Cash management survey 2017: Regional banks set the pace
At first glance Euromoney’s global cash management survey 2017 results suggest that it is business as usual, but digging a little deeper into the rankings reveals that some regionals are setting new standards in quality of service.
At first glance not much looks different for cash management in 2017. The global results for the non-financial institutions category saw the top four ranked banks remain the same year on year. HSBC once again takes first place, followed by Citi, Deutsche Bank and BNP Paribas. By all appearances their global scale and operational prowess remain unchallenged.
In large part, they are meeting the needs of their many clients. The truly global multinational corporations will always need a bank they can work with to consolidate their cash management requirements across multiple territories. It looks like a continuation of last year’s rankings.
The results in the best service category tell a slightly different story, however. Here, corporates can give their thoughts on their cash management providers and their services. Some banks may have the scale, but their customers are clearly not registering the same levels of satisfaction as those at their smaller counterparts.
The most telling difference between the global rankings and the global ratings is the complete absence of Deutsche from the top five in the best services category. Despite its second place global ranking and its top spot in western Europe and Germany, the satisfaction levels registered by its customers are coming up short.