The Next Generation of Online Corporate Cash Management Solutions
Although the online cash management technology market has reached maturity, it is far from equilibrium and even further from decline. On the contrary, it continues to be ripe for innovation and advancement, replacements, and new features.
Celent believes that a dramatic shift will take place at most banks over the next three years. Although they have been slow to come out of the gates, banks will recognize the necessity for change and will completely alter their online cash management experiences. A great opportunity exists for one or more vendors to stand out from the pack by demonstrating a differentiated, next-generation customer experience.
In a new report, The Next Generation of Online Corporate Cash Management Solutions, Celent compares the range of solutions available to financial institutions of all sizes looking to purchase a new cash management solution or upgrade an existing one. A handful of vendors have started to release next-generation products and have emerged from the pack. However, the majority of vendors in have done little with regard to innovation and customer experience.
"Cash management is taking center stage this year in the wholesale banking space. It is receiving increased attention as banks look to upgrade or augment their aging platforms to woo business," says Jacob Jegher, senior analyst with Celent's Banking group and author of the report. "It is encouraging to see that a handful of early movers are starting to show signs of next-generation offerings."
This report examines nine online cash management solutions across eight different providers: ACI Worldwide, Bottomline Technologies, Digital Insight, an Intuit Company, Fiserv (Banklink), Fiserv (Checkfree), Fundtech, Metavante, S1 Enterprise, and Sybase Financial Fusion.