OCBC Bank recognised for strong working capital solutions and digital trade platform as it wins Best Trade Finance Bank in Singapore at The Asian Banker Transaction Awards 2019

• A re-defined working capital philosophy embedding deep client relationships and end-to-end trade finance solutions drove strong business performance
• OCBC Bank has a strong regional footprint with deep presence in core Asian markets
• Digitalising trade finance with the launch of new features on Velocity@ocbc business internet banking platform

Bangkok, May 30th, 2019 — OCBC Bank received the award for Best Trade Finance Bank in Singapore at The Asian Banker Transaction Awards 2019. The award ceremony was held in conjunction with the prestigious Future of Finance Summit 2019, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, held at the Shangri-La Hotel, Bangkok, Thailand.

In the picture: In the picture: Mathew Welch and Bill Chua; International Resource Directors, Siddharth Chandani; Researcher; The Asian Banker with Ms. Yap Kwee Hong; Head- Global Trade Finance; Global Transaction Banking and Ms. Grace Teo; Head- Operations & Technology; GCB Cluster, OCBC Bank

A re-defined working capital philosophy embedding deep client relationships and endto-end trade finance solutions drove strong business performance

Strong product capabilities, a comprehensive trade finance platform and market collaboration helped OCBC Bank to deepen and grow client relationships whilst providing end-to-end working capital solutions. Its strategy to maximise returns with given resources and right quantum investments in making digital enhancements has allowed the bank to achieve trade business volumes in excess of 20%. While enhancing the sustainability of its trade finance business, OCBC Bank has continued to embark on initiatives that meet clients’ specific and complex business needs by offering them simple but intuitive customer experience. Working capital capabilities are additionally supplemented by Supply Chain Finance (SCF) solutions to improve customers’ cash flows.

OCBC Bank has a strong regional footprint with deep presence in core Asian markets

The bank draws deep knowledge of business flows in Southeast Asia from its strong presence in the core markets of Indonesia, Greater China, Malaysia, Myanmar, Singapore, Thailand and Vietnam. A wider geographical footprint has helped the bank in deepening its reach and capabilities to deliver scalable and sustainable outcomes for its trade finance clients. For instance, the bank’s presence in the frontier market of Myanmar as a fully licensed bank, cements its position as a foreign market leader in terms of providing business internet banking platform to corporates in Myanmar. Corporates in Myanmar can now access business accounts conveniently and initiate transactions from anytime, anywhere. On the other side of the spectrum, a strong branch network presence in Indonesia supports understanding of local business environment to ultimately provide tailored solutions to customers.

Digitalising trade finance with the launch of new features on Velocity@ocbc business internet banking platform

Strengthening the delivery of its working capital solutions via its business internet banking platform, Velocity@ocbc. The platform enhanced new capabilities such as invoice financing, management of all trade finance activities on a single platform, seamless account viewing for better reconciliation and mobile authorisation of trade finance application on the go. The platform boasts of features such as Biometric login authentication and Voice banking to enhance the usability of its interface. The seamless customer experience while making a trade finance application sets the platform apart from the bank’s local peers.

The Asian Banker Transaction Awards Programme, refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind in Asia Pacific. Recipients of these awards are honoured in a gala event that recognises their efforts in bringing superior products and services to their customers. A stringent and comprehensive evaluation process determines the awardees. For specific details relating to description of the awards, evaluation criteria and process, kindly visit http://www.asianbankerawards.com/transactionawards/index.php.

About The Asian Banker

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services, and forums.

To view the Business Achievement Awards 2019 gallery, please visit https://bit.ly/2WcifTO.
For further information on the collaterals for winning banks, please contact:

Mr. Alfred Labicassi
The Asian Banker
Email: alabicassi@theasianbanker.com