- Mobile solutions for corporates are becoming mainstream. My colleague Zil and I noted the start of this trend at the recent SIBOS conference in Amsterdam. There were a ton of announcements, and demos were being showcased in the exhibit hall. Announcements were made by PNC, Union Bank, and Citizens Financial Group to name a few. Bank of America Merrill Lynch was also showcasing a mobile demo for its CashPro product. I first wrote a report on corporate mobile banking in 2007, complete with a case study on Wells Fargo’s CEO Mobile. My report was a tad early for the market, and now that things are progressing I will revisit the topic in a 2011 report. Stay tuned!
- Growing interest in small business online banking solutions. Many of the conversations I had at the AFP were on the topic of small business online banking. The majority of banks still have no clue what differentiates a small business online banking solution from a corporate cash management solution. Luckily, I have addressed this topic with a vendor evaluation of small business online banking solutions. The report was released last week, just in time for the AFP, and provided for lots of questions from banks and vendors. A second report on the subject is forthcoming and should be released by the end of the month.
- Portal perplexity. To portal or not to portal? Several banks I spoke to are in the middle of trying to determine if they should build a corporate banking portal that would encompass all transaction banking services. This dashboard would provide quick task execution, at a glance info, and be fully customizable. The build versus buy debate was raging, coupled with the difficulty of integrating multiple vendor solutions.
- The cash management market is still on fire. The number of banks that have sent out RFIs or RFPs is staggering. I am still amazed at how many banks are undertaking decisions here. The fact is however that some of these fires are the same ones we witnessed last year – sales cycles and decision making times are long. Solution replacement growth is still quite strong and I expect it to continue well into 2011.
Those are my quick hits from the conference. I welcome all comments and thoughts. I also encourage those of you who were in attendance to share your experiences!