Top Trends in Corporate Banking 2016: Turning Innovation into Results
Banks are facing a complex new reality that is different from the one they faced even a year ago. The impact of disruptive technology, the changing role of corporate treasury, and regulatory imperatives are all shaping corporate banking strategy in new and unprecedented ways.
Corporate banks continue to place an enormous focus on investing in digital channels to meet the ever-increasing demands of clients for enhanced tools while boosting security and fraud prevention.
Despite this investment, corporate banking has lagged in terms of adoption of innovative technologies. To improve that performance, corporate banking lines of business are undertaking a broad set of initiatives to overcome the inertia that has left clients behind in terms of innovation.
This report shares Celent’s analysis of the top trends in corporate banking technology based on recent interactions with banks, technology partners, industry utilities, regulators, and corporate clients. The report includes specific recommendations that banks should pursue to thrive in 2016 and beyond.
“In 2016, leading banks will make major progress in digitizing the most paper-intensive aspects of their business while enhancing client channels,” says Susan Feinberg, a senior analyst with Celent’s Banking practice and author of the report. “We see trade finance and customer onboarding as two of the largest opportunities for improving efficiency and enhancing client satisfaction.”