Top Trends in Corporate Payments: 2014 Edition
This report presents the top six corporate payments issues that Celent analysts dealt with in 2013 and expect to see develop in 2014.
The trends listed in this report are not necessarily the most important issues in any given country globally, or even for any given institution. However, they represent a reasonably accurate portrayal of important topics in the developed markets.
Some of them have been covered in more detail in other reports published by Celent throughout the year, but others are discussed in writing here for the first time.
In addition to the six trends, we capture some developments that we think are interesting and relevant, but can be discussed in a few paragraphs rather than a few pages.
The trends covered in this report are:
1. Real Time Payments
2. Payment Services Directive II
3. Regulation of Payments
4. Payment Services Hubs: The Second Act
5. Connectivity and Alternative Networks
6. SEPA. Still.
Briefly discussed trends include:
7. E-Invoicing — with a Twist
9. Corporate Cards
10. The Growing Gap Between Regulation and Innovation
“For many corporate bankers and their clients, 2013 felt like a return to business as usual. However, for corporate payments it’s been business as usual all along. They continued to operate seamlessly and at increasing volume throughout the crisis. Yet there were also changes in expectations from clients and ever-advancing technology,” notes Gareth Lodge, Senior Analyst in Celent’s Banking group and author of this report.
“As a result, there is pent-up demand for change. For example, real time payments are firmly on the agenda in multiple countries, but the challenge is balancing innovation with the very real pressures of run-the-bank issues such as payments regulation. The banks that can execute on both effectively will be the most successful for sure,” he adds.
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 a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
Real Time Payments
Payment Services Directive II
Regulation of Payments
Payment Services Hub: The Second Act
Connectivity and Alternative Networks
And Finally …
E-Invoicing — with a Twist
The Growing Gap Between Regulation and Innovation
Leveraging Celent’s Expertise
Support for Financial Institutions
Support for Vendors
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