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Introduction

The wholesale banking and payment sectors are expanding their IT budgets in 2017 to improve customer offerings, modernize systems, and invest in new capabilities, products, and services as real-time payments and open APIs are introduced.

Highlights

  • On the IT side, the ability to function in a real-time, always-on environment will be a high priority.
  • Open APIs will become increasingly important as a means of consuming and supplying customer information. They will also provide new opportunities for competitive service offerings.
  • Immediate payments infrastructures will be rolled out in the US, the EU, and other major centers before the end of 2017, increasing pressure on all financial institutions and market infrastructures to modernize their systems and architectures.

Features and Benefits

  • Analyzes the business trends and technology enablers for wholesale banking and payments in 2017.
  • Learn why immediate payments will present opportunities to improve corporate banking services.

Key questions answered

  • Why are 82% of corporate banks actively investing in open APIs?
  • Why is cash management and reporting a top investment priority in 2017?

Table of contents

Summary

  • Catalyst
  • Ovum view
  • Key messages

Recommendations

  • Recommendations for enterprises
  • Recommendations for vendors

Business trends and technology enablers

  • IT budgets will grow strongly in 2017 as wholesale institutions modernize their platforms to deliver new customer services
  • Online and mobile interfaces will see the strongest budget growth, alongside risk management
  • Product and service enhancements are the focus of investment in cash management

New infrastructures create new opportunities

  • Immediate payments are key to service enhancements

Appendix

  • Methodology
  • Further reading
  • Author

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