Global and regional wholesale banks deepen Asia engagement amid strong recovery

Bank of America (BoA), United Overseas Bank (UOB), Mizuho and Deutsche Bank stood out at The Asian Banker Business Achievement Awards, held alongside The Future of Finance Summit 2023 in Bangkok, Thailand, on 14 June.

BoA was recognised as the Best International Transaction Bank in Asia Pacific, for its transaction banking capabilities, including structured trade finance and innovative digital solutions. BoA was also awarded Best International Cash Management Bank for integrating artificial intelligence and machine learning on its CashPro platform.

Asia Pacific’s Best International Cash Management Bank was Mizuho Bank for its extended coverage of cash management services in locations like Myanmar and Cambodia.

The award for Best Asian Transaction Bank went to UOB for its initiatives in supporting customer value chains.

In transaction finance, Deutsche Bank was recognised as the Best International Trade and Supply Chain Finance Bank in Asia Pacific. It also picked up awards for Best Global (Multi-Currency) Clearing Bank in Asia Pacific and Best Euro Clearing Bank in Asia Pacific for handling dynamic and recurring cross-border payments through automation.

Customer-centric products were also recognised in the transaction finance category: Hang Seng Bank for API via DDI Solution; Kotak Mahindra Bank for Fusion Cash Management; OCBC Bank for the OCBC Business App; Bank of Ayudhya for its QR Cross-border Outbound Service; Techcombank for Collection Solution via Virtual Account service; and UOB (China) for Green Non-Recourse Account Receivable Purchase.

In the financial markets category, Kookmin Bank was named Best Custodian Bank in Asia for growth and profitability in the South Korean custodian-banking sector. With a track record spanning two decades, the bank has a market share of 15.70% across diverse sectors, including foreign and domestic investment trusts, and variable insurance deposits.

Other winners were: CTBC Bank (Best Custodian Bank in Taiwan); Kookmin Bank (Best Custodian Bank in South Korea); Bangkok Bank (Best Custodian Bank in Thailand); and for Best Custodian Bank in Vietnam, Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).

The banks that led in financial technology were China Construction Bank (AI Technology); Standard Chartered Bank (Banking-as-a-Service); HSBC (Lending); and Alex Bank (Cloud, with Temenos). OCBC Bank won for Best Anti-Money Laundering Technology, while the Best Financial Market Technology Implementation award went to HDFC Securities and TCS BaNCS.

In the Risk Management category, CTBC was recognised for Highest Achievement in Credit Risk Management.

The Bankers Choice Awards went to Bank of America and Arcelik Hitachi (Best Cash Management Project in Asia Pacific); UOB Indonesia and Lenovo (Best Financial Supply Chain Management in Indonesia); Deutsche Bank and Renew Surya Roshini (Best Corporate Trade Finance Deal in India); and Deutsche Bank and Flipkart (Best Supplier Relationship Management in India).

The Business Achievement Awards Programme recognises outstanding achievements in transaction banking, technology, risk, and financial markets across more than 70 different categories. Established in 2003, it is one of the industry’s most established programmes and identifies financial institutions and their corporate or technology partners for leadership, vision, and results.

Find out more about the awards programmes here: 

Read the Evaluation and Selection Criteria here: 

International Transaction Finance (APAC): 

Financial Technology Innovation: 

Financial Markets: 

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THE BUSINESS ACHIEVEMENT AWARDS 2023 WINNERS LIST

International Transaction Finance Awards (Asia Pacific)

Best International Transaction Bank—Bank of America

Best International Cash Management Bank—Bank of America

Best International Trade and Supply Chain Finance Bank—Deutsche Bank

Best Asian International Transaction Bank—United Overseas Bank

Best Asian International Cash Management Bank—Mizuho Bank

Payments and Currency Clearing Awards (Asia Pacific)

Best Global (Multi-Currency) Clearing Bank—Deutsche Bank

Best EURO Clearing Bank—Deutsche Bank

Transaction Finance Awards by Country

Best Cash Management and Transaction Bank in Bangladesh—BRAC

Bank Best Trade Finance Bank in China—Ping An Bank

Best Cash Management and Transaction Bank in Hong Kong—Bank of China (Hong Kong)

