Awards: Best Internet Banks—Round 1

ANNUAL SURVEY  THE PIONEERS

 

By Adam Rombel

 

In the first of a two-part series, Global Finance identifies the top online corporate and consumer banks by country and regionally by product or service category.

 

World's Best Internet Banks 2013Global Finance is for the 14th year spotlighting those banks around the world that are leading the way and prospering with their online-banking products and services.

 

Round one of the World’s Best Internet Banks Awards features the best online corporate and consumer banks by country and regionally by product or service category.

 

Winners were selected among entries evaluated by a world-class panel of judges at consultancy Infosys that was led by Shashidhar Ramakrishnaiah, head of its consumer and commercial banking practice. Global Finance editors were responsible for the final selection of first-round winners.

 

The Internet-banking stalwarts (in alphabetical order) include, Citi, HSBC, ICBC, Piraeus Bank (winbank), Samba, Scotiabank, Standard Chartered and Wells Fargo.

 

These banks and other winners are offering digital technologies to allow customers to access their money and complete banking transactions safely from anywhere and at any time. The top Internet banks in the world are leading the way in electronic payments, mobile banking, social media, website design, information security initiatives, cash-management services and investment products and services.

 

As a result, they also blaze the trail in signing up new digital customers in growing markets, strengthening existing customer relationships, cross-selling products and services, producing cost efficiencies and gaining a competitive edge overall.

 

It isn’t easy for banks to produce these business results in the face of regulatory scrutiny, information-security challenges, strong competitive pressures from other banks and nonbanks and the unending changes in technology and customer demands.

 

That sort of success requires continuous investment, improvement and change.

 

Key ways banks are differentiating themselves from competitors include the client-centric design of Web-banking services, multichannel offerings and highly personalized portals that try to meet all the needs of the customers, according to Ramakrishnaiah.

 

World's Best Internet Banks

 

On the consumer side, bill pay, online account opening based on product composition, online origination for mortgage and other lending products, video-based training pro­grams, self-service applications, digital signatures, electronic documentation and personal financial management (PFM) are among key product offerings. PFM in particular has become important, as digital consumers seek financial planning, spending management and budgeting help. “Banks are giving them a tool to manage their finances on an ongoing basis,” Ramakrishnaiah says.

 

Banks are using digital channels for “Client 360,” which leverages powerful analytics to give the bank a complete, holistic view of the client and allow the banks to know what products/services the customer wants and needs and offer them at the appropriate time, as well as use data to detect identity thieves and protect customer accounts, according to Infosys. This allows banks to better cross-sell/up-sell, stop customer attrition, improve customer service, direct clients to the right channel and reduce servicing costs, according to Ramakrishnaiah. “All offerings are built around customer needs,” he says.

 

On the corporate side, banks are evolving their treasury portals to keep pace “with the evolving role of trea­sury as a strategic function to ensure optimal working capital management,” Ramakrishnaiah says. “Leading treasury portals are integrating cash, trade and liquidity functions, offering eBAM (electronic bank account management) and providing powerful tools for cash flow forecasting. Financial supply chain integration enabled by advanced SWIFT integration is generating significant revenue opportunities for the banks” On the corporate as on the consumer side, multichannel and social-media integra­tion are important.

 

In fact, incorporating social media into online banking is the top trend among leading Internet banks in 2013. Social media “is being used for customer engagement, customer service, marketing, employee engagement and recruitment,” Ramakrishnaiah says.

 

For more about the globe’s leading online banks, check out the second round of the World’s Best Internet Banks Awards in December, when we unveil the global winners, by product or service category, as well as overall winners.

 

