Corporate clients expect financial institutions to improve their integration technology services to meet their growing banking needs.
New research from TowerGroup finds that clients require solutions that allow them to select communications protocols, data formats, and security methods to best meet their own requirements and integration capabilities.
To meet these demands in a cost-effective manner, TowerGroup advises that banks must partner with technology providers offering deep expertise in business-to-bank (B2Bank) integration.
“Banks must demonstrate their commitment to providing corporate customers with robust and flexible integration solutions,” said Susan Feinberg, Research Director of the Wholesale Banking practice at TowerGroup and author of the research.
“With clients expecting higher levels of resiliency and service quality, real-time integration to accounting and treasury systems, and faster implementation of new products and services, banks need to choose the B2Bank solution provider that best aligns with their strategy to meet clients’ objectives,” Feinberg said.
Findings of the research state that:
- Banks increasingly view B2Bank integration solutions as critical to the technology infrastructure needed for the deeper integration clients demand
- B2Bank solution providers are approaching the market from a range of different perspectives
- Bank executives should determine which provider’s vision best matches their own regarding the future demands for B2Bank integration capabilities
- Financial executives must determine which company is likely to provide the most successful long-term partnership for them and their clients