Against a backdrop of continual change – from disruptive technologies to new regulations and geopolitical challenges – transaction banks and treasury vendors continue to innovate on behalf of their clients. As this year’s high-quality submissions demonstrate, it’s not just the stalwarts who are investing in new services; fintechs are also getting in on the act. As such, we’re delighted to welcome some new names among our 2018 award winners, alongside those organisations which consistently deliver excellence – year in, year out.
There was a hot contest this year between Citi and HSBC, with both banks taking away a clutch of awards. Citi was recognised for its Cash & Liquidity Management capabilities in the Middle East & Africa where the bank has continued to support clients with best-in-class solutions and delivered innovation through digital tools leveraging application programming interfaces (APIs) and robotic process automation (RPA). Citi has also entered into innovative strategic partnerships with selected fintechs to help clients achieve efficiencies in areas such as payments.
Citi was also awarded Best Bank for Financial Supply Chain in Europe, the Middle East & Africa and South America. In all three geographies, the bank has consistently invested and innovated to develop its supply chain finance (SCF) capabilities, facilitating standardisation, automation and efficiency for clients. Moreover, Citi® Supplier Finance, the bank’s global SCF platform, provides clients with enhanced visibility and control and offers several market-leading digital tools, including a Resource Centre, to support, engage and service buyers and suppliers throughout their SCF journey.
Meanwhile, HSBC was recognised as the Best Bank for Cash & Liquidity Management in Asia Pacific and North America, also taking away the Global award in that category. Major achievements in Asia Pacific included the roll-out of the bank’s Liquidity Management Portal, mobile payments and collections innovations in a number of countries, and the introduction of the bank’s new Digital Accounts Reconciliation Tool (DART). In North America, and indeed globally, the bank continues to invest significantly in helping its clients to embrace digitisation, drawing on breakthroughs in artificial intelligence (AI), big data, blockchain, APIs and biometrics. The bank has also been collaborating with fintechs, regulators, and banking peers worldwide to create a new innovation ecosystem – and the judges were delighted to recognise this forward-thinking approach.