Survey Highlights Accelerating Demand for Integrated Financial
Supply Chain Services and Further Consolidation of Transaction
Banking Businesses
LONDON, October 29, 2012 /PRNewswire/ --
Customer focus remains critical
with corporate treasurers demanding more services via
the mobile and online channels
Misys has announced the results of its annual survey of trends in
transaction banking. The responses from 105 professionals in the
trade finance, payments and cash management industry located in 40
countries highlighted the stronger strategic focus on customer
service and channel and product innovation. It also provided
evidence of the ever-increasing number of banks which have
integrated their transaction banking businesses.
The Global Transaction Banking Survey 2012, undertaken by Misys
and Finextra, showed that the days of having separate business
units responsible for cash management, payments and trade finance
are well and truly over. 90 per cent of banks have created a single
transaction banking group or plan to in the near future. While many
are still challenged by complexity in their IT environments, this
shows a consistent strategy across the industry of becoming much
more aligned with corporate customers' needs.
Mobile channel development is a growing trend, with 45 per cent
of banks ranking this a priority in the coming year, while 63 per
cent stated that expanding self-service channels such as mobile
would be part of their strategy over the next three years.
"The majority of people perform their personal banking online
and increasingly via mobile devices," states Tim Tyler, Global Product Manager, Misys. "This
is becoming the norm for consumers. Corporate treasurers and
transaction banking professionals now expect all their services
from banks to be available to them via the same channels as their
personal banking services."
Financial supply chain solutions are more widespread and mature
in the market, with 88 per cent of respondents saying their bank
has, or will soon offer, financial supply chain services for
corporates. But there is still work to be done, with most of these
banks expressing dissatisfaction with the sophistication and
packaging of their current solutions.
As open account trade continues to rise in most markets, there
is increasing interest in the new Business Payment Obligation (BPO)
instrument to achieve better standardisation and reduce risk.
At the same time, more than half of banks are demanding
simpler ways to manage regular updates to existing standards. Both
of these results are good news for SWIFT, given its current
involvement with the International Chamber of Commerce (ICC) to
develop the BPO, and its work with member banks and corporates on
the MyStandards platform.
A copy of the full report on the results of The Global
Transaction Banking Survey 2012 can be found here.
About Misys
Misys is at the forefront of the financial software industry,
providing the broadest portfolio of banking, treasury, trading and
risk solutions available on the market. With 1,800 customers in 120
countries our team of domain experts and partners have an
unparalleled ability to address industry requirements at both a
global and local level.
Misys was formed by the merger of Misys with Turaz, which
includes the award-winning Kondor+ product line. Combined
they are able to address all customer requirements across both the
banking and trading book businesses. Misys is the trusted partner
that financial services organisations turn to for help solving
their most complex problems.
Find out more at http://www.misys.com
For further information please
contact
Edward Taylor
Global Head of Public Relations
Misys
+44-(0)20-3320-5530
edward.taylor@misys.com