by George Nast, Head of Sales and Client Management, Transaction Banking, Standard Chartered Bank
In an environment of considerable regulatory and market uncertainty, and growing competition, banks face a dilemma. How do they create certainty for their customers, and differentiate their offering by adding value in new ways?
Perspectives on transaction banking
Transaction banking is a core business for many regional and international banks, as collecting cash, paying suppliers and financing trade shipments is fundamental to clients’ business. As these services are indispensable, banks often become complacent, treating these relationships as ‘sticky’ and a basic service from which to cross-sell other solutions.