Published  15 MIN READ

Here Come the Winners… 2019 Awards for Innovation & Excellence

TMI Awards

Digital disruption was one of the key drivers of treasury innovation in 2019.  As this year’s Award winners demonstrate, banks, technology vendors and fintechs have leveraged digital innovation to move the corporate treasury profession forward – delivering excellence by helping treasurers to become more efficient, operate in real-time, and contribute to the wider business in a meaningful way.

Bank Awards

Within the category of Cash & Liquidity Management, HSBC carried off the prize for Global Bank of the Year, with key developments during 2019 including a range of sophisticated technology solutions such as Next Generation Virtual Accounts Management (NgVAM). This allows clients to operate their day-to-day banking activities with fewer physical bank accounts, supported by multiple virtual accounts. The bank also successfully introduced new ways of working in the application programming interface (API) economy and rolled out its Beneficiary Self-Management solution, enabling a self-service environment via HSBCnet.

HSBC also won two Asia Pacific regional bank Awards for Cash & Liquidity Management and Trade & Financial Supply Chain Management. The first foreign bank in mainland China to launch an omni-channel solution to provide collections services across all major digital channels and payment types, HSBC has a strategy to provide leading-edge products and services to its diverse client segments across Asia Pacific. Another example is PayMe for Business, which was launched in March 2019, enabling merchants to download a mobile app, register using their business banking details and accept payments securely from over 1.7 million consumers in Hong Kong. And in the supply chain space, HSBC’s notable achievements included rolling out a sustainable supply chain finance programme for a leading global sports brand leveraging HSBC’s footprint in Asia. This provides financial benefits to key suppliers that meet relevant sustainability criteria.

Meanwhile, HSBC was also chosen as the Best Bank for Cash & Liquidity Management in Latin America, introducing – among other innovations – its Liquidity Management Portal (LMP) for clients in Mexico. This is an online service with customisable tools to self-manage liquidity, cash pooling and investment execution. A Corporate Travel and Expense card which offers greater cost control and savings on business travel expenses was also introduced as part of the bank’s LATAM strategy of putting clients at the heart of everything the bank does.