ANZ awarded Innovator in Transaction Services for Greater Mekong region

The lender has been lauded with its product innovation in transaction services, as well as its industry-leading automated collections, reconciliation and virtual account solutions.

The solutions, in particular, enable clients to automate a large amount of payments and collections. Many companies have traditionally reconciled their payments manually, physically reviewing data and matching individual transactions with their ledgers. The automated solutions thus help customers save costs, build scale, increase speed and improve accuracy.

“This product innovation is not just a leading solution for the Greater Mekong; it is a market-leading cash management solution for the banking industry. This recognition reflects our efforts to deliver solutions that meet our clients’ objectives and we are proud to successfully introduce this automated reconciliation technology – which was built in Australia – to the Greater Mekong region,” noted ANZ CEO Vietnam and head of the Greater Mekong Region Dennis Hussey.

“This is a strong differentiation for ANZ in an area that continues to be a challenge for many corporates,” said Aseem Goyal, ANZ head of Transaction Banking, Vietnam and Greater Mekong, adding that “our receivable management solution further demonstrates how we’re bringing leading technology from other parts of our geographic network and localising it to meet the unique requirements of our customers in Vietnam and the Greater Mekong region.”

“The Innovators - Transaction Services” is Global Finance magazine’s annual listing of global firms that are engendering innovation in treasury and transaction processing.

This recognition follows ANZ recently being named “Best Trade Finance Bank in Vietnam” for the second consecutive year and “Best Trade Finance Client Solution in Vietnam” in The Asset’s Triple A Treasury, Trade and Risk Management Awards 2016.

Also in 2016, ANZ was awarded “Best Trade Finance Bank” in the World’s Best Trade Finance Providers Awards 2016 by Global Finance magazine. The bank also gained “Best Risk Management Bank” in The Asset’s Triple A Treasury, Trade and Risk Management Awards 2015 and “Best International Trade Bank in Vietnam” consecutively in recent years by Trade Finance magazine.

In addition, ANZ has been ranked “Best Foreign FX Provider” in Vietnam for four consecutive years since 2012 by Asiamoney magazine.

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