Best banks for transaction banking revealed

Overall satisfaction rankings examined both cash management and trade finance services indicating several banks improved their positions while others fell behind

The ability to create customizable liquidity structures or offer flexibility to suppliers when onboarding onto a supply chain finance programme were two attributes that stood out for treasury professionals according to this year's Asset Benchmark Research's client satisfaction index (CSI).

This year's overall satisfaction rankings examining both cash management and trade finance services indicates several banks improved their positions while others slid down the rankings.

Claiming this year's highest overall CSI was DBS, up from being runners up  last year. The regional bank has been steadfast in continuously incorporating digital into its DNA. Last year, DBS launched its online DBS Treasury Prism tool, which allowed users to stimulate various cash management scenarios. This year, co-creation was another core principle for DBS, with the bank working with several clients on bespoke solutions that could be broadened to the wider industry.

Leading the race concerning overall satisfaction for local banks was Bank of Communications, a bank that rose from fourth place last year to second in the overall CSI. The bank launched several key products that stood out for its client base, such as a bank acceptance draft lending platform and an electronic bidding platform. Other Chinese banks, such as Agricultural Bank of China and Shanghai Pudong Development Bank (SPDB), likewise rose in this year's satisfaction rankings, with SPDB jumping into the top ten for the first time in the CSI's history.

Standard Chartered saw a slight improvement in its CSI ranking, moving up from sixth to fourth place this year. The bank this year focused on integrating with various financial stakeholders, such as payment services providers and supply chain management platforms. Standard Chartered aspires to give clients a seamless experience when transacting on the bank's global network. For instance, the bank worked with British American Tabacco (Bangladesh) in crafting a cash management solution, allowing the company to pay workers via domestically used mobile wallets.

The CSI also revealed several ranking drops. Deutsche Bank, which topped last year's CSI, fell to sixth place, while banks such as Taipei Fubon Commercial Bank and ICBC dropped from third to fifth and eighth to ninth, respectively.

Conducted by Asset Benchmark Research (ABR) in February 2018, participants were asked how satisfied they were with their respective bank's services through a series of online surveys and interviews. ABR has now been conducting data assessment of Asian-based CFOs and treasurers for six years. This year's CSI is based on the survey views of close to 1,200 CFOs and treasurers in the Asia region.

To see the list of rankings and information about our methodology please click here.

To see last year's full list of rankings please click here.

To learn more about our Treasury Review please click here.

For country and service analyses please get in touch with ABR at research@theasset.com