Downturn leads to gain in demand

       The financial crisis has lifted demand for global payments and cash management services as firms seek to improve efficiency in their payment systems, says Thailand's oldest bank.
       Growth in cash management transactions across the region has risen by 10-20% the past few years, said John Laurens, head of Asia-Pacific global payments and cash management for HSBC.
       "China is a fascinating case. Development there has been very fast, with a jump from cash to electronic payments,skipping right over cheque payments,"he said."India is similar, where epayments are growing very quickly."
       In Thailand, e-payments and cash management transactions have doubled over the past few years, with remittance activities now at all-time highs.
       Mr Laurens said Thailand and other markets in the region were clearly paying greater attention to cash management and treasury services, adding that HSBC was very bullish about growth prospects for the local market.
       HSBC, one of the largest banks in the world and the oldest bank in Thailand,focuses not only on large multinational companies but also mid-sized businesses which conduct overseas transactions.Payment volume through HSBC's Thai branch is equally split between foreign and local clients.
       Mr Laurens said last year's collapse of Lehman Brothers and other financial institutions resulted in companies paying greater attention to counterparty risk.
       HSBC has been a beneficiary of the fallout and turmoil in the financial markets, he said, as customers have flocked to the bank based on its solid capital base and global network.
       "One of our advantages is that the bank has various systems that can match with the different technology platforms of our customers," Mr Laurens said.
       HSBC not only provided cash management and payment services, but assists clients in "re-engineering payment behaviour," he said.
       In the insurance sector, the bank was helping clients change from traditionally receiving premiums in cash to bankbased transactions and e-payments.