Best Payments Bank in Hong Kong—Hang Seng Bank

Best Cash Management and Transaction Bank in India—Kotak Mahindra Bank

Best Trade Finance Bank in Indonesia—OCBC NISP

Best Cash Management Bank in Malaysia—United Overseas Bank

Best Trade Finance Bank in Malaysia—Maybank

Best Transaction Bank in Macau SAR—ICBC Macau

Best Cash Management Bank in The Philippines—RCBC

Best Cash Management and Transaction Bank in Singapore—OCBC Bank

Best Trade Finance Bank in Singapore—OCBC Bank

Best Supply Chain Finance Bank in Singapore—United Overseas Bank

Best Trade Finance Bank in Taiwan—CTBC Bank

Best Trade Finance Bank in Thailand—Bangkok Bank

Best Payments Bank in Thailand—Bangkok Bank

Best Cash Management and Transaction Bank in Vietnam—Techcombank

Best FX Bank in Vietnam—BIDV

Frictionless Transaction Awards (Asia Pacific)

Best API Initiative—Hang Seng Bank Hong Kong, ‘API via DDI Solution'

Best Blockchain Initiative—CTBC Bank Taiwan, ‘Early Payment Program’

Best Business Ecosystem Initiative—Kotak Mahindra Bank India, ‘Fusion Cash Management'

Best Corporate Mobile Initiative—OCBC Bank Singapore, ‘OCBC Business App’

Best Digital Trade Finance Platform—CTBC Bank Taiwan, ‘Smart Document Review System’

Best Financial Supply Chain Initiative—Ping An Bank China, ‘Note Integration Service’

Best Payments Initiative—Bank of Ayudhya Thailand, ‘QR Cross-border Outbound Service'

Best Treasury Management Initiative—Industrial Bank, ‘IB-SWIFT'

Best Virtual Account Management Solution—Techcombank Vietnam, ‘Collection Solution via Virtual Account’

Most Sustainable Trade Finance Initiative—United Overseas Bank (China), ‘Green Non-Recourse Account Receivable Purchase’

Bankers’ Choice Awards—Bank-Client Partnership Awards

Best Cash Management Project in Asia Pacific—Bank of America and Arcelik Hitachi

Best Corporate Trade Finance Deal in India—Deutsche Bank and Renew Surya Roshini

Best Supplier Relationship Management in India—Deutsche Bank and Flipkart

Best Financial Supply Chain Management in Indonesia—UOB Indonesia and Lenovo

Financial Technology Innovation Awards

Best AI Technology Implementation—China Construction Bank (CCB)

Best Banking-as-a-Service Implementation—Standard Chartered, 'Nexus'

Best Lending Implementation—HSBC

Best Blockchain Implementation—China CITIC Bank

Best Mobile Banking Technology Implementation—ICICI Bank

Best Cloud Based Implementation (Large Bank)—China Construction Bank (CCB)

Best Cloud Based Implementation (Small Bank)—Alex Bank and Temenos

Best Financial Markets Technology—HDFC Securities

Best Data Management Implementation—Industrial and Commercial Bank of China (ICBC)

Best Process Automation Implementation—Industrial and Commercial Bank of China (ICBC)

Best Treasury Management Implementation—Ping An Bank

Financial Technology and Platform Awards 

Best Business Lending Technology—Online PSB Loans

Best Financial Inclusion Technology—LTS Ventures

Risk Management Awards 

Achievement in Credit Risk Management—CTBC Bank, ‘CTBC Guardian - Next Generation Digital Credit Evaluation’

Financial Risk Technology Implementation Awards 

Best Anti-Money Laundering Technology Implementation—OCBC Bank

Best Credit Risk Technology Implementation—Bank of Beijing

Best Liquidity Risk Technology Implementation—DBS

Best Custodian Bank in Asia

Best Custodian Bank in Asia—Kookmin Bank

Best Custodian Bank by Country

Best Custodian Bank in China—ICBC

Best Custodian Bank in South Korea—Kookmin Bank

Best Custodian Bank in Taiwan—CTBC Bank

Best Custodian Bank in Thailand—Bangkok Bank

Best Custodian Bank in Vietnam—BIDV

Best Custodian Bank in Malaysia—Maybank