Summary of Global Corporate Banking 2018

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Global Corporate Banking 2018 summary

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8

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Digital innovation and fintech continue creating waves in retail banking, but now transformative change is hitting corporate banking as well. In a global survey conducted by experts at the Boston Consulting Group, a majority of the financial executives polled anticipate the emergence of a whole new competitive marketplace and the need to overhaul business fundamentals. Yet managers actively developing a strategy for their firms’ digital future are in the minority. In this insightful and accessible overview for technology and corporate banking leaders, the authors provide a logical framework for planning that critical transition.

About the Authors

Carsten Baumgärtner et al. are professionals with the Boston Consulting Group.

Summary

Corporate banking executives are facing an onslaught of change, as digital technologies create a massive disruption in their sector. A worldwide survey of corporate bankers reveals that 86% believe substantial changes in their business are imperative. But despite that widely held perception, only 43% have formalized strategic plans for a digital transition. This reality is troubling, given that “new digital platforms and channels will attract 30% of traditional corporate banking revenue” by 2023.

Innovations in corporate banking arising through fintech platforms include...


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