On the 20th of October 2022, twimbit in partnership with F5 and Kyndryl organized the inaugural “Bank of Tomorrow Asia Pacific Summit”. We were thrilled to have Manoj discuss the twimbit Purpose Index.

The twimbit Purpose Index is about helping Asia’s leading banking and financial institutions migrate to the future desire state of being purpose driven organisations. The index benchmarks the top 40 banks across Asia Pacific on four key factors of growth. This presentation will unravel Asia Pacific’s leading purpose driven banks and what we can learn from them.

Session Title: twimbit Purpose Index

Speaker:

• Manoj Menon, Managing Director & Co-Founder, twimbit

The twimbit Purpose Index

The climate today demands that businesses revert to their original purpose – serving society in the fullest measure. This means that each stakeholder is treated equally across these five parameters. These are the following:

• Shareholders
• Employees
• Partners and suppliers
• ESG
• Customer.

With this ideology in mind, we created the twimbit Purpose Index to benchmark the top 40 banks across the Asia Pacific. How did we achieve this?

1. We picked up 42 of Asia’s leading banks and benchmarked them across the five parameters mentioned above.
2. We observed several distinct parameters and carefully dissected the information into one chart, leading to the twimbit Purpose Index.

Twimbit Purpose Index

A breakdown of the chart: X-Axis: Aggregate score across the 4 purpose pillars, that is, Customer Experience (CX), Employee Experience (EX), Supplier Satisfaction and ESG impact Y-Axis: Normalised scale of the revenue growth to understand the banks’ revenue score or growth score Bubble: The size reflects the overall revenue size of a particular bank and its impact on the total banking ecosystem Colour gradient: The colour gradient in each of the circles represents the bank’s EBITDA margin and operational efficiency *Japan is excluded from the benchmark

Results from the twimbit Purpose Index

Highest revenue YoY (Year on Year) growth (in the last financial year)

1. Canada Bank from India and Bank of Queensland
2. ANZ (Australia New Zealand) Bank

Highest purpose score (in the last financial year)

1. DBS – The Development Bank of Singapore (DBS) leads the purpose score, integrating the best EX, CX, Supplier Satisfaction and ESG impact with the best propositions and strategy.

Biggest banks in APAC

1. ICBC (Industrial and Commercial Bank of China)
2. CCB (China Construction Bank)

Best profitability score in terms of EBITDA

1. ICBC (Industrial and Commercial Bank of China)
2. CCB (China Construction Bank)
3. HDFC (Housing Development Finance Corporation Limited from India)
4. Public Bank (Malaysia)
5. HLB (Hong Leong Bank from Malaysia)

Overall, ANZ Bank is at the top, with superior leadership that balances purpose and revenue score regarding growth and profitability. However, Australian, New Zealand and Singapore banks are prominent in the cluster, balancing well between revenue and purpose scores. Also, a notable entry is SCB (Siam Commercial Bank), which has also performed well in purpose score, even though it is one of the loan banks from Thailand. Lastly, HLB and Public Bank’s good performance on the purpose score cannot be understated.