Advanced technologies, real-time transaction capability, and innovative short-term capital instruments are helping APAC banks keep up with a demanding clientele.
Leading financial institutions in the Asia-Pacific transaction banking sector are continually innovating to address the diverse and complex requirements of businesses in this fast-paced and evolving market. This year, several banks have stood out by embracing advanced technologies, crafting customized solutions, and consistently surpassing client expectations, thereby defining the future of financial services throughout the region.
Best Bank for Transaction Banking | DBS
DBS Bank embarked on a digital transformation last year, leveraging data analytics and AI to offer a new crop of digital solutions. This has enabled DBS to deliver innovative banking services that scale with diverse business needs, helping clients navigate a complex and increasingly uncertain operating landscape.
Its digital transformation also helped DBS earn titles as this year’s Best Bank for Transaction Banking, Best Bank for Financial Institutions, and Best Bank for Long-Term Liquidity Management.
Lim Soon Chong, group head of Global Transaction Services at DBS, explains the logic behind DBS’ transformation: “For small and midsize enterprises [SMEs], as well as growth-focused corporates, we’ve combined complex digital capabilities across virtual accounts, real-time ledgering, and FX into an integrated solution: DBS Platform Services. With this, clients can manage everything seamlessly, from customer onboarding to transactions, reconciliations, and FX management. Our cross-border payment solution, DBS GlobeSend, helps clients cost-effectively capture opportunities in emerging trade corridors.”
For multinational corporations, DBS’ liquidity-management solutions optimize intragroup fund transfers, with built-in dashboards providing comprehensive visibility over cash flows and balances.
“These initiatives reinforce our commitment to support clients across business cycles,” Soon Chong says. “Our strong customer-satisfaction ratings and growth in digital customer acquisition validate the value we provide.”
Best Bank for Cash Management & Best Bank for Payments | Oversea-Chinese Banking Corporation (OCBC)
OCBC provides clients with real-time visibility and control over their cash positions through a comprehensive suite of integrated solutions. The bank’s regional business banking platform, OCBC Velocity, offers real-time transaction tracking, balance updates, and advanced reporting, providing a holistic financial view.
“Virtual Accounts simplify reconciliation by assigning dedicated account numbers; while APIs enable seamless, real-time data exchange,” explains Melvyn Low, head of Global Transaction Banking.
Advanced technologies, including blockchain-based conditional payments and AI-driven fraud detection, further enhance transparency and security.
“Additionally,” says Low, “our regional payment gateway provides a seamless interface for cross-border transactions across ASEAN [the Association of Southeast Asian Nations] and Greater China, enabling efficient cash management.” By leveraging digital technologies, OCBC empowers clients to optimize liquidity and streamline operations.
Best Bank for Collections | Bank of America
Bank of America is this year’s Best Bank for Collections. Solutions include Intelligent Receivables, a digital matching solution powered by AI and machine learning; reference accounts for tracking transactions; and real-time payment (incoming) for instant fund reception, 24/7.
Best Corporate Cross-Border Payments Solutions| ANZ
“As a bank focused on supporting our customers’ treasury digitization,” explains Adesh Sarup, head of ANZ Transaction Banking, International, “our payment solutions are delivered via ANZ platforms that provide robust data, strong security protocols, and interfaces with regional payment networks.”
Clients choose ANZ Philippines for its tailored, locally relevant solutions that accelerate the cash-conversion cycle and enhance access to critical financial information, says Nikolai Buncio, head of ANZ Transaction Banking for the Philippines, adding that “Our dedicated local team consistently exceeds client expectations by delivering exceptional service and leveraging innovation.”
Best Provider of Short-Term Investments/Money Market Funds | Industrial Bank of Korea (IBK)
IBK’s treasury division proactively develops and provides short-term investment vehicles tailored to meet investor requirements. The bank’s SME finance bonds, which it issues exclusively, secure stable funding for SMEs. Unlike conventional bank bonds, SME bonds can be issued through both wholesale market transactions and over-the-counter placements.
