The growing presence of the regional banks in the cash management space is becoming ever more apparent in the results of the cash management survey 2017.
Both the financial institutions (FI) and non-financial institutions surveys received a sizeable number of votes, with 26,000 verified for the non-FI poll and 2,500 in the FI survey.
In the global non-FI results, the top four remain unchanged for another year. HSBC rounds off a successful year as it takes the top spot, followed by Citi, Deutsche Bank and BNP Paribas.
However, there is an interesting power shift happening further down the table. Regional banks are creeping up in terms of their market share, with a leap from DBS, which rose to fifth place from 17th last year.
Slightly further down there is also impressive results for Bank of China, which climbs to seventh place from 13th, and Mizuho, which breaks into the top 20 with a 12th place ranking. Predicted changes to the cash management landscape, with a shift towards specialist regional banks, appears to be playing out.
In the regional results, the global players are still holding on tight. There is no change in the top place from last year in each region, meaning solid results for HSBC, Deutsche Bank and Citi again. Bank of China bucks the trend in Asia, holding off HSBC for the second consecutive year.
It was a different story in the financial institutions space, as Standard Chartered leaped up the table. Ranked in ninth place last year, the 2017 survey saw the bank nudge Deutsche Bank down one spot to take the third place in the table. The bank sits behind HSBC and Citi, which continue to hold on to the first and second place respectively.
There were also impressive moves for DBS, breaking into the top 10 in ninth place from last year’s 13th. The most impressive push came from BNP Paribas, now sitting in fifth place after coming only 21st in 2016.
On a regional level, HSBC has enjoyed a rise to first place for euro clearing in western Europe, matching its results for sterling and dollars. Only Sumitomo Mitsui Banking Corporation is stopping it from having a clean sweep of currencies by beating it to the top place for yen transactions.
This period of upheaval in cash management providers might be slowing down, with the editorial questions indicating the demand for new bank services is declining. Among the respondents, 58% stated they had re-evaluated their cash management relationships by RFP in the past 12 months.
However, when looking ahead to the coming year, just 6% stated they were looking to change the number of providers they work with.