The annual awards recognise banks for the quality of their service and their efforts to find new and better ways of meeting corporate clients’ needs. HSBC was also named:
- Best Bank for Cash and Liquidity Management for Asia Pacific
- Best Bank for Financial Supply Chain Management in Europe
- Best Bank for Financial Supply Chain Management in Asia Pacific
- Best Bank for Financial Supply Chain Management in North America
Two further awards reflect the bank’s ongoing investment in digital technology, which is helping business customers trade across borders, manage money and accept payments quickly and efficiently (see box). These are:
- Best Bank for a Mobile Treasury Solution (for our mobile payments service for corporate clients in India)
- Best Bank for a Trade Finance Solution (for the Tradeshift online platform)
Diane S Reyes, Head of Global Liquidity and Cash Management (GLCM), HSBC, said: “GLCM has been an engine for growth and strategic investment in digital transformation. We were named Best Global Cash Manager in the recent Euromoney Cash Manager Survey and these latest awards cement our position as the number one provider of liquidity and cash management solutions globally. Over the past year alone HSBCnet Mobile has grown 55 per cent by volume and more than 60 per cent in value. It’s proof our digital strategy is working and I’m very pleased to see our efforts are being recognised globally.”
Investing in digital
HSBC is investing to expand and improve the digital services it offers, including by supporting the Unified Payments Interface (UPI) in India. This online payment system was launched by the non-profit National Payments Corporation of India to help the country move towards becoming a cashless society. HSBC’s UPI app allows business customers to receive payments using mobiles as a quick, convenient and secure alternative to cash.
Business customers in India and in many other markets can also use the HSBCnet Mobile app to access accounts and make payments using a smartphone. The app has grown rapidly in popularity, with customers using it to make more than USD200 billion of payments globally since its launch in 2011. The bank continues to invest in and make improvements to the app. For example, in more than 30 markets worldwide customers can now log on using their thumbprint, a form of verification that is convenient as well as secure.
The bank’s strategic partnership with Tradeshift is a further example of its focus on digital services. An online platform lets business customers see all their transactions with buyers and sellers in one place, giving them a clear picture of their incomings and outgoings. Where the buyer and seller in a specific transaction both use the platform, they can settle bills automatically online, saving time and reducing paperwork.