Star New Zealand T20 batsman Martin Guptill in action. Photo Reuters
New Zealand are the top-ranked T20 side while recent World Cup winners West Indies have slipped to third.
NZ were beaten in their World Cup semifinal but accrued 12 ratings points, which meant they tied with India at the top of the table and eased past them after decimal points calculations.
Their winning margin was 0.21 of a point, while the West Indies are third, South Africa fourth and England fifth.
The ranking system uses results from the last three years with a 50 per cent weighting for the 2013-14 and 2014-15 seasons and a full premium on the 2015-16 season.
In one-day internationals NZ is ranked second behind Australia and ahead of South Africa, India, Sri Lanka and England.
