RBS GTR Leader in Best Bank for Documentary Services 2010-2012
December 2012

Best bank for documentary processing: RBS

RBS’s strong focus on documentary processing saw it voted best bank again in this category for 2012 – making it the third time the bank has proved itself a leader in documentary processing with GTR readers.

“We are extremely focused in the delivery of international solutions linking risk management services to appropriate trade and supply chain financing. Furthermore, documentary processing of letters of credit – on both the import and export side – is a core business for us,” says Manoj Menon, global head of trade service, innovation and customer proposition at RBS. “These services are available to our client franchise – both corporates and financial institutions – and supported by on-the-ground service through our broad geographical network.”

He adds: “As a bank, we have vast experience in handling documentary credits. We have a unique value proposition for handling import and export letters of credit and are continuously introducing new value-added services so as to be proactive in this marketplace.”

It now plans to expand its activities in the area of ePresentation. “We were involved in the first ever electronic transmission of the documents required for a documentary credit, using eUCP, with Bolero and now plan to extend this offering to other clients too,” says Menon. “RBS recognises this as a step towards broadening the use of technology in cross-border electronic commerce for our clients and in the industry.”

Moving forward, Menon believes that regulatory changes represent the most prominent challenge for trade banks.

“Basel III will affect trade finance, and we need to examine three separate measures: the introduction of the asset value correlation (AVC) multiplier for large financial institutions, and the new liquidity and leverage ratios,” he says. “The FI AVC is one of the Basel III measures intended to address the risks stemming from the interconnectedness of the global financial system. It affects the pricing of our exposure to the world’s largest regulated banks (with over €70bn of assets), as well as all unregulated banks.”
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