What will banks focus on in 2016?

June 10, 2016

We blinked, and we’re already halfway through 2016! Before any more time passes, let’s see what one senior vice president forecasted U.S. financial institutions will focus on this year. And, if you missed last year’s predictions, you can catch up on them here:

2015 Prediction #1
2015 Prediction #2
2015 Prediction #3

Prediction 1 – More products

With PxV revenue growth in most bank treasury management units remaining elusive and low, generally in single digit figures, banks with significant growth goals will work in 2016 to identify their next big product offering, similar to what the purchasing card has meant to revenue growth for the past few years. Many will employ professionals with both the skills to discern what those critical product extensions will be, and have the ability to either launch entirely new products or acquire promising technology from smaller firms to be the nucleus of the bank’s new offering.

This sounds easier than it is. FI’s have many competing priorities (which is great – lots of good ideas are far better than having no new good ideas). In addition, the FI’s are operating in an environment of intense risk management and compliance initiatives. Scoping out that spot on the horizon, where the next big thing is, and then being able to go and get it will grow in importance an intensity in 2016.

What do you think … is he spot on so far?

Stay tuned for the next two predictions….

Share:Share on FacebookGoogle+Share on LinkedInTweet about this on TwitterEmail to someone

DISCLAIMER: All content provided on the TransCentra blog is for informational purposes only. TransCentra makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. TransCentra will not be liable for any errors or omissions in this information nor for the availability of this information. The views expressed by the authors on this website do not necessarily reflect the views of TransCentra, this website, or those who link to this website. Comments on the TransCentra blog are the sole responsibility of their writers and the writers will take full responsibility for any proceedings that result from something written in a comment. TransCentra and its writers are not held liable for any content that is republished or used by others.

Billing & Payments

News

Combined Company to be listed on the NASDAQ Global Select Market NEW YORK, Feb. 21, 2017 (GLOBE NEWSWIRE) — SourceHOV, LLC (“SourceHOV”), Novitex Holdings, Inc. (“Novitex”) and Quinpario [...] READ MORE

4855 Peachtree Industrial Blvd. Suite 245 Norcross, GA 30092

P:(678) 728-2500

© 2019 TransCentra, Inc.