HSBC was the standout candidate in this award this year, dominating transaction banking in Asia.
The data supports this view. The bank was the largest trade finance bank by revenues in Asia in 2023, the number-one payments bank by market share and the leading regional securities services franchise. During the awards period, it processed 53 million real-time payments transactions in 15 regional markets and around 30,000 trade transactions each day. It is a market leader in cash management in 12 Asian markets and a top-three cross-border direct custody provider in 16 of the 17 Asia markets it serves.
AfE 2024
“That really speaks to the fact that all the investments we’ve made in the new payment channels are getting commercialized by our clients,” says Manoj Dugar, co-head of global payments solutions Asia Pacific at HSBC.
“We have seen strong growth across our business. We have consistently invested in our business, to make our payments services stronger, our receivables capacity stronger, our liquidity capabilities stronger.