Global and regional cash management banks across Asia-Pacific are making sub-stantial investments in digital initiatives to enhance the overall transaction experience of their clients.
November 07, 2018 | Siddharth Chandani
- Changing role of corporate treasury from basic cash management functions to more complex and centralised functions have driven banks to offer products that are designed to enable greater automation and efficiency
- An increasing interest rate environment demands efficient working capital performance
- Global financing and payment needs are ever complex, requiring application of innovative solutions to optimise transaction turnaround times and lower costs
In the latest Asian Banker annual survey of transaction banking trends across Asia-Pacific, continuous investment in digital channels and focus on client needs, emerged as dominant themes. The nature and structure of cash management services has continuously evolved with the proliferation of new digital innovations such as APIs, distributed ledger technology etc. With greater thrust in digital transactions, banks are identifying various ways in which they can drive innovation for their clients. Changing role of corporate treasury from basic cash management functions to more complex and centralised functions have driven banks to offer products that are designed to enable greater automation and efficiency.
From doing tactical improvements in order to make clients day-to-day life easier and migrating clients from high-cost payment to low-cost payment channels, banks listed timely access to cash flows, managing transactions on the go, optimising account structures and offering better visibility and control of working capital functions as major client imperatives in 2018.
Earmarking substantial investments to grow digital channels
An increasing interest rate environment demands efficient working capital performance. Corporates are responding to offset the higher costs of borrowing by improving the flow of their cash. In response to gradual tightening of monetary conditions and demand from corporates, banks have re-focused attention to op...
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Keywords: Transaction Banking
, Cash Management Services
, Digital Innovations
, Distributed Ledger Technology
, Digital Solutions
, Cross-border Transactions
, Cash Management