Reaching The Tipping Point
Global Finance presents the winners of its 13th Annual Best Treasury & Cash Management Providers awards.
Transaction banking prices remain at historic lows, and corporates are reaping the benefits. As some banks are driven out of the market and new, regional competitors rise to fill the gaps, it is pushing traditional players not only to keep those prices low but also to work harder to meet the needs and wants of their corporate clients.
But this competitive landscape is simply a backdrop to the broader picture, in which banks face much higher regulatory costs and most of their investment resources are eaten up by those costs.
In addition, banks' leverage ratios, liquidity coverage ratios and net stable funds ratios will rise under Basel III bank regulatory standards. Consequently, banks are reevaluating their transaction-banking client relationships as corporate deposits become a more costly form of bank funding.
The net result is that low prices for transaction processing services cannot last forever, and corporates should be prepared for the point at which the scale tips and costs for, and availability of, basic transaction banking services start to rise.
One development that could offset this dynamic is the rise of new platforms and models for transaction processing services that circumvent traditional bank offerings.
This year's World's Best Treasury & Cash Management Providers Awards looks at how these new models are rejuvenating the transaction processing market, and how corporates are benefiting from greater visibility into transaction life cycles to enhance overall working capital access and liquidity management.
Global Finance editors-with input from industry analysts, corporate executives and technology experts-used a variety of subjective and objective criteria in selecting winners across more than 60 categories. Factors considered include: profitability, market share and reach, customer service, competitive pricing, product innovation and the extent to which treasury and cash management providers have successfully differentiated themselves from their competitors around core service provision. In addition, we polled our corporate readers and factored in the results. -
GLOBAL WINNERS
BEST OVERALL BANK FOR CASH MANAGEMENT
BEST BANK FOR LIQUIDITY MANAGEMENT
BEST PROVIDER OF SHORT-TERM INVESTMENTS/MONEY MARKET FUNDS
Deutsche Asset & Wealth Management
Deutsche Asset & Wealth Management has a global team of over 400 portfolio management professionals located in all of the world's major financial centers. Drawing on a wealth of knowledge garnered from its own specialists and third-party experts, it offers both traditional and alternative investments across all major asset classes.
BEST BANK FOR RISK MANAGEMENT
BEST BANK FOR PAYMENTS AND COLLECTIONS
BEST WHITE-LABEL SYSTEM PROVIDER
REGIONAL WINNERS
BEST BANK FOR CASH MANAGEMENT
BEST BANK FOR LIQUIDITY MANAGEMENT
The bank is a leading provider of multi-currency cash concentration, deposit and investment products. "We work across silos to bring our whole firm to our clients in an integrated manner," says
BEST PROVIDER OF SHORT-TERM INVESTMENTS/MONEY MARKET FUNDS
J.R Morgan Asset Management
In
BEST BANK FOR RISK MANAGEMENT
The bank provides a wide range of solutions designed to help corporate clients manage risk more effectively. These range from trade finance and liquidity management solutions to technology offerings such as ReceivablesVision and City Payment Analytics, which provide clients with the visibility and control needed to mitigate risk.
BEST BANK FOR PAYMENTS AND COLLECTIONS
BEST BANK FOR CASH MANAGEMENT
The bank provides state-of-the-art liquidity tools to optimize clients' internal capital for investment and funding and is at the forefront in developing in-house banking services clients using virtual accounts.
BEST BANK FOR LIQUIDITY MANAGEMENT
"We consider available and free-flowing liquidity to be the lifeblood of the real economy," says
BEST PROVIDER OF SHORT-TERM INVESTMENTS/MONEY MARKET FUNDS
Deutsche Asset & Wealth Management
With
BEST BANK FOR RISK MANAGEMENT
BEST BANK FOR PAYMENTS AND COLLECTIONS
The world's leading euro clearer,
NORDIC COUNTRIES
BEST BANK FOR CASH MANAGEMENT
Investing heavily in its core electronic banking system, Corporate Netbank,
BEST BANK FOR LIQUIDITY MANAGEMENT
BEST PROVIDER OF SHORT-TERM INVESTMENTS/MONEY MARKET FUNDS
BEST BANK FOR RISK MANAGEMENT
BEST BANK FOR PAYMENTS AND COLLECTIONS
"A full member of local clearing systems in
CENTRAL &
BEST BANK FOR CASH MANAGEMENT
BEST BANK FOR LIQUIDITY MANAGEMENT
Boasting CEE's largest cash pool country coverage,
BEST PROVIDER OF SHORT-TERM INVESTMENTS/ MONEY MARKET FUNDS
Deutsche Asset & Wealth Management
Deutsche Asset & Wealth Management is among the 10 largest bank-owned asset and wealth managers worldwide. With
BEST BANK FOR RISK MANAGEMENT
BEST BANK FOR PAYMENTS AND COLLECTIONS
RBI offers innovative cross-border solutions-including a centralized card-acquiring solution and a cross-border cash-pool incorporating
BEST BANK FOR CASH MANAGEMENT
BEST BANK FOR LIQUIDITY MANAGEMENT
BEST PROVIDER OF SHORT-TERM INVESTMENTS/ MONEY MARKET FUNDS
Santander Asset Management
Santander Asset Management offers a range of local investment products across the region. The bank had assets under management of £128 billion (
BEST BANK FOR RISK MANAGEMENT
With its strong regional presence, the bank offers its expertise of local markets and conditions to provide a wide range of banking and financial products designed to minimize clients' risk exposures.
