The world's best at cash management and payments
Awards for Excellence 2002
Citibank lands this year's award as the best at cash management after holding off the challenge of a handful of other banks. Certainly Deutsche Bank will feel itself to be the closest competitor and Euromoney's first cash management poll, in late 2001, showed that to be the case with those two banks way out in front of the rest.
Little has happened in the interim to alter that balance of power. Although HSBC, ABN Amro and JPMorgan can all make good cases for themselves in certain local and regional markets, on a global scale they still have some catching up to do.
Cash management is a highly competitive market. Up to one-third of corporates will look to review and then possibly change their cash managers every couple of years.
Obviously price will always be a factor in their decision-making but corporate treasurers are also looking for a cash manager that can devise payment and collection products, back them up with good client service, offer a global network and be up to speed in the latest technology, particularly the internet.
The key for Citibank's progress, Ann Cairns, chief operating officer at Citibank, says, is being able to offer clients a worldwide service.