Evolution of Corporate Banking: APAC Trends and Implications for Japanese Financial Institutions

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10 December 2019
Eiichiro Yanagawa

Corporate banking is at a critical juncture of accelerated change. Players in the corporate banking arena need to advance rapidly, taking significant strides to compete effectively with financial institutions at the vanguard of technology as well as digital giants and fintech firms. Companies need to cease product-centric approaches and embrace a customer-centric approach, one that reimagines and improves the customer “journey.” Banks need to digitize paper-based processes and put top priority on shifting from intuition-driven decision-making to data and analysis-driven decision-making. Against this backdrop, Celent uses this report, Celent to discuss business opportunities and technological possibilities in this context.

Celent examines approaches to generating superior results in corporate banking from three perspectives. This is the fifth installment in this series on the ongoing digital transformation in Japan’s banking industry and related possibilities inherent in legacy and ecosystem migration, innovation, and emerging technology.

The following are the three perspectives highlighted in this report:

  • Factors driving growth in transaction banking
  • Business opportunities in SME banking
  • The path to the evolution of connected corporate banking

Banks will need to work to maintain the existing global revenue pool that is estimated at close to 1 trillion dollars by Oliver Wyman (estimate of the total based on payment and cash management services, trade finance, and lending). Toward this end, and also to make inroads into new markets, they will need to work closely with corporate finance staff and relationship managers to enrich the customer experience. Areas urgently requiring attention include providing bank staff with data analysis tools, adopting agile delivery models, and use self-service solutions to improve collaborative efforts with clients. In addition, it will also prove important to adopt a design-oriented approach and partner with cutting-edge solution providers to strengthen the overall corporate banking organizational structure.

Steps to Reaching the Next Level of Connected Corporate Banking

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