BEST BANK FOR PAYMENTS AND COLLECTIONS
Highlights include PayLink, an integrated solution allowing companies to outsource domestic payments, and Mobile Collect, a solution enabling small businesses in the
BEST BANK FOR CASH MANAGEMENT
The bank offers bill payment solutions and physical and notional pooling as well as domestic and international payments, escrow services and SWIFT.
BEST BANK FOR LIQUIDITY MANAGEMENT
In 2014 the bank announced its first cross-border renminbi cashpooling structure in
BEST PROVIDER OF SHORT-TERM INVESTMENTS/ MONEY MARKET FUNDS
Through
BEST BANK FOR RISK MANAGEMENT
BEST BANK FOR PAYMENTS AND COLLECTIONS
E.
"
BEST BANK FOR CASH MANAGEMENT
ADCB's achievements include the development of its file-based
BEST BANK FOR LIQUIDITY MANAGEMENT
BEST PROVIDER OF SHORT-TERM INVESTMENTS/MONEY MARKET FUNDS
BEST BANK FOR RISK MANAGEMENT
"
BEST BANK FOR PAYMENTS AND COLLECTIONS
Samba
The first bank in the
BEST BANK FOR CASH MANAGEMENT
Standard Bank_
As well as offering a range of electronic collections solutions, the bank provides a pioneering onsite cash management service that supports clients having high volumes of cash collections. Other capabilities include reconciliation tools, m-commerce solutions and mobile-banking functionalities.
BEST BANK FOR LIQUIDITY MANAGEMENT
The bank offers a full range of liquidity management solutions to support clients in managing their cash balances, including physical sweeping, notional pooling and interest optimization. The bank's next-generation liquidity platform, Straight2Bank Liquidity, is available in
BEST PROVIDER OF SHORT-TERM INVESTMENTS/ MONEY MARKET FUNDS
Standard Bank_
Stanlib,
BEST BANK FOR RISK MANAGEMENT
The bank's Straight2Bank platform is configured to monitor the behavior of online users and send email notifications of any behavioral changes. Enforced signatory rules can be used to reduce the risk of error or loss on transactions, while the bank's mobile-wallet solution helps clients reduce the risk to human life by mitigating the dangers involved in transporting physical cash.
BEST BANK FOR PAYMENTS AND COLLECTIONS
"We are seeing an increasing interest from global and regional treasury departments in pan-African banking solutions," says
US REGIONAL MIDDLE-MARKET PROVIDERS
NORTHEAST
MID-ATLANTIC
MIDWEST
WEST
The bank's Key Total Treasury solution supports cash, payables, receivables and reporting functionalities. The portal is also fully integrated with other functions, including investment management. Other solutions on offer include a wide range of sweep accounts as well as card services and fraud protection resources.
SOUTHWEST
SOUTHEAST
COUNTRY WINNERS
ANZ leverages its home market strengths to support clients expanding internationally and provides a range of scalable cash management solutions. "Funding risk after the global financial crisis remains at the forefront, as market participants need to manage their working capital cycle within strict counterparty limits and liquidity buffers," says
ING Bank Belgium_
From payroll services and Positive Pay to account reconciliation and cash control,
ICBC is one of
One of the largest multinational banks in the country,
Pohjola_
OP-Pohjola Financial,
Société Générale_
Société Générale has a long history of offering cash management services in
From its preeminent position in
With a strong commitment to a one-point-of-contact servicing model, the bank has established corporate transaction banking as an independent division to consolidate its cash management services for corporate clients. The bank's cash management offerings include client-specific payment and collection schemes as well as liquidity management and short-term investment solutions.
DBS
DBS
Bank Negara Indonesia_
Bank Negara Indonesia provides corporate cash management services via its Internet banking platform, BNI Direct. The bank supports local and foreign currency transactions and offers such collection services as virtual account solutions and an automatic collection service that streamlines the process of debiting third-party accounts.
From Internet banking service Global Cash Management Service to host-to-host Global Payment Hub, the bank has a clear focus on providing secure and user-friendly cash management technology to its corporate clients. For companies with global footprints, the bank also provides SWIFT connectivity services.
Operating as wholly owned subsidiary of
The biggest bank in
Maintaining strong cash management capabilities in what continues to be a cash-driven society, the group has a purpose-built center in
DnB
DnB offers various cash management services, such as crossborder payments and zero-balance accounts. The bank's Liquidity Module allows companies to keep track of flows held in
mBank_
The largest processors of corporate payments in local and foreign currency as well as cross-border payments in
The leading financial institution in the country, QNB offers such cash management services as payables and receivables, SWIFT, Internet banking and a fully integrated host-tohost solution.
In the past few years, the bank's corporate client base has grown to over 128,000 corporate customers, with the group offering them a wide range of products and services that includes foreign exchange operations, investment banking and such cash management services as receivables and payables optimization.
With its commitment to improving its service offerings to clients, DBS last year launched FAST, a local real-time payments product, and the IDEALMobile app in
KEB has a particular focus on growth in
The bank provides cash-pooling services as well as cash forecasting and payment solutions. Corporate
UBS
UBS offers corporations an integrated advisory service and tailormade product solutions. The bank provides payment solutions enabling companies to move cash efficiently both domestically and outside
CTBC
CTBC (formerly
Akbank Cash Management provides state-of-the-art offerings in cash, liquidity, payment, information and working capital management to its corporate and SME clients. The bank offers clients the ability to monitor and confirm payment files via mobile devices. Cash management products include the Akbank Direkt Corporate e-banking platform.
NBAD provides corporate clients with a number of different account services, payment and collections services and liquidity management tools. NBAD has recently upgraded its iBANKING platform to enhance features, making it easier for clients to send payments online and obtain real-time information.
BEST TREASURY MANAGEMENT SYSTEMS AND SERVICES
BEST ACCOUNTS PAYABLE SOLUTION
BEST ACCOUNTS RECEIVABLE SOLUTION
SunGard AvantGard Receivables
SunGard AvantGard Receivables GETPAID combines credit risk facilitation with collections management and dispute resolution.
BEST INTEGRATED WORKING CAPITAL MANAGEMENT SOLUTION
U.S. Bank Working Capital DNA
BEST ELECTRONIC INVOICING SOLUTION
BEST MULTICHANNEL PAYMENTS SOLUTION
BEST PAYROLL SERVICES
ADP
Paying salaries today is about providing a wide range of options to suit both employee and company needs. ADP's payroll solutions include the use of prepaid cards, which can be a more cost-effective and efficient way of paying. Its payroll solutions can be implemented on site or delivered as a managed service. It also supports mobile solutions that provide access to benefit plan reports and timesheets.
BEST CORPORATE CARDS AND EXPENSE MANAGEMENT PROVIDER
BEST LOSS PREVENTION/BUSINESS CONTINUITY SERVICES
SAS's latest business continuity software, Assurance-CM, captures a wide range of inputs from nontechnical members of a company and provides access on the go via mobile devices.
BEST PENSION PLAN ADMINISTRATION SERVICES
Increasingly companies want to hand over administration of their defined-benefit or defined-contribution pension plan to a third-party provider. Leading pension plan providers like
BEST MOBILE SOLUTION
BEST TREASURY WORKSTATION
Customers of AvantGard Treasury Enterprise (Quantum) for complex treasury operations say it offers them a real-time view of their global risk and cash positions.
BEST HOSTED TCM SOLUTION
SunGard
SunGard's hosting environment provides a single point of contact with an increased level of support, troubleshooting and fast turnaround. To support growing demand, including Cloud-based offerings, SunGard has invested in data centers with high availability and created centers of excellence to support private Cloud operations.
BEST SAAS OFFERING
Recent innovations include launching an online client self-service portal, Kyriba Social, and a mobile app.
BEST ERP SOLUTION
SAP
Recently SAP announced that it would combine its Cloud and on-premise offerings into a single offering, SAP S/4HANA, which incorporates a simplified data model designed to enable financial officers to more quickly access information to support and optimize financial decision-making.
BEST SWIFT UTILITY ACCESS
Fundtech BBP
In 2014, BBP received SWIFT's highest level of certification, which rewards those service bureaus that meet the highest standards around security, redundancy and processing of peak volumes.
BEST ANALYTICS
Citi Working Capital Analytics
BEST CASH FORECASTING SOLUTION
SAP
The SAP HANA database for SAP Business One is designed to deliver improved cash-flow forecasting by capturing a wider range of transactions, including sales and purchase orders, recurring postings and other cash-based transactions.
BEST CORPORATE RISK MANAGEMENT SOLUTION
Reval
Recent enhancements to Reval's platform include a real-time global view of financial exposures, cash and derivative positions. The platform also incorporates functionality to enable corporates to comply with requirements for reporting derivatives transactions under the Dodd-Frank Act in
BEST CORPORATE RISK ADVISORY SERVICES
EY
EY can advise companies on a wide range of risks, including cyberrisk, corporate fraud and regulatory risk, now that corporate treasurers are being challenged by regulations such as Basel III, Dodd-Frank and EMIR.
BEST TCM CONSULTANCY/ADVISORY SERVICES
In addition to advising companies on cash flow forecasting, FX risk and alternative sources of funding,
MOST INNOVATIVE NEW SOLUTION
Standard Chartered Straight2Bank Wallet_
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