RBS 2010 Annual Report Download - page 31

29RBS Group 2010
Divisional review
Global Transaction Services
Innovating to enhance customer service
In 2010, we embarked on a significant investment programme, designed
to drive innovation and deliver new technologies to our customers. Our
new products and services provide customers with greater flexibility and
transparency, and in many cases help to improve risk management and
lower costs.
We were one of the first global banks to facilitate cross-border trade
settlement in Chinese Renminbi (RMB) and to offer RMB accounts,
currency exchange and trade finance services. For financial institutions,
we unveiled the new Euro Trade Deduct product that maximises the
benefits available from our cash and trade services.
The launch of the RBS SWIFT Service Bureau throughout our Global
Payments network enables us to offer comprehensive, global solutions to
large corporate customers. Users can become quickly established on the
universal banking platform and with less capital investment than before.
Other innovations included:
•PayAway-IP Direct, a remote access web-based payment service for
RBS and NatWest customers.
•GTS Salesline, which since its launch in May 2010 has helped more
than 1,000 customers to arrange and complete transactions.
•accessMOBILE, introduced by Citizens as an easy-to-use smartphone
application enabling clients to manage commercial banking
transactions on a convenient and portable basis.
•Our Netherlands investment product, the Yield Call Demand Account,
rewards longer-term deposits while also ensuring funds are accessible
if needed. It has also been successfully rolled out in Singapore.
•MaxTrad Digisuite provides a secure online service for firms with
global supply chains and reduces the need for expensive
documentation and courier services.
Being recognised for the quality of our service
Our awards in 2010 reflect the quality and international coverage of our
businesses. Global Finance magazine awarded us:
•Best Bank for Liquidity Management (Western Europe)
•Best Continuous Linked Settlement Bank (Western Europe and
North America)
•Best Trade Finance Bank (Netherlands)
•Best Supply Chain Finance Provider
Positioning for the future
We continued to build upon the foundation of the Group’s 2009 Strategic
Plan. Our risk management programmes have been enhanced, with the
first phase of a new model for credit risk and portfolio management. This
provides a more streamlined credit approval process for customers and
strengthens accountability across business divisions.
Our people agenda seeks to align employees with customer needs and
our business strategy. In 2010, we identified a set of values for GTS based
upon empowered leaders, customer focus, the drive to succeed,
connectivity, and risk awareness. Our employees are encouraged to
engage fully through discussion forums, focus groups and roadshows.
Fostering teamwork throughout our business creates an inclusive workplace
and we are active in creating a trusted adviser role with our clients.
In April, we completed the legal separation and integration of the former
ABN AMRO NV businesses. The parts acquired by RBS now operate
under a unified brand which gives us greater opportunities for our
business and our clients. Our new banking platform in the Netherlands
successfully migrated more than 40,000 corporate accounts to RBS.
In line with the settlement agreed with the EC in 2009, we announced and
completed the divestment of our Global Merchant Services (‘WorldPay’)
business to Advent International and Bain Capital. Under the terms of
the sale, RBS will retain a 19.99% stake in the business, and will refer our
customers to WorldPay for merchant acquiring products and services.
Going onto the front foot
The launch of our new customer proposition highlights the strengths of
our business, enhances our market profile and helps to differentiate us
from the competition. The combined strengths of our business include
our global reach, product expertise, customer service, technology
platforms and most importantly our people. These are underpinned by
our continuing commitment to customers and our ability to generate new
ideas and products.
In 2011, we will continue to build on the momentum of 2010 and to
position GTS as a stable and powerful transaction bank for our customers
and our shareholders. GTS will move forward under new leadership, with
Scott Barton taking over as CEO in January 2011. Brian Stevenson will
work with Scott in his new capacity as Chairman, GTS.
We partnered with the Government’s UK
Trade & Investment initiative, through their
Asia Task Force, to present a series of
events entitled Doing Business in Asia:
Meet the Experts.
We administer 4,600 global trade
transactions each day.