Asiamoney names HNB ‘Best Cash Management Bank in Sri Lanka’

HNB, Sri Lanka’s leading private sector bank, has been recognised by Asiamoney as the ‘Best Cash Management Bank in Sri Lanka’.

This prestigious award to HNB is a first for a local bank in Sri Lanka in cash management.

A part of the Euromoney Group, Asiamoney is considered among the most influential financial magazines and a leading authority on finance, banking, investment, and treasury in the Asia- Pacific region and is read and trusted by the region’s leading companies, bankers, brokers, investors, regulators and policy makers.

Asiamoney’s ‘Best Cash Management Bank in Sri Lanka’ award is based on an independent survey whereby corporates are given the opportunity to rate the quality of service provided by their local and multinational relationship banks across 20 core products and services.

HNB is the first local bank to offer a web-based, fully integrated Payments and Cash Management (PCM) platform – HNB Online. The bank leveraging on this state of the art platform along with a dedicated business team that is considered the best in the industry, within a short period of time has been able to make significant strides in securing a leadership position in the cash management, which was previously a captive business of the multinational banks.

Corporates using HNB Online have real time control over their day to day management of collections, payments and liquidity investments whilst enterprise-level clients have the ability to integrate HNB Online directly with their Accounts Payables and Accounts Receivables of their Enterprise Resource Planning (ERP) systems such as SAP and Oracle. HNB’s electronic banking platform not only caters to payments and collection solutions but also offers a comprehensive online trade platform to support international trade finance business.

HNB’s cash management solutions offering covers corporates, ranging from multinationals, large local conglomerates, mid-market enterprises, financial institution groups and non-banking financial institutions.

Corporate Banking DGM Ruwan Manatunga said: “Winning this title within a year from the launch of HNB Online is a proud moment and a testament of the hard work and effort put in by the PCM team not only to develop a platform that is best in the market but also to provide the bank’s corporate customers solutions that create significant value. It is also a testament of the commitment and investments made by HNB to support its corporate customers in the business of payments and cash management. We believe in partnering with our clients to provide well-thought through PCM solutions that covers the full spectrum of cash management, that is, receivable reconciliation, cheque outsourcing , distributor financing, and more. We are proud of our cash management business and teams and will continue to innovate to keep abreast with the ever-changing demands of the local and global financial markets to support our customers in the years ahead.”

Payments and Cash Management Head Dhananjaya Samaraweera articulated that: “HNB’s fully integrated Payments and Cash Management platform was launched just over a year ago and winning this award is a reflection of customer confidence in HNB being able to provide end to end electronic cash management solutions that creates significant efficiency and convenience.”

Reflecting on HNB’s strength and dominant influence in the financial landscape as the preferred corporate banking partner of choice, Dhananjaya concluded by saying that the confidence placed by corporates further encourages and supports HNB to continue to invest in new technologies and teams. He also stressed that the bank will continue to give leadership to the market and in doing so will further roll out world class innovative and customised solutions to their clients.