HSBC has been named the world’s best cash management bank by over 30,000 corporate treasurers in the Euromoney 2024 survey. The bank was recognised for its excellence across various categories and regions, particularly for its global reach and comprehensive solutions.
As the global banking landscape continues to evolve, HSBC has remained focused on its clients.
A strategic partner, beyond transactional support
The bank’s success is rooted in its ability to generate valuable insights from the vast data it processes and its experience serving corporates of all sizes, across different geographies and industries. This allows the bank to truly understand its clients’ needs and craft tailored solutions.
Our mission is to continually focus on client experience – everything from our onboarding process to the solutions and advice we provide, as well as delivering exceptional service. Client experience is the key metric I look at every day
One corporate treasurer notes: “HSBC goes beyond transactional support. They actively share industry-specific best practices that have helped us refine our financial strategies.”
Manish Kohli, head of global payments solutions, tells Euromoney:
“HSBC has a unique advantage: we serve customers across multiple geographies, covering markets that account for over 90% of the world’s GDP and process over 1,500 currency pairs. We also work with clients at different stages of growth, spanning all industry segments.
“With some of these companies, we have partnered since our – and their – foundation, nearly 160 years ago. This longstanding relationship has enabled us to establish the Treasury Solutions Group, leveraging our history, experience and vast data to provide unique insights to our clients.”
HSBC’s story is not only about the breadth of its network, but also about its depth. Kohli emphasised that while other banks might be focusing on institutional, corporate or small businesses in select markets, “HSBC is an at-scale provider across segments and regions. This scale benefit extends beyond processing power to their end-to-end payments proposition — from R&D and talent, to servicing clients in 40-plus languages and supporting their journey across the treasury maturity spectrum.”
Corporate treasurers confirmed that HSBC’s reach and its team’s expertise have supported their treasury transformation journeys, with one respondent stating: “They’ve become an indispensable part of our decision-making process.”
Consistent service through a global network
Another key factor in HSBC’s success is its expansive global network. With capabilities spanning cash management, trade finance and foreign exchange, the bank’s international reach is complemented by deep local market expertise. “The ability to operate across both domestic and international markets while utilising a wide array of products is a testament to the bank’s global reach,” notes one corporate client.
Strategic partnership in practice: HSBC & Holcim
Holcim transformed its treasury operations by partnering with HSBC to centralise and optimise liquidity management. This streamlined approach enhanced visibility, control and efficiency, while reducing costs and maximising returns on excess funds. HSBC’s innovative tools provided real-time automation, enabling simplified management of Holcim’s global treasury operations.
Clients also highlighted HSBC’s support in markets without a physical presence, where its partner banks and digital platforms ensure smooth cross-border transactions, crucial for companies in a connected global economy.
HSBC’s consistent global experience is backed by its servicing approach, introducing global account managers and implementation managers, clients benefiting from a single point of contact wherever they operate. “Beyond standardising products and simplifying documentation, we recognised that delivering a truly global service requires a shift in culture and mindset,” Kohli explains. “While this is an ongoing journey, we are already seeing success.”
Innovation at the core
HSBC’s innovation journey has earned praise from clients for its ability to offer new solutions. Its digital banking platforms provide flexibility and connectivity, enabling clients to customise transactions and access advisory services as needed. “The range of innovative products has significantly enhanced the value of our financial strategy,” one client comments, with another respondent highlighting: “Whether it’s tailored investment solutions or cutting-edge payment platforms, HSBC consistently gives us tools that offer a competitive advantage.”
Kohli noted that innovation is a continuous journey. “We live in a world where technology evolves daily, and the infrastructure in the 55 markets we operate in is constantly changing,” he says. “Our focus is on product development to ensure our clients can use cash management tools efficiently to differentiate and win in their markets.”
A journey of excellence
HSBC’s commitment to providing actionable insights, leveraging its global network, and driving product and technological innovation has solidified its position as the world’s leading cash management bank.
Ana Voicila, head of transaction banking at Euromoney, concludes: “Corporates’ feedback proves that HSBC excels in delivering strong client service and innovative solutions that meet the unique needs of businesses worldwide. Their ability to simplify complex challenges, offer seamless international support, and consistently enhance the client experience has made them the preferred cash management partner for many.”