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Treasury Strategy & Transformation
Published  13 MIN READ

Introducing the Winners

Banks and Vendors Take Treasury to New Heights

Bank Awards

Where better to start this celebration of innovation and excellence than with the Global Bank of the Year for Cash And Liquidity Management – HSBC. Throughout 2020, the bank added to its digital capabilities, with a new cash flow forecasting tool and an enhanced mobile proposition. HSBC also went out of its way to make business as normal as possible for corporate treasurers, even during the most challenging times – and continued core functions at speed – processing more than 139 payments per second throughout 2020.

HSBC also won two Awards in the North America region, the first for Best Bank for Cash & Liquidity Management. Here, the bank launched its Paycheck Protection Program to help clients facing short-term cash flow issues as a result of the pandemic, and Beneficiary Self-Management (BSM) proved to be an award-winning self-service portal. A further initiation during 2019 was real-time payments via HSBC Bank USA NAs RTP Network, where real-time payments of up to $25,000 can be cleared and settled on a 24/7/365 basis.

HSBC’s Award as Best Bank for Trade and Supply Chain Finance in North America recognised one of its major strengths: its geographic footprint provides access to 90% of global trade flows and it facilitates $760bn of trade annually. The bank’s Global Trade and Receivables Finance (GTRF) function engaged proactively with North American and Canadian clients to engineer solutions to optimise their working capital, ensuring that both they and their critical suppliers had access to liquidity during the pandemic. Examples include optimising liquidity for a leading US marketer of baby and children’s clothing, and supporting a global manufacturer and distributor of medical products for the military as it responded to the US government’s appeal for private sector production of medical equipment for civilian use.

HSBC also received two Awards for outstanding achievements in China. Best Bank for Cash & Liquidity Management recognised a range of new solutions developed by HSBC China, which all supported the bank’s broader strategies. Better account rationalisation was made possible by its E-Tax Proposition: HSBC’s years of investment in city tax bureaus’ connectivity enabled more corporates to take advantage of the full payment spectrum available under China’s nationwide tax direct debit system, and the bank’s Omni-Collect Proposition made more e-wallet collections possible.