COUNTRY WINNERS: Best Corporate/Institutional Internet Banks
NORTH AMERICA
Canada Citi
United States Citi
WESTERN EUROPE
Austria Citi
Belgium Citi
Finland Citi
France Citi
Germany Citi
Greece Eurobank
Ireland Citi
Italy Citi
Luxembourg Citi
Malta Bank of Valletta
Netherlands Citi
Norway Citi
Portugal Banco Espirito Santo (BES)
Spain Citi
Sweden Citi
Switzerland Citi
Turkey HSBC
United Kingdom Citi
CENTRAL & EASTERN EUROPE
Bulgaria Citi
Croatia Privredna Banka Zagreb
Czech Republic Citi
Georgia TBC Bank
Hungary Citi
Latvia SEB Banka
Poland Citi
Romania Citi
Russia Citi
Slovakia Citi
Ukraine Citi
LATIN AMERICA
Anguilla Scotiabank
Antigua & Barbuda Scotiabank
Argentina Citi
Bahamas Citi
Barbados Scotiabank
Belize Scotiabank
Bolivia Banco de Credito BCP
Brazil Citi
British Virgin Islands Scotiabank
Cayman Islands Scotiabank
Chile Corpbanca Chile
Colombia Citi
Costa Rica Citi
Dominica Scotiabank
Dominican Republic Citi
Ecuador Citi
Grenada Scotiabank
Guatemala Citi
Guyana Scotiabank
Haiti Scotiabank
Honduras Citi
Jamaica Citi
Mexico Banamex
Panama Citi
Paraguay Citi
Peru Citi
Puerto Rico Scotiabank
St. Kitts & Nevis Scotiabank
St. Lucia Scotiabank
St. Maarten Scotiabank
St. Vincent & the Grenadines Scotiabank
Trindidad & Tobago Citi
Turks & Caicos Scotiabank
Uruguay Citi
US Virgin Islands Scotiabank
Venezuela Citi
ASIA-PACIFIC
Australia Citi
Bangladesh Citi
China ICBC
Hong Kong Citi
India Citi
Indonesia Citi
Kazakhstan Citi
Malaysia Maybank
New Zeland Citi
Pakistan Citi
Philippines Citi
Singapore DBS
South Korea Citi
Sri Lanka Citi
Taiwan Citi
Thailand Citi
Vietnam Citi
MIDDLE EAST/AFRICA
Algeria Citi
Bahrain Citi
Cameroon Citi
Cote D’Ivoire Citi
Democratic Republic of Congo Citi
Egypt Citi
Gabon Citi
Jordan Citi
Kenya Citi
Kuwait Citi
Lebanon Citi
Morocco Citi
Mozambique Bank Unico
Nigeria Citi
Oman Bank Muscat
Qatar Arab Bank
Saudi Arabia Samba
Senegal Citi
South Africa Citi
Tanzania Citi
Tunisia Citi
United Arab Emirates Citi
Uganda Citi
Zambia Citi
COUNTRY WINNERS: Best Consumer Internet Banks
NORTH AMERICA
Bermuda HSBC
Canada Scotiabank
United States Wells Fargo
WESTERN EUROPE
Cyprus Piraeus Bank
Greece Piraeus Bank (Winbank)
Italy FinecoBank
Jersey Standard Chartered
Malta Bank of Valletta
Portugal Millennium BCP
Spain CaixaBank
Turkey Garanti Bank
CENTRAL & EASTERN EUROPE
Bulgaria DSK Bank
Croatia Privredna Banka Zagreb
Czech Republic Citi
Georgia TBC Bank
Hungary Citi
Latvia SEB Banka
Poland Bank Millennium
Romania Garanti Bank
Russia OJSC - Promsvyazbank
Slovakia Tatra Bank
LATIN AMERICA
Anguilla Scotiabank
Antigua & Barbuda Scotiabank
Argentina Santander Rio
Bahamas Scotiabank
Barbados Scotiabank
Belize Scotiabank
Bolivia Banco de Credito BCP
Brazil HSBC
British Virgin Islands Scotiabank
Cayman Islands Scotiabank
Chile Banco Santander
Colombia Citi
Costa Rica Scotiabank
Dominica Scotiabank
Dominican Republic Scotiabank
Grenada Scotiabank
Guyana Scotiabank
Jamaica Scotiabank
Mexico Banamex
Panama Scotiabank
Paraguay Itau Unibanco
Puerto Rico Banco Popular Puerto Rico
St. Kitts & Nevis Scotiabank
St. Lucia Scotiabank
St. Maarten Scotiabank
St. Vincent & the Grenadines Scotiabank
Trindidad & Tobago Scotiabank
Turks and Caicos Scotiabank
US Virgin Islands Scotiabank
Venezuela BBVA Banco Provincial
ASIA-PACIFIC
Australia Citi
Bangladesh Standard Chartered
Brunei Standard Chartered
China Citi
Guam Citi
Hong Kong HSBC
India Citi
Indonesia Citi
Japan Rakuten Bank
Malaysia CIMB Group
Mongolia Golomt Bank
Pakistan Standard Chartered
Philippines Citi
Singapore Standard Chartered
South Korea Standard Chartered
Sri Lanka HSBC
Taiwan ANZ Banking Group
Thailand Citi
Vietnam Standard Chartered
MIDDLE EAST/AFRICA
Bahrain Citi
Egypt Citi
Ghana Standard Chartered
Israel Bank Leumi
Jordan Arab Bank
Kenya Standard Chartered
Lebanon Blom Bank
Mozambique Banco Unico
Qatar Mashreq Bank
Saudi Arabia Samba Financial Group
United Arab Emirates Standard Chartered
Zambia Standard Chartered
REGIONAL SUBCATEGORY WINNERS: Best Corporate/Institutional Internet Banks
NORTH AMERICA
Best Investment Management Services Wells Fargo
Best Online Cash Management Citi
