Moreover, the research shows that the services that corporate clients would be most willing to pay for are real-time cash balances (84%), security and fraud prevention (74%) and a single real-time balance dashboard across multiple bank partners (70%). The report also highlights the risk of customer churn as corporates do not expect to pay for services such as virtual accounts and ISO 20022 compliance support and would switch providers to access them.
‘Expectation versus Reality for Payments Data Monetisation’ surveys 217 corporate treasurers and CFOs and 168 senior bank executives globally, providing insight into the business challenges facing corporates and their expectations for data-driven services, along with banks’ plans to address customer requirements through payments data monetisation initiatives.
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