US Cash Management Vendors Enhance Functionality, According to Aite
A new report from Aite Group analyses key trends in the US cash management technology industry and primary areas of focus for vendor enhancements. It evaluates leading US solutions geared toward large financial institutions that service large and middle-market companies, and compares them based on marketplace successes, key strengths and differentiators, usability, and recent enhancements.
As a result of the financial crisis, financial institutions have been forced to re-evaluate how they service their customers. In the cash management industry, large and middle-market companies require faster and easier access to real-time account data and cash positions than ever before. In addition, corporate treasurers seek more control, efficiency, security, and convenience within the online channel. Vendors have adapted to provide financial institutions with new functionalities centred mainly on user interface/client dashboard, increased payment flexibility, corporate mobile banking solutions, enhanced cash position reports, and improved security.
“Cash management technologies have evolved over the past few years, and vendors have taken a huge leap forward with their latest releases,” said Christine Barry, research director with Aite Group and author of this report. “Banks that establish strong relationships with their technology partners and take advantage of their new capabilities will enjoy a competitive advantage in a marketplace rife with outdated solutions.”
The report profiles cash management technologies offered by ACI Worldwide, Bottomline Technologies, FIS, Fiserv, Fundtech, Intuit Financial Services, and S1, and awards vendors for being best-in-class in a number of categories.