Deutsche Bank awarded Best International Trade Finance Bank in Asia Pacific at The Asian Banker Transaction Awards Programme 2019
- Profitable trade structuring and supply chain finance business drove healthy growth in overall business
- A buyer-backed credit deal for one of the largest oil companies in the world
- A product innovation with the implementation of Robotics Automation Processing (RPA)
Bangkok, May 30th, 2019— Deutsche Bank received the award for Best International Trade Finance 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.
Profitable trade structuring and supply chain finance business drove healthy growth in overall business
By putting in place a digital roadmap and strategic architecture plan as a first step in getting digitalization right, accompanied by gradual replacement of legacy systems with an end-to-end transformation of systems and processes, the bank drove the profitability of its trade flow business. Trade turnover volume edged 23% while gross margin of its trade business increased by a substantial 190%. It caters to more than 40% of multinational corporate clients through its trade franchise within its customer portfolio, holding an estimated market share of more than 18%. The bank’s trade finance outstanding value in Asia Pacific grew by more than 40% in absolute terms. These double- digit growth rates have been possible on account of the interest from multinational corporates for supply chain finance solutions and increasing interest from Asian corporates in leveraging the bank’s solution to unlock their capital and strengthen their end-to-end supply chain.
A buyer-backed credit deal for one of the largest oil companies in the world
For a client that is one of the largest oil companies in the world, it implemented a buyer-backed credit deal with financing a gas processing complex project in Uzbekistan. This is the first transaction that K- SURE (Korea Trade Insurance Corporation) is providing direct support to a Russian Sponsor. The K-SURE financing amount was used to partially finance the Korean automotive engineering portion of the EPC contract for constructing the gas processing complex project in Uzbekistan, which also benefited the Korean SMEs as the automotive engineering company procured a substantial portion of the equipment from Korea. K-SURE’s support also brought positive impacts to other Korean exporters, further opening up opportunities for Korean exporters to diversify in new markets where the availability of ECA financing is critical in winning new contracts. This transaction eventually helped the oil company to tap into the Asian financial market and further diversify its funding sources.
A product innovation with the implementation of Robotics Automation Processing (RPA)
Deutsche Bank implemented a Robotics Process Automation (RPA) solution in trade operations for repetitive data input. The use of RPA has reduced errors in manual data input and ensured the same data is correctly captured for subsequent processing. Meanwhile, RPA has also been implemented for Trade Based Money Laundering use cases. Moving forward, the bank is integrating robotics technology as a capability within the app development team. Additionally, the bank launched a new proprietary system to ensure automated and digitized reporting of import and export transactions to the Reserve Bank of India (RBI) which is the Central Monetary Authority in India. This has ensured automation, accurate and timely submission of transaction reporting to RBI and has increased operational efficiency in trade operations whilst shortening the time required for data and documentary matching.
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.
For all Business Achievement Awards 2019 photos, please visit https://bit.ly/2WcifTO
For further information on the collaterals for winning banks, please contact:
Mr. Alfred Labicassi
The Asian Banker