Global Corporate Banking Revenue Growth Poised to Double by 2020, say Celent and Finastra
14 September 2017
New report highlights $915Bn 2020 revenue pool for global corporate banking - winners will be those that can exploit technology most effectively
London, UK, 14 September 2017 – A new report from Celent forecasts that global corporate banking revenue is set to grow 4 percent from 2016 to 2020, a doubling of the growth rate recorded between 2010 and 2016. The report highlights that transaction banking and commercial lending represent a $915Bn revenue opportunity through 2020, and high-performing banks have an opportunity to grab an outsized share of the corporate banking wallet. In addition, the report predicts that automation and deep digital adoption could save the wholesale banking sector between $15Bn and $20Bn.
The report from Celent, ‘Connected Corporate Banking: Breaking Down the Silos’, looks at the defining capabilities banks need to serve corporate banking customers. It also assesses vendors based on the full breadth of their corporate banking capabilities. Finastra’s corporate banking platform emerges as the broadest, most integrated suite of applications, connected on a single platform for corporate banking. The analysis covers bank requirements and vendor capabilities across cash management, trade and supply chain finance, lending and credit, digital channels and back office and accounting capabilities, including payments and loan servicing.
To view the full press release, please visit Finastra.com