Wholesale banking units have experienced nearly flat or even declining revenues over the past several years. At the same time, corporate clients of
wholesale banks are crying out for strategic partnerships that allow them to automate and control financial processes; share real-time data with their
internal and external suppliers and customers; and seamlessly process financial transactions and information.

New research from TowerGroup finds that those institutions that intend to compete in wholesale banking for the long term must take action to redefine their business model now - or risk becoming irrelevant. Traditionally disjointed product and organizational silos are impeding the ability of wholesale banking organizations to meet evolving client demands for automation and integration, as well as to build new revenue sources.

Convergence in the context of wholesale banking can help drive organizations toward more client-centric solutions - providing clients with comprehensive
and integrated solutions for managing global working capital and liquidity across different wholesale banking units and functions. A new TowerGroup
report titled "Convergence in Wholesale Banking: Growth Strategy or Wishful Thinking" by Susan Feinberg, senior analyst in the Wholesale Banking
research service at TowerGroup, defines convergence as it applies to wholesale banking and examines the convergence strategy as an engine for

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