Global banks are either scaling back their transaction banking operations or exiting markets in under-performing regions, driven by shareholder expectations for higher earnings, regulatory obligations, low-interest earnings and increased competition.
It is imperative for incumbent banks to recognise that the ground is shifting with the emergence and influence of digital competitors and fintech firms growing rapidly. Despite their momentum however, agile ‘Fintechs’ and non-bank providers will need to choose whether they will move ahead alone or establish partnerships with their larger and more influential competitors.
How can traditional transaction banking providers mitigate the impact of increased competition? According to 3770 CFOs, corporate treasurers and business owners they must deliver banking products and platforms that provide security, seamless integration, simplified end-to-end user experience and value for money.
Not only should current transaction banking trends and customer expectations be of high priority to transaction banks, but also forecasted changes. East’s historical transaction banking research spans more than a decade, arming clients with exclusive market trending forecasts, changing customer behaviour, and evolving expectations.
The demand-side research effectively compliments internal risk management and performance procedures by accurately determining what specifically is driving CFOs’ and treasurers’ changing preferences and transaction banking relationship characteristics.
East’s transaction banking research programs cover the Asia Pacific region, including Australia, Hong Kong, China, the Philippines, Thailand, Taiwan, Singapore, Malaysia, Indonesia, South Korea and India. Included in the firm’s suite are: