Supporting clients through uncertain times. Regional TCM banks are building out their networks to expand their client base while investing in new technologies, including digital money.
Corporate treasurers in Western Europe are navigating an uncertain landscape marked by ongoing economic volatility, rapid technological change, and an evolving regulatory environment. The region’s leading TCM banks aim to meet treasurers’ needs with a continuing investment in new technology. This includes pioneering digital money; expansion of services, including the streamlining of collections; and a commitment to regional and global networks; all while enhancing in-house efficiency.
Best Bank for Transaction Banking | Societe Generale
Last year Societe Generale launched a unified Global Transaction Banking offering across more than 40 countries. The service supports international growth for 71,000 corporate and financial institution clients, processing 18 million daily transactions and exchanging over €600 billion (about $704 billion). Recent additions include a European Investment Bank green financing solution, a global booking option, SEPA (the EU’s Single Euro Payments Area) Instant Payments expansion to Austria and Luxembourg, SEPA Instant Credit Transfer through the bank’s Milan desk, warehoused payments, and a cross-border application programming interface with a 20-minute rate guarantee.
Best Bank for Cash Management | ING
ING is building up its capabilities in multiple forms of digital money, including stablecoins and tokenized deposits, in collaboration with its corporate clients. To enhance ING’s interbank payments and client-service capabilities, the bank is an active shareholder in Fnality, a blockchain-based wholesale payments firm, and participates in the European Central Bank’s New Technology Working Group.
Recent geopolitical developments are a key concern for crossborder TCM banks, as fragmentation and boundaries in international transaction services increase, notes Annelinda Koldewe, ING’s global head of Payments and Cash Management.
“We see this reflected in a shift back to regional treasury structures,” Koldewe says. “This evolution highlights the importance of a solid regional network such as ours. Corporates can rely on us even in more-challenging times, as we continue to support our clients in Ukraine.”
ING participates in the European Payments Initiative and its Wero digital wallet, which Koldewe notes is attracting merchants and corporates as an alternative to traditional international card schemes. Along with ING’s robust presence in Central, Eastern, and Western Europe, the bank is looking to further strengthen its capabilities in Southern Europe.
Best Bank for Long-Term Liquidity Management| BNP Paribas
BNP Paribas is widely recognized as one of the top tradefinance banks worldwide and the first in Europe. BNP’s comprehensive transaction banking and treasury offerings, notably long-term liquidity management, are further bolstered by an extensive global network aimed at making the bank a good fit for multinational corporations.
Best Bank for Collections| Nordea
The bank is focused on streamlining and automating business processes, including payments, with the aim of lowering costs in collections and allowing the application of more resources to complex cases.
Best Corporate Cross-Border Payments Solutions| HSBC
Leveraging its extensive global network with a strong presence in the UK and throughout Europe, HSBC offers sophisticated cash management and payment solutions, including new platforms like Smart Transact, which the bank launched last year to simplify international payments for businesses of all sizes.
Best Provider of Short-Term Investments/Money Market Funds| Deutsche Bank
Deutsche Bank’s asset management arm, DWS, offers a range of products designed for liquidity management and capital preservation. The Deutsche Managed Sterling Fund, for example, aims to provide a high level of current income while preserving capital by investing in a diversified portfolio of sterling-denominated short-term debt instruments.
