Union Bank Best Cash Management Bank in SL | Daily News

Union Bank Best Cash Management Bank in SL

At the Asian Banker Transaction Finance Awards 2020

Union Bank won the prestigious ‘Best Cash Management Bank in Sri Lanka’ title at the Asian Banker Transaction Finance Awards 2020, reaffirming the success of the Bank’s state-of-the-art cash management solution Union Bank Biz Direct.

The Asian Banker Transaction Finance Awards is the most rigorous, prestigious and transparent annual awards programme recognising leadership in cash management, trade finance, supply chain finance and payments amongst domestic and international financial institutions in Asia Pacific, the Middle East and Africa.

Commenting on the award, Director/Chief Executive Officer of Union Bank Indrajit Wickramasinghe said, “This award is a strong re-affirmation of the steady progress made by Union Bank in the payment and cash management landscape of the country.

Union Bank Biz Direct was the first of its type to be launched in Sri Lanka by a local commercial bank back in the year 2016, and has made great strides in being established as an efficient, convenient and effective cash management tool that aids large corporates as well as SME’s to manage their liquidity more prudently.”

Vice President, Transaction Banking and SME at Union Bank, Asanka Ranhotty added, “The Asian Banker Best Cash Management award recognizes the achievements of Union Bank’s BizDirect in terms of market share and revenue as well as product and operational excellence displayed against competitor products in the market. Union Bank’s revolutionary cash management system BizDirect aims to change the heavily cash-dependent transaction management landscape in the country by providing total control of liquidity management to business owners through automations and customisations that help them make timely managements decisions based on their cash flows. BizDirect proved its worth in many ways during the island wide lockdown that prevailed for months, by enabling timely collections and payment solutions through automation and distant cash management capabilities.”