[ D O M E S T I C
S U R V E Y
|
I N D I A ]
Standard Chartered StockHolding
Bank
With the exception of Technology, which is bubbling under,
all service category scores for Standard Chartered remain above
6.00. The fact that the bank has recorded minor falls in the face
of a more significant drop for the market as a whole, means that,
this year, Standard Chartered outperforms in eight out of 10
categories, the exceptions being Technology and Reputation and
Asset Servicing.
Several individual question scores are among the highest in
the survey overall. These include 6.63 for quality of shareholder
recordkeeping services and 6.56 for knowledge and responsive-
ness of personnel.
“Excellent relationship management and prompt action in all
the requirements” are cited by one client as particular strengths
of Standard Chartered, while another points to “good quality
people, good technology and good understanding of business” as
notable positives. On the negative side, one respondent suggests
that, “Over-reliance on technology sometimes leads to simple
issues snowballing into major hindrances.”
Interestingly, the bank’s responder base is almost entirely
different from 2017.
Despite small falls in category scores across the board, Stock-
Holding has outperformed the market in all service areas and
records a set of results towards the top end of the survey, as a
whole. It surpasses the market average most notably in the areas
of Trustee and Administration Services (+0.63) and Settlement
and Cash Management (+0.52). All of Stockholding’s category
scores are comfortably in Very Good range.
Client comments are overwhelmingly positive. “Stockholding
provides the best combination of brand, asset safety, cost, report-
ing and customer orientation,” says one client. Another points to
“an excellent technological base and quick & timely responses,
addressing and resolving issues speedily; overall, a very well
maintained client relationship.”
A number of categories are rated Excellent (7.0) by a majority
of clients. These include Reputation and Asset Safety (82%),
Relationship Management and Client Service (75%) and Asset
Servicing (74%).
At an individual question level, StockHolding is rated particu-
larly highly for the quality of its shareholder recordkeeping ser-
vices (6.83) and for its commitment to the custody and securities
servicing business (6.76). Even its lowest scoring question, for
competitiveness of fees charged, is an impressive 6.18.
Category Standard
Chartered India
average Difference Category StockHolding India
average Difference
Relationship management and client service 6.21 6.19 0.02 Relationship management and client service 6.66 6.19 0.47
Cost and value delivered 6.04 6.00 0.04 Cost and value delivered 6.28 6.00 0.28
Settlement and cash management 6.17 6.13 0.04 Settlement and cash management 6.65 6.13 0.52
Asset servicing 6.29 6.16 0.13 Asset servicing 6.56 6.16 0.40
Special operational requirements 6.55 6.14 0.41 Special operational requirements 6.48 6.14 0.34
Operational reporting 6.20 6.02 0.18 Operational reporting 6.53 6.02 0.51
Technology 5.94 5.96 -0.02 Technology 6.35 5.96 0.39
Fund and unit accounting and valuation (if used) 6.27 6.07 0.20 Fund and unit accounting and valuation (if used) 6.54 6.07 0.47
Trustee and administration services (if used) 6.52 6.01 0.51 Trustee and administration services (if used) 6.64 6.01 0.63
Reputation and asset safety 6.19 6.33 -0.14 Reputation and asset safety 6.75 6.33 0.42
Overall weighted averages 6.20 6.12 0.08 Overall weighted averages 6.56 6.12 0.44
Top 5 question scores Score Top 5 question scores Score
Quality of shareholder recordkeeping services 6.63 Quality of shareholder recordkeeping services 6.83
Knowledge and responsiveness of personnel 6.56 Commitment to the custody and securities servicing business 6.76
6.55 Effectiveness in matching and settlement rates 6.74
6.50 Creditworthiness of institution 6.73
6.47 Quality of personnel 6.68
Effectiveness of handling settlement custody and asset servicing for non-domestic securities
Accuracy of valuations and accounting for non-domestic securities
Accuracy and timeliness of dividend notification and crediting
Bottom 5 question scores
Bottom 5 question scores
Competitiveness of fees charged 6.06 Accuracy of valuations and accounting for non-domestic securities 6.47
Value received relative to fees paid 6.00 Value received relative to fees paid 6.44
Willingness and ability to customise reporting 5.94 Ease of use and comprehensiveness of client facing technology 6.35
Ease of use and comprehensiveness of client facing technology 5.94 Sophistication and robustness of core systems 6.35
Sophistication and robustness of core systems 5.93 Competitiveness of fees charged 6.18
64
Global Custodian
Summer 2018