Business Wire

Icon Solutions: Biggest Revenue Opportunities From Payments Data Monetisation Revealed in New Research Surveying Global Corporates

Share

Research conducted by Celent on behalf of Icon Solutions and MongoDB has revealed the bank data services that corporates will pay for, and the ones they consider table stakes. Findings show the services that corporate clients would be most willing to pay for are real-time cash balances (84%), enhanced security and fraud prevention (74%) and a single real-time balance dashboard across multiple bank partners (70%). The report also highlights the risk of customer churn as corporates do not expect to pay for services such as virtual accounts and ISO 20022 compliance support and would switch providers to access them.

Expectation versus Reality for Payments Data Monetisationsurveys 217 corporate treasurers and CFOs and 168 senior bank executives globally, providing unique insight into the business challenges facing corporates and their expectations for data-driven services, along with banks’ plans to address emerging customer requirements through payments data monetisation initiatives.

Payments data monetisation is an increasingly key strategic priority for banks, with 38% reporting it as an objective of technology transformation investments. This is being driven by growing margin pressure and competition, evolving customer expectations and migration to real-time payment infrastructures and ISO 20022.

“Corporate clients are increasingly looking to their bank partners to help them run more efficiently, and this creates a number of opportunities for new revenue-generating services,” explains Kieran Hines, Senior Analyst at Celent. “Greater access to real-time data, including real-time forecasts, are high on the wish lists of clients, alongside enhanced security and analytics-driven tools to support decision making. However this is not the whole story, and there are several services that corporates want to access but are unwilling to pay for – in other words becoming ‘table stakes’. With many corporate clients looking to rationalise their bank relationships, banks should consider investing in new data-led services to both support client retention as much as to drive the top line.”

Toine van Beusekom, Strategy Director, Payments at Icon, comments: “The implications of this report for banks are clear. Inaction is not an option and investment is urgently needed just to retain existing business and relevancy, let alone generate new revenues. But payments data monetisation is not a one-off product initiative, it is a strategy that must span the entire organisation. This means that technology spend and transformation strategies must be directed towards doing the fundamentals extremely well and lowering the cost of delivering standardised, accurate and complete payments data in real-time. By doing this, banks can build the foundations that deliver the flexibility and agility to respond to the evolving needs of corporate clients.”

Ultimately, the report highlights that payments data monetisation is about more than revenue. The real opportunity is to move the relationship with corporate clients away from banking being about consumption of products, towards acting as true partners for customers. This shift in perception holds the key to long term revenue and margin growth.

To learn more, download the full report here.

-ENDS-

About Icon Solutions

Icon Solutions empowers banks and payment service providers to realise the potential of payments. It combines unique IT and engineering expertise with deep payments knowledge to accelerate payments transformation, dramatically reducing costs while delivering innovative new customer experiences, increased agility, and resilience. Its leading-edge cloud-native payments solution, IPF, provides the foundation for banks looking to transform payments environment for a real-time, digitalised, data-driven world.

Clients include leading international institutions such as BNP Paribas, HSBC and Lloyds Banking Group.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Beckie Richardson
iseepr beckie@iseepr.co.uk

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

DXC Technology Completes Refinancing Actions24.9.2021 22:30:00 CEST | Press release

DXC Technology Company (NYSE: DXC) (“DXC”) today announced the completion of its refinancing. DXC previously completed the offering of €1.35 billion Senior Notes priced on September 2, 2021 and $1.35 billion Senior Notes priced on September 7, 2021. DXC completed redemption of $2.5 billion principal of (i) EUR term loan in the amount of €400 million due FY23 and FY24, (ii) $500 million 4.25% Senior notes due FY25, (iii) £250 million 2.75% Senior notes due FY25, (iv) $467 million 4.125% Senior notes due FY26, (v) $500 million 4.75% Senior notes due FY28, and (vi) $234 million Senior notes due FY30. The applicable make whole premium for these redemptions was $300 million and accrued and unpaid interest was $40 million. Ken Sharp, Chief Financial Officer, DXC commented: “Our opportunistic debt refinancing of $2.5 billion of our high coupon debt further solidifies our financial foundation by extending our debt maturities, lowering our maturity towers and reducing our ongoing interest expen

Schlumberger Announces Third-Quarter 2021 Results Conference Call24.9.2021 16:00:00 CEST | Press release

Schlumberger Limited (NYSE:SLB) will hold a conference call on October 22, 2021 to discuss the results for the third quarter ending September 30, 2021. The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 8858313. A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until November 22, 2021, and can be accessed by dialing +1 (866) 207-1041 within North America or +1 (402

Tradeweb Successfully Completes its First Southbound Bond Connect Transactions24.9.2021 14:07:00 CEST | Press release

