Best transaction bank for payment services 2018
Asiamoney is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2023
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
AwardsBest Transaction Banks in China

Best transaction bank for payment services 2018

China Guangfa Bank

Chen Xingfei, CGB.jpg
Xingfei Chen, China Guangfa Bank

Executives at Guangzhou-based China Guangfa Bank know full well that those banks that offer the best product suites and customer services are the only ones that can compete effectively in the 21st century.

Guangfa, which caters primarily to private enterprises across a range of industries – including manufacturers in home appliances, the food and automobile industries – also knows that its clients are a demanding lot and that it must offer them the most effective payment services to keep them long term.

It’s vice-general manager is Xingfei Chen. Guangdong province was a pioneer in private enterprise development, and its economy is primarily driven by private enterprises. To compete effectively, those firms are often highly price conscious, including when it comes to vendor payments.

The bank has developed a cost-effective and efficient online payment service for its clients in the last five years. The bank calls it a one-stop shop payment service that includes a full range of e-payment and order management services, from treasury and savings to credit lines and invoicing that help customers establish tightly knit relationships with every supplier, vendor and subcontractor in its supply chain.

The bank also applies artificial intelligence on its e-payment platform, which automates a self-learning mechanism that over time provides a custom-made experience for every client.

Moreover, the bank offers its enterprise clients a risk-management system that is based on credit analysis of trading partners. The system, developed in-house, is especially useful to the bank’s small and medium-sized enterprise clients that may lack their own risk management systems.

The system is designed to be easy to use, allowing clients’ finance teams to simplify all payment processes without having to develop their own systems. It also gives every client instant access to a range of information that helps them in their payment management system.

All together, these help the bank to maintain a high customer retention rate.

There is no question the bank’s highly effective e-payment services deserve recognition.