'Transaction banking' to emerge as a major banking trend in 2009 according to study done by TowerGroup
A recent study into the current and emerging banking trends in the United States indicates that global transaction services (the so-called "transaction banking") are to constitute an important focus of future strategies.
Moreover, the research indicates that 2009 is to be marked by a few clearly defined trends – renewed attention to core competencies, increased attention to small business and corporate and institutional clients, and integrated banking solutions and delivery channels including online banking and electronic bill payment. The report also predicts that banks are to continue their investments in the technology sector, which allows them to improve their relationship management by unifying corporate online banking portals, improving analytics and enhancing automated online client integration and enrollment.
Finally, the study predicts that revenues from retail and investment banking are to continue to fall, causing banks to focus on wholesale and transaction banking revenues for compensation.
The study was carried out by research and advisory services provider company TowerGroup.
