B2B PAYMENTS Digitization Could Halt Corporate Banks’ Shrinking Profits, Analysts Say
Separate analysis released last September from Finastra and Celent found corporate banking revenues are expected to hit $915 billion by 2020, a 4 percent increase from 2016 levels and double the growth rate seen between 2010 and 2016.
They published their own report, “Connected Corporate Banking: Breaking Down the Silos,” which similarly highlighted the opportunity of digitization for the world’s corporate banking sector.
“In 2016, corporate banking made up 38 percent of overall operating income across 20 of the world’s largest banks,” said Celent Senior Analyst Patricia Hines in a statement at the time. “Banks that want to attract and retain this business must continue to invest updating and enhancing their technology infrastructure while embracing emerging technology.”