North America’s best bank for transaction services 2018: HSBC

Awards for Excellence 2018

As treasurers see changes across the digital and regulatory landscape, they are also grappling with the arrival of new legislation. So having a strong footprint in multiple markets can be invaluable for a bank when clients are coming for advice. Those who are customers with HSBC, North America’s best bank for transaction services, are seeing the advantages.

Having to navigate the new rules on imports and exports implemented by the current US government, combined with the relaxing of tax laws permitting the inflow of funds, is a lot for treasurers in North America to deal with. Some clients are looking to repatriate cash to pay down their debts, while others worry about their cash flows. 

Also thrown into the mix are the uncertainties of Brexit, which impacts more than just those companies headquartered in the European Union.

HSBC is taking all this in its stride. With comprehensive international coverage, it is able to leverage its knowledge base. It has stepped up advisory services to keep its clients informed and operating to full capacity.

With trade policy changes in the US, the bank is constantly working to keep clients up to date on how any new legislation could impact them. That means also taking care to inform them of the implications on their supply chains, with advice and assistance on how to keep things flowing.

For those operating in Europe, HSBC is helping clients navigate rules that are not transferrable into the US. There may be some who have been operating virtual accounts out of Europe who now cannot pool multiple entity cash into one location. Those with operations in the UK are being advised on if and when they should be move to another location to keep their European operations running smoothly.

Like the regulatory landscape, the pace of technological change remains demanding. In North America HSBC has been working to develop new technology in a sandbox environment in collaboration with MIT labs.