Top Trends in Corporate Banking 2016: Turning Innovation into Results

by Susan Feinberg, March 8, 2016
Industry Trends
Global

Abstract

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.”

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

3

Digital and Omnichannel

4

 

Transforming Corporate-to-Bank Connectivity

5

 

Assessing Evolving Security and Fraud Threats

6

 

Enhancing Trade and Supply Chain Delivery

7

Innovation and Emerging Technologies

10

 

Embracing Partnerships with Fintech and Non-Bank Service Providers

11

 

Anticipating Distributed Ledger Technology Beyond Payments

11

 

Leveraging Open APIs

12

Legacy and Ecosystem Transformation

14

 

Adapting Liquidity Management Strategies

14

 

Reducing Friction in Client Onboarding

14

Other Trends to Keep an Eye On

16

 

The Internet of Things

16

 

Use of Open APIs for Creating Industry-Specific Applications

16

Path Forward

17

Leveraging Celent’s Expertise

18

 

Support for Financial Institutions

18

 

Support for Vendors

18

Related Celent Research

19

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