FROM the first bank engagement to the final client call, the journey the board of editors at The Asset has taken over the past several months in evaluating the best transaction banks in the region has been a valuable one. Hearing stories of achievement and difficulty, the board of editors were impressed with the determination treasury professionals have shown in order to optimize their respective organizations.
A critical part of the awards process, Asset Benchmark Research’s (ABR) annual Treasury Review gave the board of editors an important insight into the reasons why treasury management professionals such as CFOs and treasurers pick certain institutions to partner with.
According to the latest 2020 data from the ABR’s Treasury Review, the majority of respondents cited speed of implementation as the top indicator of a great transaction bank, followed by readiness to customize and the rapid response times to client queries. According to one corporate treasurer who recently set up his Asian treasury hub, “speed wasn’t too important as long as the implementation was done correctly by our service provider.”
The Treasury Review 2020 also revealed that a company’s treasury department, more often than not, is willing to work with their current service provider, only changing in exceptional circumstances. Around 69% of respondents mentioned they had not changed their service provider with only 9% sharing that they had plans to reduce the number of providers they work with.
Based on the interactions with the treasury management community and feedback from this year’s Treasury Review 2020, the board of editors is pleased to reveal this year’s list of nominees for The Asset Triple A Best in Treasury, Trade, SSC (Sustainable Supply Chain), and Risk Management Awards 2020 who were able to fulfill many of the requirements set out by clients.
Furthermore, kudos to the winners of The Asset's Editors' Triple Star which feature solutions that reflect the views of The Asset Editorial team as forward-thinking innovative and pragmatic. It is interesting to note that local/regional banks have again stepped up their services over the past year with Kasikornbank's e-Tax Invoice/e-Receipt, Siam Commercial's MeTang and DBS' Rong-E Lian service showcasing this trend.
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