Whether it be the drive for digital automated processes or increased competition in the marketplace there is no denying that transaction banking services within Asia have continued to break new ground. From efficient cash pooling structures to the development of supply chain finance programmes, clients are expecting bespoke and impactful treasury solutions from their banking partners.

Overall transaction banking client satisfaction in Asia has continued to improve based on feedback from international and local banks. That’s according to The Asset’s Client Satisfaction Index, which this year is based on the views of close to 1,200 CFOs and treasurers in the Asia region.

Conducted by Asset Benchmark Research (ABR) in February 2018, participants were asked how satisfied they were with their respective bank’s services through a series of online surveys and interviews. ABR has been conducting data assessment of Asian-based CFOs and treasurers over the past six years.

In 2018, the index revealed that both the satisfaction rate of international and regional banks increased by 3% and 5% respectively. Regional banks specifically sought new ways to differentiate themselves from the traditional transaction banks.

DBS, for example, launched a simulation tool known as “DBS Prism” to guide treasurers/CFOs in setting up their treasury function in respective markets, while, CIMB refocused its trade finance business to target companies interested in Islamic trade finance services.

Thai banks saw the biggest jump in client satisfaction rising from 45% to 55%. Over the past year, banks within the Southeast market have made a push to revolutionize their offerings embracing blockchain technology and utilizing mobile wallets to give clients better control of their treasury functions. Siam Commercial Bank, for instance, worked closely with various local universities such as Kasetsart University in creating a cashless campus eco-system.

Chinese banks likewise saw continued improvement during this year’s CSI notching up a 5% increase in client satisfaction.

Local banks such as China Merchants Bank like their regional peers continued to focus on increasing their digital services. In 2017 the bank launched its Cross-Banking System a platform that allows treasurers/CFO to have a single window view of all their corporate accounts without using various banking tokens.

“The two major things I care about when we are choosing our banking partners are IT and service,” shares a treasurer of a Chinese company. “Without a good IT system, you have to have extremely good service in a bid to win our business.”

To see the list of rankings and information about our methodology please click here.

To see last year's full list of rankings please click here.

To learn more about our Treasury Review please click here.

For country and service analyses please get in touch with ABR at [email protected]