Efficiency and sustainability top the post-pandemic cash management agenda
This year’s cash management survey sees banks looking beyond purely pandemic-related challenges to focus on sustainable finance and investment in technology.
Any discussion about disruption to traditional banking models necessarily focuses on transaction banking, which has undergone seismic change in recent years thanks to new digital-based competition and breakneck technological development. It is perhaps surprising, therefore, that in the middle of such a fundamental transformation the position of the leading banks in Euromoney’s annual cash management survey remains largely unchanged. HSBC again tops the survey, followed by Citi in second place and Deutsche Bank third.
The continued low interest rate environment means that banks are more focused on fee-based revenues and adding value at the transaction level, driving the need to add value through simpler digital solutions and straight through processing according to Drew Douglas, regional head of liquidity and cash management, North America, at HSBC.
“Our customers are looking to create efficiency in their own operations, which represents a huge opportunity,” he tells Euromoney.