Barclays Bank Botswana recognised for providing bespoke liquidity and bill payments solutions as it wins Best Transaction and Best Cash Management Bank in Botswana at The Asian Banker Middle East and Africa Risk Management and Transaction Awards 2019
- A strong focus on total client value proposition drove growth for transaction business
- Adding value through technological enhancements
- Continued investments in product and channel development
Dubai, 7 November 2019 – Barclays Bank Botswana received the award for Best Transaction and Best Cash Management Bank in Botswanaat The Asian Banker Middle East Risk Management and Transaction Awards 2019. The awards ceremony was held in conjunction with the International Finance Summit at Conrad Dubai.
From left: Nick Dove, International Resource Director, The Asian Banker; Tumi Mohubu, Head, Transaction Banking, Absa; Mobasher Zein Kazmi, Head of Research, The Asian Banker
A strong focus on total client value proposition drove growth for transaction business
Barclays Bank Botswana focused more on total client value proposition to deliver solutions that meet customer needs. It implemented tools that guides the sales teams in unpacking client businesses to understand the true pain points. For instance, the bank restructured the facilities with which they finance some of their clients as a result on their customer focus. Due to their customer-centric approach, the bank was able to drive growth in their market share for cash to 11% and trade grew to 45% in 2018.
Adding value through technological enhancements
The bank refined its banking strategy to shift focus away from competitive pricing, towards the value-added aspect of transaction banking business. Through the enhancement of their biller’s platform to offer full reference validation, the bank is now able to fully validate references on bill payments for utility companies. In addition, Barclays Bank Botswana implemented a same-day value service to beneficiaries and applicants for US dollars (USD) and South African rand (ZAR) payments and automated-proof of payment (MT103) for SWIFT payments. It also rolled out automated liquidity management platform to offer bespoke sweeping arrangement, especially to aid SME clients in their import financing and lending.
Continued investments in product and channel development
Barclays Bank Botswana rolled out several key innovative cash management products and product enhancements in 2018. The bank launched an automated liquidity management platform, which improved their sweeping service and target balance to include options for sequential and reverse sweeps, which are new market offerings. The bank also rolled out purchase order financing, a form of import financing offered specifically to small and medium size enterprises. Their product innovations and technology advancement are also reflected by the numerous mandates which the bank won in 2018.
About the programme
The Middle East and Africa Risk Management and Transaction Awards Programme is designed to identify emerging best practices and outstanding achievements of the best-run risk management teams and evaluate their achievements in cash management, payments, and trade finance business. Taking on an audit-based approach from 2018, the recipients of these awards were determined through a combination of surveys, interviews and field research by The Asian Banker’s research staff.
To know more about the programme, visit http://www.asianbankerawards.com/Middle-East-and-Africa-Awards/awards.php.
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About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, 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. The company’s website is www.theasianbanker.com.
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