Anders Olofsson, Head of Payments, Finastra

London based Fintech provider Finastra recently concluded a research on the “Digital Disruption to the Corporate Treasury”. It inferred that this particular segment has seen disruptions and a technical shift inclined towards fintech as the market dynamics have shifted from traditional banking channels.

This survey used a data of 380 corporate treasurers from enterprises across Europe, the Middle East and Africa (EMEA); with 70 % of the entrants believing about the shift from bank to non-bank services within their organization over a period of 2 to 5 years. 16 % of the entrants revealed that this change had already taken place.

The demand for non-bank corporate treasury services has seen an upsurge amongst treasures, as treasurers look to leverage technology to drive value and enable real-time automation in payments. Top priorities for the year ahead, for treasurers from the survey, showed a high inclination towards financial technology enablers such as real-time payments reporting (74 %), cash management technology (66 %) and risk management technology (58 %). A significant proportion also notes the opportunities on offer through more advanced technologies like AI and machine learning (40 %) and mobile channels (31 %).

Anders Olofsson, Head of Payments, Finastra said, “Demand for convenient, real-time, digitally-enabled services has finally come to the corporate treasury. Treasurers are seeing first-hand the benefits of powerful technology platforms that use open APIs to connect cutting-edge services and are open to collaborating with third parties to benefit from these technologies. Banks need to act fast to strengthen their relationships with customers and offer the innovative services they demand.”

Finastra is believed to have conducted this research in association with Cheers Interactive, a research firm, to survey 380 corporate treasurers from companies in Eastern Europe (100), the Middle East & Africa (80), Northern Europe (120) and Southern Europe (80).

 

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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