Awards for Excellence 2017
Choosing the winner of the best bank for transaction services in Latin America was difficult. The shortlisted banks – BBVA, Citi and BAML – all demonstrated real growth and innovation in working within this politically and economically diverse region.
However, BBVA wins the award for best transaction services bank after demonstrating the most impressive body of work over the last year. The bank operates with both a local and global mentality, meaning it can provide on-the-ground services for its customers across Latin America, but also link them into its international correspondent banking network.
Working as a local bank, it can provide payments and collections services, as well as access to clearing houses in individual countries. Because the region has a complicated tax regime, BBVA has made investment in local collection points, and the bank has worked to ensure its customers have clarity around individual invoices and payments.
Leveraging the expert knowledge of the bankers across the different countries in the region has helped BBVA to gain market advantage. There has been a focus on up-skilling the individual teams by training them about the individual product sets.