Keywords: Fundtech, treasury, CASHplus, purchase to pay, procure to pay,

Banks missing crucial opportunity to offer multi-channel mobile access to treasurers

Susie West | News | 16 October 2012

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Global transaction banking solutions provider Fundtech announced the findings of a sponsored study from Treasury Strategies that explores the growing demand for integrated, multi-channel (desktop, tablet and smartphone) banking services among corporate treasurers.

The independent treasury management consulting firm, Treasury Strategies surveyed over 200 companies of various sizes across six continents and found overwhelming evidence that corporates are placing greater value than ever before on consistent multi-channel access to information and services from their banks. Almost 80% of respondents felt it was important that their bank offer multi-channel access, and over half said it would be a key decision factor when selecting a new bank relationship.

Growing importance of consistent multi-channel access

The rapid growth in business use of tablets and smartphones is changing the way companies of all sizes interact with their banks. The research found that companies will make a massive leap over the next 12-18 months from single-channel to multi-channel use and that treasury professionals expect their banks to offer a consistent experience across all channels:

43% of those surveyed are currently using more than one channel to access their treasury information and services. Over the next 12-18 months 60% expect to use multiple channels, an increase of nearly 50%;

• Over the next 12-18 months the number of treasurers using only a single channel (presumably desktop) to access bank information and services will decline by more than 50%;
• 78% say that accessing their treasury information and transaction services in a consistent way across all channels is either extremely or very important;
• Less than 8% consider multi-channel access not important at all

Download the treasury strategies report on multi-channel bank access.