Best Trade Finance Services Wells Fargo
Best Web Site Design Citi
Best Integrated Corporate Bank Site Wells Fargo
Best Information Security Initiatives Citi
Best in Mobile Banking Wells Fargo
Best in Social Media Citi
Best Online Treasury Services Wells Fargo
WESTERN EUROPE
Best Investment Management Services Citi
Best Online Cash Management Citi
Best Trade Finance Services Yapi Kredi Bank
Best Web Site Design Citi
Best Integrated Corporate Bank Site Citi
Best Information Security Initiatives Citi
Best in Mobile Banking Banco Espirito Santo
Best in Social Media Turkish Economy Bank (TEB)
Best Online Treasury Services Garanti Bank
CENTRAL & EASTERN EUROPE
Best Investment Management Services Citi
Best Online Cash Management Citi
Best Trade Finance Services Citi
Best Web Site Design Citi
Best Integrated Corporate Bank Site TBC Bank
Best Information Security Initiatives Citi
Best in Mobile Banking Bank Millennium
Best in Social Media Citi
Best Online Treasury Services BRE Bank
LATIN AMERICA
Best Investment Management Services Citi
Best Online Cash Management Scotiabank
Best Trade Finance Services Citi
Best Web Site Design Citi
Best Integrated Corporate Bank Site Bancolombia
Best Information Security Initiatives Citi
Best in Mobile Banking Citi
Best in Social Media Citi
Best Online Treasury Services Banamex
ASIA-PACIFIC
Best Investment Management Services Citi
Best Online Cash Management DBS
Best Trade Finance Services DBS
Best Web Site Design Citi
Best Integrated Corporate Bank Site ICBC
Best Information Security Initiatives ICBC
Best in Mobile Banking Citi
Best in Social Media ICBC
Best Online Treasury Services ICBC
MIDDLE EAST/AFRICA
Best Investment Management Services Citi
Best Online Cash Management Citi
Best Trade Finance Services Samba
Best Web Site Design Citi
Best Integrated Corporate Bank Site Samba
Best Information Security Initiatives Samba
Best in Mobile Banking Citi
Best in Social Media Citi
REGIONAL SUBCATEGORY WINNERS: Best Consumer Internet Banks
NORTH AMERICA
Best Online Deposit, Credit and Investment Product Offerings Scotiabank
Best Bill Payment & Presentment CIBC
Best Web Site Design Scotiabank
Best Integrated Consumer Bank Site Scotiabank
Best Information Security Initiatives CIBC
Best in Mobile Banking Scotiabank
Best in Social Media Wells Fargo
WESTERN EUROPE
Best Online Deposit, Credit and Investment Product Offerings FinecoBank
Best Bill Payment & Presentment Garanti Bank
Best Web Site Design Piraeus Bank (Winbank)
Best Integrated Consumer Bank Site Piraeus Bank
Best Information Security Initiatives Standard Chartered
Best in Mobile Banking Piraeus Bank (Winbank)
Best in Social Media Garanti Bank
CENTRAL & EASTERN EUROPE
Best Online Deposit, Credit and Investment Product Offerings Citi
Best Bill Payment & Presentment TBC Bank
Best Web Site Design Tatra Bank
Best Integrated Consumer Bank Site TBC Bank
Best Information Security Initiatives Citi
Best in Mobile Banking Tatra Bank
Best in Social Media Garanti Bank
LATIN AMERICA
Best Online Deposit, Credit and Investment Product Offerings HSBC
Best Bill Payment & Presentment Banco Popular Puerto Rico
Best Web Site Design HSBC
Best Integrated Consumer Bank Site HSBC
Best Information Security Initiatives Banco Santander
Best in Mobile Banking Santander Rio
Best in Social Media Bancolombia
ASIA-PACIFIC
Best Online Deposit, Credit and Investment Product Offerings HSBC
Best Bill Payment & Presentment Standard Chartered
Best Web Site Design HSBC
Best Integrated Consumer Bank Site Citi
Best Information Security Initiatives Standard Chartered
Best in Mobile Banking Taishin Bank
Best in Social Media CIMB Bank
MIDDLE EAST/AFRICA
Best Online Deposit, Credit and Investment Product Offerings Standard Chartered
Best Bill Payment & Presentment Abu Dhabi Commercial Bank
Best Web Site Design Standard Chartered
Best Integrated Consumer Bank Site Samba Financial Group
Best Information Security Initiatives Standard Chartered
Best in Mobile Banking Samba Financial Group
Best in Social Media Standard Chartered
 

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