Its Survival of the Fittest for US Cash Management Vendors

Wednesday 21 January 2004 16:21 CET | News

Celents latest report, "Ranking the US Vendors of Cash Management Solutions 2003: Survival of the Fittest," looks at how corporate banking initiatives, which have traditionally received only about one-third of total IT budgets, are attracting more attention as banks seek to improve service to their business customers.The report compares the solutions of 10 leading vendors and ranks them against 5 major criteria including depth of features/functionalities, financial viability, number of successful deployments/experience in the space, client support/services offered, and solution usability. Adoption, IT spending, and marketplace trends are also examined. Table 1 summarizes the results of the study. The increased attention and investment in corporate customers is causing greater activity in the cash management space as vendors engage in fierce competition for their business. Gone are the days when cash management services were limited to large banks. Vendors have begun to move down-market to target even small financial institutions whose customers have become more demanding. Today’s solutions also offer more advanced capabilities than they have in the past. Many are beginning to offer functionalities beyond traditional cash management transactions such as trade finance and loan origination.

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Categories: Payments & Commerce | Payments General
Countries: World
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