(1 April 2010 – Australia) A growing number of Australian corporates (businesses turning over between A$20 and A$340 million per annum) require their bank to provide international transaction banking services, according to the East & Partners’ latest Corporate Transaction Banking Report.In August 2008, just over 1 in four 4 corporates were using cross border
payments. However East & Partners’ February 2010 report shows this figure has
risen with nearly 1 in 3 corporates now using cross border payments.
Of equal significance is the fact the Easts’ latest report shows that over 27
percent of corporates are using full service international transaction banking,
further underlining the increasing importance of a bank’s international
capabilities and inter-country presence.
“A bank’s international capabilities and respective product offerings have
obviously been important for some time now for those businesses that reside in
the top end of town,” Mr Morgan, East & Partners’ head of market analysis said.
“However, a growing number of companies with lesser revenues clearly want their
bank to demonstrate international credentials and be able to genuinely provide
international transaction banking,” Mr Morgan went on to say.
“Such an increased focus by corporates on a banks’ presence and capabilities
outside of Australia is a clear point of leverage for the banks to this customer
base,” Mr Morgan concluded.
About East & Partners’ Corporate Transaction Banking Markets Report
East & Partners’ Corporate Transaction Banking Markets Report is an ongoing
six-monthly research service designed to deliver bank market share, wallet
share, customer satisfaction, mind share, engagement and churn analysis for
transaction banking products among companies turning over between A$20 and A$340
million per annum. The program is based on structured interviews with some
+/-880 companies every six months.
For more information please contact:
Brett Williamson
Chief Operating Officer
East & Partners
t: 02-9004 7848
m: 0403 499 844
e: brett.w@eastandpartners.com