Wholesale / Commercial Banking Systems Insights

The spread of the coronavirus and governments’ subsequent reaction has led to a surge in the adoption in contactless payment methods such as card and mobile payments. A report released by global data and insights firm Dynata, surveyed over 11,000 consumers in 11 countries found a universal uptick in the adoption of contactless payments. ... read more

In the digital age, banks are looking for ways to remain relevant and distinctive. Experts believe that banks who maintain high levels of customer satisfaction will eventually conquer market share. This means that it is crucial for financial institutions to deeply understand and fully fulfil the needs of increasingly digital customers, at every... read more

Insurers face new threats as impact of coronavirus challenges tech stacks and complicates customer contracts. While the shock of the pandemic is being felt across all industries, insurers are grappling not only with the need to revamp legacy technology, but the potential loss of trust from customers who rely on them for support as the lockdown... read more

Relationships between cryptocurrency institutions and traditional banks will bolster crypto’s legitimacy, market participants predict. “It appears the reputable, blue chip coins finally have a hard-won place in the mainstream. Institutional grade exchanges finally being accepted into the old boys’ club will do wonders for... read more

Fintech firms expect it will take over a year for their sectors to bounce back from the impacts of the coronavirus, according to a bobsguide survey conducted in April and early May. But while most respondents reported a negative impact from the pandemic – with a sudden drop in sales and quick re-structuring of their business models –... read more

B2B payments may finally see widescale innovation according to some market participants, with both Visa and Mastercard bolstering their business payments services this month. “We’ve seen a huge amount of interest in innovation in general at this stage,” says Paul Raymond, director of strategic relationships, Conferma Pay. The... read more

UK challenger banks and non-bank lenders could see more SME client acquisitions from offering the government’s Bounce Back Loans (BBL) and Coronavirus Business Interruption Loan Scheme (CBILS), says Kirsty McGregor, founder and chairman, The Corporate Finance Network (CFN). But those unable to adapt may fall out of the ecosystem. “I... read more

As companies adjust to remote working and unprecedented drops in revenue, cash management becomes the chief concern for business continuity, says John Byrne, owner and CEO, Salmon Software. Effective cash management is reliant on strong treasury management systems (TMS) with a focus on data integration and automation of services. ... read more

Incumbent banks have slashed profits to prepare for corporate defaults because they aren’t flexible and agile enough to manage their books with confidence, according to Barbanel. An article by the Financial Times estimated that banks had built a cumulative total of $50bn in reserves to cover coronavirus-related losses, with HSBC funnelling... read more