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IDC FutureScape: Worldwide Corporate Banking 2019 Predictions

Published by IDC Product code 738762
Published Content info 21 Pages
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IDC FutureScape: Worldwide Corporate Banking 2019 Predictions
Published: October 31, 2018 Content info: 21 Pages
Description

This IDC FutureScape discusses the worldwide corporate banking sector and is a planning tool for technology leaders and their line-of-business (LOB) counterparts to use in their IT strategic planning efforts. It provides foresight for tech-based strategies by laying out IDC Financial Insights' top 10 predictions over the next five years. Each prediction identifies the IT and business impacts of the projected imperative, providing guidance and a cost/complexity assessment alongside external drivers and trends impacting this sector. "The 10 predictions in this inaugural corporate banking study are reflective of a major change underway in the sector as digitalization and internal DX escalate, while cognitive, connective, and analytical technologies develop in cloud, AI, and DLT fields," said Neil Ainger, research manager, Worldwide Corporate Banking, IDC. "Meanwhile, the open banking and API trend promises new front-end, data-centric tools in the pricing of loans, trade finance, instant-payment route analytics, liquidity alerts, and so on, plus new services and market entrants. The pace of change will reach an inflection point in the next five years."

Table of Contents
Product Code: EMEA44384418

IDC FutureScape Figure

Executive Summary

IDC FutureScape Predictions

  • Summary of External Drivers
  • Predictions: Impact on Technology Buyers
    • Prediction 1: Cross-border payment tracking will be improved by the SWIFT gpi quasi-standard, but only 10% of banks on the network will monetize it by 2020 with their own extra data-rich analytics
      • Associated Drivers
      • IT Impact
      • Business Impact
      • Guidance
    • Prediction 2: Corporate treasury participation in Real-Time Payment infrastructures will not top 10% by 2023 awaiting interoperability, but banks will be ready for them as RTP use cases evolve and limits rise
      • Associated Drivers
      • IT Impact
      • Business Impact
      • Guidance
    • Prediction 3: In 2021, 20% of tier 1 corporate banks will have invested in building platform capabilities to take on critical roles in the IoT ecosystem: M2M payments, data-driven accounting, and cash optimization
      • Associated Drivers
      • IT Impact
      • Business Impact
      • Guidance
    • Prediction 4: Spending in blockchain-based trade finance will grow at a five-year CAGR of 75.6%, hitting $669.9 million by 2022
      • Associated Drivers
      • IT Impact
      • Guidance
    • Prediction 5: Enterprise payments to consumers (B2C) using electronic payment rails will surpass $20 trillion worldwide before 2021
      • Associated Drivers
      • IT Impact
      • Business Impact
      • Guidance
    • Prediction 6: With the increase in financial accounts in developing markets, 33% of monthly consumer bills worldwide will be paid via electronic means by 2022
      • Associated Drivers
      • IT Impact
      • Business Impact
      • Guidance
    • Prediction 7: By 2020, 10% of banks worldwide will have allocated at least 5% of IT budgets toward connecting corporate and retail banking core systems to improve credit decisioning for the SME customer segment
      • Associated Drivers
      • IT Impact
      • Business Impact
      • Guidance
    • Prediction 8: By 2021, 20% of tier 1 and 2 banks worldwide will leverage APIs and share at least three external corporate banking apps with peer FIs for improved risk assessment, credit decisioning, and co-lending
      • Associated Drivers
      • IT Impact
      • Business Impact
      • Guidance
    • Prediction 9: A fifth of corporate treasurers will be using AI/ML capabilities in 2023 supplied by their banks to support automated finance decision making
      • Associated Drivers
      • IT Impact
      • Business Impact
      • Guidance
    • Prediction 10: Advances in mobility, including smartphones, tablets and other IoT devices, will improve treasury operational efficiencies by 50% by 2022
      • Associated Drivers
      • IT Impact
      • Business Impact
      • Guidance

Advice for Technology Buyers

External Drivers: Detail

  • Next Chapter of DX - Technology-Driven Transformation Altering Business and Society
  • Platforms, Platforms, Platforms - Industry Competes for Innovation at Scale
  • Sense, Compute, Actuate - Turning Data into Value
  • New Nature of Risk - Innovation Requires New Thinking in Security and Risk Management
  • Emerging Autonomy - Learning to Live With AI
  • Rising Customer Expectations - More Convenience, Customization, and Control
  • Legacy Inertia - Retrofit the Old into the DX World

Learn More

  • Related Research
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