Asia is a key growth area for transaction banking as a result of not only the internal economic development in Asian countries but also the increased international trade between countries and with the West. This drives a need for management services for trade finance, currency and working capital. As these trends continue, and as Asia's economy continues to grow in prominence, global transaction banks cannot afford to be without a presence in the region. The demand for more-sophisticated solutions and platforms in Asia Pacific has skyrocketed. Linda McLaughlin-Moore, Asia Pacific head of treasury services product management & delivery at JP Morgan Treasury Services, says companies are looking to banks to deliver new capabilities that will provide them with innovations to enhance their control over the corporate cash conversion cycle at a lower cost. The corporate treasurer is going to drive banks to deliver more for less.
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