Transaction Banking Bets on Self-Service Solutions

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. The Survey reported on the trends for 70 financial institutions all over the world – 53% of them European.

One of the most important trends registered was the rise of mobile solutions for transaction banking. The report uncovered that 45% of those banks surveyed were making mobile solutions a priority. 63% also put the expansion of self-service channels, including mobile, as part of their three-year strategy.

“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.”

As a result of the research Mysis has launched mobile versions of its trade finance and cash management products to help its banking customers meet the growing demand from their corporate customers for these services.

Read the full report here.

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