Treasury Modernization – Are Banks Missing the Boat?
While commercial clients account for, on average, less than 15% of bank’s clients, their deposits often represent over 50% of total deposits. So why aren’t banks innovating and modernizing their treasury products and offerings to better serve this important commercial base? Driven by the need to keep up with consumer expectations around payments and mobile apps, banks have prioritized innovation around their personal banking divisions. Think of how drastically payments have changed in just a short time, with seamless payment processes of an Uber ride, P2P e-transfers, and mobile payments such as Starbucks to make consumers lives easier. Commercial Clients Are Expecting More Commercial clients are beginning to request these same innovations for their finance teams. “Why can’t we have business payments and mobile apps like I have in my everyday consumer life?” The shiny new toys in retail banking are now giving way to the need to innovate on Read More