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Corporate Banking Research Outlook 2021

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Playing the Long Game: 2021 Research Themes

In 2020, for the corporate banking segment, the COVID-19 pandemic heightened the importance of enhancing client engagement and customer experience, with banks in the vanguard increasing technology budgets and accelerating projects. These banks continue to play the long-game, with multi-year, well-defined strategies for 2021 and beyond.

Going into 2021, we highlighted four themes dominating our 2021 Corporate Banking research, with analysts focusing on enabling treasury digital transformation, disrupting technologies, growing the banking ecosystem, and preparing for the new normal in payments, and these remain in focus. In March, we published the case studies from our flagship Model Bank Awards, which cover topics across all five themes.

Clients tell us that they always look forward to our reports on top technology trends. This year, we are launching a new series of “previsory” reports, the aim of which is to preview technology trends and advise financial institutions on what they need to be thinking about and addressing in the coming year. We are also accelerating the process and plan to publish the Corporate Banking Technology Trends Previsory in late October to support our clients’ year-end planning activities.

As always, we strive to be nimble and respond to fast-moving developments. If you have a hot topic in mind, where our research could add value to your organization, please let us know, and we’ll endeavor to incorporate it into our research agenda for early 2022.

Enabling Digital Transformation in Treasury

The pandemic is driving corporate treasuries to accelerate digitalization, and banks are in a race to keep their solutions relevant alongside nimble fintechs. Banks’ ability to aggregate, analyze, and exchange data with corporate clients is fundamental for achieving visibility, managing liquidity, and optimizing cash.

In Q3, we published a detailed comparison of corporate client needs against bank initiatives, with recommended strategies to make smart investment decisions. In Q4, look for a Celent Pacesetter report on solution providers in the critical cash flow forecasting segment.

Disrupting Technologies on the Innovation Horizon

As the technology arms race continues between the largest global banks, competitors can leverage emerging technologies (e.g. artificial intelligence/machine learning, blockchain, and Internet of Things) and fintech partners to stay in the innovation battle. Long a laggard in the legacy transformation race, banks are turning to progressive renovation, leveraging microservices architecture, public cloud, and low-code/no-code approaches.

In Q3 we published two reports on crypto trends, one covering transaction banking and payments, and the other, cryptocurrencies, stablecoins and CBDC, and Leading Cryptonauts. In Q4, look for Celent’s new 2022 Technology Trends Previsory for Corporate Banking.

Growing the Corporate Banking Ecosystem

Taking an ecosystem approach, combining bank products, vendor solutions, and client co-creation will shape the future of corporate banking technology. With growing client engagement top of mind, corporate banks that successfully grow their third-party ecosystem to offer bold new products while reshaping their cost structure will excel.

In Q3, we published two flagship Celent ABC vendor reports on Corporate Digital Banking Platforms in North America as well as EMEA, APAC, and LATAM. In Q4 we will publish reports centered around API connectivity and open banking, as well as a key report on how banks can recapture transaction banking revenue.

Preparing for the New Normal in Payments

Banks and providers face the impending migration to ISO 20022, increasing payments fraud, managing new real-time payment schemes, and accelerating payments digitization. The rapidly changing payments ecosystem demands banks have a robust payments strategy and technology road map to keep up while payment volumes continue to grow.

Innovation continues apace across the payments ecosystem. In Q3 we published a survey-based report on the state of payments modernization along with reports on data monetization opportunities around the globe. In Q4, we’re planning reports on ISO 20022 adoption in Europe and use cases for adoption of real-time payments in the United States.

Model Bank Awards and Case Studies

Celent Model Bank awards programme celebrates its 15th anniversary in 2022. At the time of writing, we are still accepting nominations https://www.celent.com/awards/model-bank, but the submissions window for our 2022 program closes on October 15th 2021. We can’t wait to start reviewing all the nominations and selecting the winners for 2022 – always a difficult but rewarding task!

Of course, the case studies detailing the initiatives of 2021 Model Bank winners are available to download for Celent Retail or Corporate Banking research clients, depending on the project’s focus. We chose to recognize 21 initiatives from almost 170 nominations of exceptionally high quality and announced 2021 winners on March 10th, as part of our annual Innovation and Insight event.

About Celent

Celent is committed to helping our clients assess the technology implications of external factors across the financial system, from changes in customer behavior to new strategies and technologies required to respond to an uncertain economic future. We’re in touch with financial institutions and their technology partners around the world and are developing a host of new perspectives, updated regularly, to help you make the right strategic technology choices in the medium- and longer term. Our clients have access to our insights through traditional ways – reports, blogs, analyst access – and new media, like interactive virtual roundtables and snap polls.

Because Celent is part of a larger organization, Oliver Wyman and Marsh McClennan (MMC), you have access to our collective thought leadership in areas ranging from epidemiology (Oliver Wyman), to economic modelling (Oliver Wyman), to risk/ crisis management (Marsh), and human resource implications (Mercer). For further information, please see:

Celent https://go.celent.com/coronavirus/overview?token=0a4ebe9774
Marsh https://www.marsh.com/us/insights/research/pandemic-risk-hub.html
Mercer https://www.mercer.com/our-thinking/managing-novel-coronavirus.html
Oliver Wyman https://www.oliverwyman.com/our-expertise/hubs/coronavirus.html
MMC https://www.mmc.com/pages/coronavirus.html

One thing is certain: none of us can go it alone. As you face strategic decisions in the areas of technology and partnerships, Celent is here to support you. We can help you vet partners and technologies as you look at shifting priorities, competitive threats, and growing cost pressures.

TYPES OF INSIGHTS

We show a high level view of 2021’s outlook categorized by type of deliverable. We will continue to deliver different types of insights, from analysis of technology trends shaping the banking industry to vendor analysis. Note that we’ll be publishing Solution Briefs throughout the year, but there’s no way to predict what those topics will be.

INDUSTRY TRENDS AND CASE STUDIES

  • Model Bank case studies from around the world
  • IT spending
  • Corporate digital banking trends
  • Blockchain/digital assets in action
  • Payment trends and technology
  • Open Banking and APIs
  • Various Solution Briefs

POLLS, PANELS, AND PRIMERS

  • IT spending priorities
  • AI use cases (including RPA)
  • Liquidity management primers: cash forecasting

VENDOR ANALYSIS: ABCD, SPECTRUM, AND SOLUTION BRIEFS

  • Corporate digital banking platforms
  • Various solution briefs

VendorMatch, Celent’s new vendor discovery tool, is playing an increasingly important role in our vendor analysis. See more at https://www.celent.com/vendormatch.

Contact us for more information about what we have planned in Q4.

If you are a client, please sign in to access a detailed view of our Q4 2021 agenda.