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Introduction

Corporate banks' lack a full picture of the needs of their corporate treasury clients. The introduction of RTP infrastructures allows them to develop product and service offerings that go some way to addressing core corporate treasurer pain points.

Highlights

  • It is hard to over-stress the changes that will result from open banking initiatives, mandatory or otherwise. Financial institutions must recognize that RTP infrastructures are the first step in that transformation and plan accordingly.

Features and Benefits

  • Learn why 80% of corporate treasurers have considered changing banks in the past year.
  • See how customer expectations change once RTPs are implemented

Key questions answered

  • What services would corporate treasurers most value from their bank?
  • How are banks responding to the challenges of RTPs and open banking?

Table of contents

Summary

  • Catalyst
  • Ovum view
  • Key messages

Recommendations

  • Recommendations for financial institutions
  • Recommendations for vendors

Corporates face many challenges, some of which are due to gaps in bank services

  • Managing multiple accounts and obtaining easy access to transaction data remain key issues
  • While corporate needs are changing, managing cross-bank complexity and data access remain key unaddressed issues
  • There are gaps in understanding between what corporates need, and what banks believe they need

Real time provides a platform for wider enhancements to corporate banking services

  • Access to RTPs increases the expectations corporates have of their bank partners
  • Real time enables immediate enhancements to several areas of the corporate banking proposition
  • An additional benefit of real time is that investments in reducing financial crime risk can also solve a clear corporate pain-point

Ultimately, it is investments on top of real time that will allow banks to address future corporate needs

  • The benefits of RTPs alone do not make a meaningful difference to corporate satisfaction
  • Diverging development plans between those markets with and without real time will drive gaps in future corporate services
  • The combination of real-time and open banking initiatives will enable further improvements for banks

Appendix

  • Methodology
  • Further reading
  • Author

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