BDO Unibank recognised for providing complete suite of payment and collection solutions as it wins Best Cash Management and Payments Bank in the Philippines at The Asian Banker Transaction Awards 2019
- Cash franchise experienced strong growth, driven by new relationships and expansion of existing ones
- Implemented a successful collection mandate for the country’s leading retailer of home building supplies, amid others
- Promoting cashless banking through its initiative, "Community Building”
Bangkok, May 30th, 2019 — BDO Unibank received the award for Best Cash Management and Payments Bank in Thailand 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: Mathew Welch and Bill Chua; International Resource Directors, Siddharth Chandani; Researcher; The Asian Banker with Mr. Edwin G. Reyes; Executive Vice President and Group Head; Transaction Banking; BDO Unibank
Cash franchise experienced strong growth, driven by new relationships and expansion of existing ones
Commitment to provide end-to-end cash solutions leveraging not only its large network of branches and ATM but its strong-loyalty driven relationships with clients drove growth for its cash business. Growth in cash management revenue pools doubled relative to 2017 profitability grew substantially by 89%. BDO Unibank’s overall cash business revenue surpassed 50% growth rate in the period under review, much faster than 16% in 2017.
Implemented a successful collection mandate for the country’s leading retailer of home building supplies, amid others
The bank in 2018 closed several marquee mandates that contributed to the growth of its CASA, including a mandate for one of the largest petroleum companies in the Philippines. An Electronic/Automatic Debit Arrangement deal allowed the client to collect fuel payments from all its dealers nationwide, bringing significant business to the bank. Another marquee mandate for of the country's leading retailer of home building supplies, involved successful installation of the bank’s Cash Deposit Machine, each in two of their stores. This successfully transformed the way the client manages its collection of daily sales/funds. The solution benefitted the client in terms of cost savings and efficiency in tracking its cash position, without having to wait for actual credit of deposits.
Promoting cashless banking through its initiative, "Community Building”
In its bid to promote cashless banking, BDO rolled out the "Community Building" initiative. Strategic to its cash business where, the initiative encouraged clients to have their own buyers and/or suppliers bank with BDO Unibank via electronic means. While this helped the bank increase its wallet share of deposits and clients, the initiative further accelerated its build of ecosystem. The initiative also paved way for its Business Development and Relationship managers to properly engage and on-boarded the new buyers and suppliers.
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