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The relentless pace of Asian trade flows
08 September 2011
Both Asian and international banks continue to invest in their transaction banking platforms and trade services throughout the region. Dickon Harris assesses the mood and developments in trade, and asks how immune the region is to economic crises in the US and Eurozone.
Read more:
Asia trade finance
Eurozone crisis
global financial crisis
supply chain finance
credit insurance
RMB trade finance
There has been visible continued investment in trans-action banking across Asia over the last 12 months. Many of these programmes are a continuation of an existing drive by banks to improve their trade services but Asian firms are now spoilt for choice as both inter-national and domestic banks compete for functionality. Economic development and increased intra-Asia trade has seen the region become an even more important market for transaction banking services as larger corporates move to open account financing and increasingly demand sophisticated cash and trade solutions.
Shivkumar Seerapu, regional trade finance product head for Asia at Deutsche Bank, notes: “Corporates continue to take steps to re-engineer their own processes, streamline their treasury operations and invest in systems and technology to take them into their next phase of business development.”
Global banks like Citi, HSBC, and newer entrants such as Barclays and Bank of America Merrill Lynch (BofAML)...
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