Tradeweb Markets Inc. (Nasdaq: TW), a leading global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has completed its first Southbound Bond Connect transactions via the trading link between Tradeweb and China Foreign Exchange Trade System (CFETS). “Southbound Bond Connect is the latest evolutionary step for China’s financial market, providing domestic investors with more flexibility and choice when trading offshore bonds,” said Lee Olesky, CEO of Tradeweb Markets. “Together with CFETS, our goal is to better meet onshore investors’ demand for streamlined access to global investment. We will continue to focus on further enhancing the trading link by deploying new innovative trading functionality, just as we did with the Northbound leg of Bond Connect.” Southbound Bond Connect facilitates fixed income portfolio diversification for institutional investors in China. Tradeweb collaborates closely with CFETS to create a uniform trading ex

H.I.G. Capital Acquires Aspire Pharma24.9.2021 14:05:00 CEST | Press release

H.I.G. Capital, LLC (“H.I.G.”), a leading global alternative investment firm with $45 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired Aspire Pharma Limited (“Aspire” or the “Company”), a leading UK provider of niche generic and branded specialty pharmaceuticals, alongside its founder Graham Fraser-Pye. The financial terms of the transaction have not been disclosed. Aspire licenses and develops niche generic and specialty pharmaceutical products that offer innovative formulations, value for money for payors, and reliable supply arrangements in markets that are often underserved. The business holds leadership positions in urology, ophthalmology, CNS and dermatology, with a highly diversified portfolio of more than 250 products across multiple categories, including branded specialty products and unbranded niche generics. H.I.G., together with the management team, aims to continue Aspire’s strong track record of organic growth and

Swappable Announces Partnership with Esports T1's Dota 2 Team24.9.2021 13:34:00 CEST | Press release

Swappable, an NFT (Non-Fungible Token) interface for high-profile and exclusive digital collectibles, has announced its partnership with T1's Dota 2 team, the popular esports team for the upcoming International 10 - Dota 2 World Championship in Bucharest, Romania. T1 is not just an esports team but a pop culture phenomenon with millions of fans worldwide. The team embodies a blend of lifestyle, creativity and attitude, fresh from the source of Seoul & LA. As part of the collaboration, T1 will auction their first-ever NFTs (digital collectibles) on Swappable for T1’s Genesis Collection. With the first auction starting Friday September 24th, T1 will release a series of NFTs each possessing utility features such as special access to T1's Dota 2 team players and more. Visit Swappable for more information. “We are excited to partner with a leading organization in the esports industry. It is also a chance for T1 fans to pick the very first digital collectibles ever created by this legendary

SAB Biotherapeutics Announces SAB-185 Receives Positive DSMB Review and Advances to Phase 3 in NIH-Sponsored ACTIV-2 Trial for Treatment of COVID-1924.9.2021 13:00:00 CEST | Press release

SAB Biotherapeutics (SAB), a clinical-stage biopharmaceutical company with a novel immunotherapy platform that produces specifically targeted, high-potency, fully-human polyclonal antibodies without the need for human donors, today announced that an independent Data Safety Monitoring Board (DSMB) has completed its prespecified interim analysis data review of the safety and efficacy of SAB-185 in the Phase 2 portion of the ACTIV-2 trial and has recommended advancement to Phase 3. SAB-185 is a fully-human, specifically-targeted, broadly-neutralizing polyclonal antibody therapeutic candidate for the treatment of non-hospitalized patients with mild to moderate COVID-19. It is being assessed in the ACTIV-2 trial funded and conducted by the National Institute of Allergy and Infectious Diseases (NIAID), part of the US National Institutes of Health (NIH) in collaboration with the AIDS Clinical Trials Group. SAB-185 is advancing to the Phase 3 trial based on meeting pre-defined graduation crite

NTHU Researchers Develop Ultrasonic Vortex Thrombolytic Device24.9.2021 11:00:00 CEST | Press release

As COVID-19 vaccination has raised the issue of thrombosis, Dr. Chih-Kuang Yeh, Distinguished Professor of the Department of Biomedical Engineering and Environmental Sciences, has led a research team to developed the world's first ultrasonic vortex thrombolytic device and to treat thrombosis quickly and safely. The research has been published in Proceedings of the National Academy of Sciences (PNAS) in 2021. Moreover, U.S. and EU patents are granted, with more applications on the way. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210924005015/en/ (Photo: National Tsing Hua University) The device is developed to solve two common thrombosis called pulmonary embolism (PE) and deep vein thrombosis (DVT), which have global prevalence of 10 million new cases annually. DVT is the main cause of PE, and PE can cause heart failure and has mortality rate up to 65%. Professor Yeh explained that the current treatment options includes dr

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom