Global Custodian Summer 2018 | Page 65

[ D O M E S T I C S U R V E Y | I N D I A ]

Standard Chartered 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 responsiveness 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 .

StockHolding

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 , reporting 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 particularly highly for the quality of its shareholder recordkeeping services ( 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
Cost and value delivered
6.04
6.00
0.04
Settlement and cash management
6.17
6.13
0.04
Asset servicing
6.29
6.16
0.13
Special operational requirements
6.55
6.14
0.41
Operational reporting
6.20
6.02
0.18
Technology
5.94
5.96
-0.02
Fund and unit accounting and valuation ( if used )
6.27
6.07
0.20
Trustee and administration services ( if used )
6.52
6.01
0.51
Reputation and asset safety
6.19
6.33
-0.14
Overall weighted averages
6.20
6.12
0.08
Relationship management and client service
6.66
6.19
0.47
Cost and value delivered
6.28
6.00
0.28
Settlement and cash management
6.65
6.13
0.52
Asset servicing
6.56
6.16
0.40
Special operational requirements
6.48
6.14
0.34
Operational reporting
6.53
6.02
0.51
Technology
6.35
5.96
0.39
Fund and unit accounting and valuation ( if used )
6.54
6.07
0.47
Trustee and administration services ( if used )
6.64
6.01
0.63
Reputation and asset safety
6.75
6.33
0.42
Overall weighted averages
6.56
6.12
0.44
Top 5 question scores
Score
Quality of shareholder recordkeeping services
6.63
Knowledge and responsiveness of personnel
6.56
Effectiveness of handling settlement custody and asset servicing for non-domestic securities
6.55
Accuracy of valuations and accounting for non-domestic securities
6.50
Accuracy and timeliness of dividend notification and crediting
6.47
Bottom 5 question scores
Competitiveness of fees charged
6.06
Value received relative to fees paid
6.00
Willingness and ability to customise reporting
5.94
Ease of use and comprehensiveness of client facing technology
5.94
Sophistication and robustness of core systems
5.93
Top 5 question scores
Score
Quality of shareholder recordkeeping services
6.83
Commitment to the custody and securities servicing business
6.76
Effectiveness in matching and settlement rates
6.74
Creditworthiness of institution
6.73
Quality of personnel
6.68
Bottom 5 question scores
Accuracy of valuations and accounting for non-domestic securities
6.47
Value received relative to fees paid
6.44
Ease of use and comprehensiveness of client facing technology
6.35
Sophistication and robustness of core systems
6.35
Competitiveness of fees charged
6.18
64 Global Custodian Summer 2018