Editorial

RHB Banking Group recognised for its integrated, single-sign on platform for cash, payments and supply chain solutions as it wins Best Cash Management Bank in Malaysia at The Asian Banker Transaction Awards 2019

By The Asian Banker

  • Solid and unique product propositions drove strong financial performance for RHB Bank
  • A structured cash management solution for a large low-cost aviation client
  • Enhancements to cash management solutions via RHB Reflex

Bangkok, May 30th, 2019 — RHB Banking Group received the award for Best Cash Management Bank in Malaysia 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 Dev Raaj A/L Shanmugam, Head; Cash Management and Mr Chung Chee Kai; Head; Transaction Banking; RHB Banking Group

Solid and unique product propositions drove strong financial performance for RHB Bank

The bank’s cash and working capital solutions catered to clients’ needs of accelerating payments and receivables whilst optimising surplus cash and minimising their cost of business funding. The bank’s stellar performance for cash its management franchise was driven by churning out unique product solutions to meet clients’ complex needs across cash, payments, supply chain and trade. Cash management revenue increased 19.8% while profitability rose 20.4%. Although evolution transaction climate lowered revenue from fee income, the bank kept its gross margin stable via its continuous focus on embracing innovation to achieve specific business outcomes.

A structured cash management solution for a large low-cost aviation client

Given its expertise in domestic notional pooling and liquidity management, the bank increased returns on surplus cash balances for a large, low-cost aviation carrier. The client was looking to reap maximum returns from its idle cash balances with flexibility to transfer/use funds within short notice, but was challenged by TAT for liquidity. It implemented solutions that helped the corporate to aggregate current account balances across multiple entities to maximise returns, resulting in incremental interest returns for the client and additional CASA for the bank. The bank is also mandated to process its payroll services, which runs in excess of USD 10 million per month.

Enhancements to cash management solutions via RHB Reflex

The bank made enhancements to its integrated, single-sign on platform comprising solutions to not only cater to cash and payment needs but also financial supply chain and trade functions. The RHB Reflex online cash management platform minimises manual and cumbersome operational processes and is interfaced to its treasury system to enable foreign payments and investment of excess funds to be done online. Enhancements via web-based portal and mobile propel 24/7 hours authorisation and visibility of payments while client is on the go. The enhancement additionally, entailing a new onboarding process improved the onboarding TAT from 14 days to 3 days.

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



From Our Sponsors
From the Web