Today CGI and GTNews have announced the launch of the fifth annual Transaction Banking survey report, which offers which offers critical insight into the corporate-to-bank relationship.
This year’s survey results are fascinating, and in many areas showed a marked difference in attitude to services between corporates and banks.
54% of corporates surveyed this year were highly satisfied with their banking relationships, on par with 2016 figures following a marked decline in satisfaction between 2015 and 2016.
Other key findings from this year’s report include that 62% of corporates are seeking support from banks in coping with upcoming regulation, but only 39% of banks are currently prioritising this service.
In addition, 43% of banks now profess to be moving to a global model, an increase from 31% in 2016.
GTNews conducted the 2017 CGI Transaction Banking Survey from June to July 2017. The survey was sent to GTNews corporate practitioner subscribers and banking services providers. The primary purpose of the survey was to better understand attitudes and emerging trends in banking services and also to identify how banking services are meeting the needs of finance professionals.
More than 300 responses were received from about 140 corporate practitioners working in their organization’s treasury or finance function and 240 banking services providers. Due to the sample size obtained, regional analysis was limited to responses from those financial professionals whose businesses operate in the Asia Pacific, North America and Western Europe regions.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.