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Banks Missing Crucial Opportunity to Offer Multi-Channel Mobile Access to Treasurers, According to New Treasury Strategies Study

October 15, 2012

  • 80 percent of treasurers consider multi-channel access important

  • 53 percent say it is a key factor in selecting a new banking relationship

  • 47 percent of banks are currently offering consistent multi- channel access

Fundtech, a market leader in global transaction banking solutions, today announced the findings of a sponsored study from Treasury Strategies that explores the growing demand for integrated, multi-channel (desktop, tablet and smartphone) banking services among corporate treasurers. Treasury Strategies, an independent treasury management consulting firm, surveyed over 200 companies of various sizes across six continents and found overwhelming evidence that Corporates are placing greater value than ever before on consistent multi-channel access to information and services from their banks. Almost 80% of respondents felt it was important that their bank offer multi-channel access, and over half said it would be a key decision factor when selecting a new bank relationship.

Growing importance of consistent multi-channel access The rapid growth in business use of tablets and smartphones is changing the way companies of all sizes interact with their banks. The research found that companies will make a massive leap over the next 12-18 months from single-channel to multi-channel use and that treasury professionals expect their banks to offer a consistent experience across all channels:

  • 43% of those surveyed are currently using more than one channel to access their treasury information and services. Over the next 12-18 months 60% expect to use multiple channels, an increase of nearly 50%;

  • Over the next 12-18 months the number of treasurers using only a single channel (presumably desktop) to access bank information and services will decline by more than 50%;

  • 78% say that accessing their treasury information and transaction services in a consistent way across all channels is either extremely or very important;

  • Less than 8% consider multi-channel access not important at all

According to Mike Gallanis, Treasury Strategies’ head of Corporate Consulting Practice: 'We are especially surprised with the number of Corporates who indicate that the offering of a multi-channel solution would be a factor in choosing a new banking partner. Banks would be well advised to develop and deploy a multi-channel solution in order to meet growing demand from Corporates.”

Commenting on the research findings, George Ravich, Fundtech Chief Marketing Officer, said: “The research clearly indicate that treasury professionals are demanding consistent, standardized multi-channel access to their banking information and services. Banks must act now to deliver this new generation of convenience and efficiency to their corporate clients or risk losing them to competitors. Fundtech currently offers a consistent multi-channel cash management solution that is helping its bank customers to address this market need and be more competitive. Our introduction of CASHplus Mobile Corporate Banking for Tablets addresses this need in the marketplace.”

To download a copy of the full research document visit: http://www.fundtech.com/library/white-papers/

About Fundtech

Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, our clients benefit from lower operating costs and an enhanced end-user experience through our integrated and feature-rich solutions. Our major product lines are: global and regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products. Fundtech offers its software through a traditional software license and a Software-as-a-Service (SaaS) contract. We operate Fundtech Connect, one of the world’s largest services bureaus that addresses the unique needs of the financial services industry. Thousands of financial institutions and companies worldwide rely on Fundtech’s innovation to improve operational efficiency, increase revenues, and provide greater competitiveness through business-to-business services. Founded in 1993, Fundtech was acquired in 2011 by GTCR, a Chicago-based private equity firm. For more information please visit www.fundtech.com

About Treasury Strategies

Treasury Strategies, Inc. is the leading Treasury consulting firm working with corporations and financial services providers. Our experience and thought leadership in treasury management, working capital management, liquidity and payments, combined with our comprehensive view of the market, rewards you with a unique perspective, unparalleled insights and actionable solutions. For more information, please visit www.TreasuryStrategies.com.

Press Contacts:

(UK) Chanda Gathani - Metia Ltd. / +44 (0) 20 3100 3605 / chanda.gathani@metia.com

(USA) Binna Kim – Cognito / +1 646 395 6304 / binna.kim@cognitomedia.com

George Ravich – Fundtech / +1 201 215 6530 / george.ravich@fundtech.com

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