The Online Corporate Cash Management Market is on Fire!
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Celent have reviewed this profile and believe it to be accurate.
11 May 2009Jacob Jegher
Consumer online banking gets a lot of attention in the industry. It's important to remember however that online banking reaches far beyond the consumer space. Businesses of all sizes bank online and they require more sophisticated solutions. We recently evaluated the vendors who provide online corporate cash management solutions. The report, The Next Generation of Online Corporate Cash Management Solutions is of particular importance for 2 reasons:
- Online corporate 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 additional business. Growing corporate relationships is a major theme as banks aim to offset the lackluster growth on the retail side and focus on higher margin businesses that contribute to noninterest income. In fact, spending growth on online corporate cash management solutions by far exceeds IT spending growth of the overall banking industry.
- Celent believes that a great opportunity exists for one or more vendors to stand out from the pack by demonstrating a differentiated Web 2.0 user experience. This has already started as a handful of the vendors we evaluated showed off differentiated experiences using Web 2.0 elements. Dashboards, interactive reporting, and improved user interfaces are starting to pop up as the vendors recognize the need for change and improvement.