Banking News

Analyst Meeting Summary – July 2024

(12 July 2024 – Global) East & Partners analyst meeting summary provides a unique insight into breaking research, analysis and thought leadership thematic drivers based on the valuable combined “voice of treasurer” and “voice of the bank”.

Outlook 2024

East & Partners Banking 2024 Outlook highlights key business banking trends to watch in the second half of 2024 and beyond, best of breed research and intelligence, informed decision making and thought leadership in the context of East’s global capabilities.

Across our research network and over the 76,800 direct interviews we executed with corporates and business banking decision-makers over the last 12 months, East & Partners’ team has evidenced clear macro drivers of market behaviour detailed in the latest Outlook – contact us to access your free copy.

“Based on the firm’s deep monitoring of financial products, behaviours, drivers and sentiment across 39 markets globally, East is seeing a vibrant and innovative year coming—one that holds full of opportunity for the banking sector. However, it is not all sunshine, with interest rates remaining at elevated levels and inflationary pressures impacting all businesses globally. Navigating these challenges, hand in hand with the customer, remains a key challenge for banks and lenders” states East & Partners CEO, Brett Williamson.

“The traditional banking system is reliant on Swift for international payments for many years and has helped leave the door open to Fintechs, but now they are closing the gap in innovation.”

“Going digital is the way forward for banks, but they need to be cautious about what they can do versus what their customers actually want. Banks are rightly governed by strict risk and governance rules which private credit is not held to, which could easily lead to trouble. The question for banks though is – are they missing out on deals they would have liked to win? If yes,

banks need to look at why businesses are not turning to them” commented East & Partners Principal Analyst, Paul Dowling.

“Brokers and Relationship Managers are a staple of business banking, reducing face to face interaction with either of them could reduce entanglement and prove to foster unpleasant experiences for customers. The latest East voice of the customer data provides valuable insight into specifically why corporates are considering recalibrating their supply chains, which markets they are switching to and where they most need support from their bank to successfully navigate increasing trade and supply chain finance uncertainty through H2 2024 and beyond” said East & Partners Global Head of Markets Analysis, Martin Smith.

At East & Partners we work together as one firm to serve our clients wherever they need us. Our collective knowledge and experience across global markets helps us guide clients on the intricacies of each region while enabling cohesion across their global footprint.

Global Insight Reports – Watch This Space…

In response to client demand for greater research scope and frequency, the format for Global Insight reports including the popular Resurrection of the RM, Digitising and Greening Global Supply Chains, Finding the Value in Green Banking, Future of Client Onboarding, Cracking the Bank RFP Code and many more will be generated more regularly and with greater access. Stay tuned for further updates on upcoming topic spaces with feedback welcome to steer the future direction of the reporting.

If Not You…Who Are Your Clients Thinking About?

Mind share is the most powerful leading indicator of new relationship share growth, revealing which banks are “front of mind” with corporates as measured by first name brand recall. This is, importantly, distinct from advertising recall which generally runs significantly lower in terms of recognition and awareness.

East’s long running Business FX UK service reveals “mind share” is dominated by Barclays, Citi and HSBC who cumulatively account for almost half of all first name brand recall for FX market wide. Interestingly within each group’s performance, a deeper analysis reveals not only how many customers of other FX providers are thinking of them first for FX, but how many of their own customers are thinking of other banks for FX…

In an ultra-competitive market featuring a broad range of high street and domestic UK majors, international banks and non-banks, how effectively are banks winning the hearts and minds of other customers but importantly keeping their own customers eyeballs on their offering. The research breaks down crucial drivers of first name brand recall, proof points linking mind share growth with relationship share growth and quantifies the often difficult to calculate ROI imperative from winning the intense mind share battle between UK FX providers.

June Analyst Meeting Summary

Last month East’s analysts investigated what data-based insights do banks really need for informed decision making, defining CFOs response to M&A activity and best practice corporate banking relationship management.