas approached HSBC to work with its local bank, Saudi Awwal Bank (SAB). The two banks would work as one bank to provide adidas with a consistent support model.

The implementation began with adidas opening accounts in KSA. These accounts included monitoring visibility via existing host-to-host (H2H) connectivity, as well as the ability to execute payments and receipts. adidas wanted to integrate a liquidity solution from the outset to ensure efficient cash management for the newly founded subsidiary and the company also wanted card collection services in 40 stores to enable customer payments.

SAB ensured adidas consumers were able to use their preferred payment method from day one. adidas also looked for a cash in transit partner and partnered with SAB as a single banking partner in the country allowing full consolidation of the business. This has allowed the treasury teams both locally and in the head office in Germany, to monitor transactional flows and expedite the rollout of services in KSA in line with adidas’ growth in the market.