More NewsCorporates Admit: ‘We’d Pay More for Improved Payments Services”

Corporates Admit: 'We'd Pay More for Improved Payments Services”

Six in ten corporates would pay additional fees to banks for improved, more detailed information about their payments, according to a poll by gtnews on behalf of LogicaCMG. Furthermore, a third of respondents claimed they would consider switching banks for such information. The poll of both banks and their corporate customers contradicts the widespread industry perception that corporate customers are unwilling to pay for new or improved banking services – a theory that has held back new investment in the payments industry, according to LogicaCMG. The poll also highlights that while banks have been criticised in the UK media over recent profit announcements, 85 per cent of banks felt they offered value for money for their payment services and half of their corporate customers agreed. Commenting on the findings, Terry Quigley, financial messaging director, global financial services at LogicaCMG, said: ‘While half of banks’ corporate customers believe that they receive value for money, they would pay more for more detailed information. There is obviously unfulfilled demand from corporate customers, which would justify new investment. This would allow banks and corporate customers to move their payments business forward, rather than simply reacting to changes with little or no customer benefit such as new regulatory mandates, market infrastructure changes or technology obsolescence.’

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha