Interest rate cuts and deterioration in global economic activity accelerated revenue slump at top global transaction banks in 2020. Heightened business uncertainties, volatile demand for liquidity and the need to switch business-as-usual to virtual channels created one of the most trying operational environments for financial institutions (FIs) in 2020. With low interest rates unlikely to change substantially anytime soon, constrained revenues have driven the industry to prioritise cost rationalisation. The silver lining amid the crisis is the acceleration among corporates to go digital and use online tools, helping FIs to increase efficiency and lower cost-to-serve. The pandemic has also exposed the fragility of far-flung supply chains and expedited reshoring and relocation to be closer to the centres of consumption or new markets. This, coupled with scarce liquidity at the end of the value chain, shifted focus to conserving cash and accessing credit and financing through supply chain finance (SCF) programmes. New opportunities for customer wallet retention and expansion, as well as preservation of business franchise are now predicated on the ability to support end-to-end digital journeys on integrated platforms. Open collaboration and the seamless integration of APIs into corporate treasuries have gained traction as processes and transactions become increasingly automated and digitalised. The Asian Banker Transaction Finance and Risk Awards programmes for 2021 havedocumented some of the best practices demonstrated by various financial institutions and their preparedness to compete and win in the post COVID-19 digital world. To celebrate the achievements of these top performing institutions, the awards ceremony will be held virtually on Thursday, 11 November 2021. The ceremony will also include the Dialogue with Heads of Transaction Finance and Risk. We will hear about challenges, insights and lessons from each player in meeting the financial and non-financial needs of corporate and FI customers during the pandemic.