Asian banks fight back in the transaction services war

It has long been debated whether Western banks are superior providers of transaction banking services compared with their Asian counterparts. Does their experience and their technology set them apart, or are Asian banks holding their own with their strong local networks and on-the-ground market presence

According to Markus Ohlig, Singapore managing director of Greenwich Associates, a US-based institutional financial services consulting firm, Western banks were the dominant service providers in Asia-Pacific before the global financial crisis, but things are changing. “If you look back at 2006 and 2007, the banking landscape for corporate and commercial banking services to the largest corporations in this...