Credit Crunch Seen as Opportunity for Transaction Banking Growth
Half of the 80 mid-size US banking executives surveyed say that their bank is investing more in transaction banking than other technology areas at this time, while 79% believe that the banking crisis has created growth opportunities for mid-sized institutions.
Fundtech conducted the survey at its user conference in May during a panel discussion that included five senior bankers from: AgriBank, First Bank, 1st Source Bank, Frost Bank and Umpqua Bank.
The survey also found that:
The panellists agreed that the first step in building a strategy around service is investing in product functionality that outpaces their competitors. John Baker, senior vice president of product strategies and treasury management at Umpqua Bank, stressed the importance of being able to offer the latest technology. “Umpqua, which recently won a large loan customer due to its investment in a breadth of treasury management services, is a good example of the ability of a mid-sized bank to compete with larger players by investing in the right technologies,” Baker said.