IDC FutureScape: Worldwide Corporate Banking 2023 Predictions

IDC FutureScape: Worldwide Corporate Banking 2023 Predictions

This IDC Financial Insights FutureScape presents the top 10 predictions for the corporate banking industry."Caught between a rock and a hard place, the corporate banking industry is facing massive pressure to ensure liquidity and stabilize financial supply chains, while dealing with the deteriorating credit quality in the light of an emerging recession and rising interest rates," said Tom Zink, senior research director, IDC Financial Insights. "At the same time, the ongoing transformative pressure to support the emerging ecosystem is forcing banks to move quickly or face disintermediation by other ecosystem participants."

Please Note: Extended description available upon request.


IDC FutureScape Figure
Executive Summary
IDC FutureScape Predictions
Summary of External Drivers
Predictions: Impact on Technology Buyers
Prediction 1: By 2024, 30% of corporate banks will offer reconciliation as a service, built upon request to pay, e-invoicing, and real-time payments, leading to new revenue streams in payments reconciliation
Associated Drivers
IT Impact
Guidance
Prediction 2: By 2025, 40% of corporate banks will deploy privacy-enhancing technologies to enable new trusted multiparty computation scenarios across AI/ML modeling, business analytics, and the cloud
Associated Drivers
IT Impact
Guidance
Prediction 3: By 2025, 50% of corporate banks will adopt enterprise risk management tools with predictive analytics to mitigate uncertainty and improve risk-based strategic sourcing, resilience, and trade management
Associated Drivers
IT Impact
Guidance
Prediction 4: By 2025, 40% of global corporate banking revenue will be accrued through collaborative engagements such as embedded finance, banking as a service, and platform integration
Associated Drivers
IT Impact
Guidance
Prediction 5: By 2026, worldwide B2B BNPL will reach $500 billion, with fintechs and BNPL platforms competing with legacy financial institutions to provide SMBs with working capital loans
Associated Drivers
IT Impact
Guidance
Prediction 6: By 2026, 15% of the global foreign exchange derivatives market will originate from embedded hedging services (hedging-as-a-service)
Associated Drivers
IT Impact
Guidance
Prediction 7: By 2027, corporations will reduce B2B payment costs by 5% through the integration of real-time networks
Associated Drivers
IT Impact
Guidance
Prediction 8: By 2027, 50% of new securities issued globally will be issued as NFTs (or blockchain-based tokens) as a technology channel for private and public equities, debt, and derivatives
Associated Drivers
IT Impact
Guidance
Prediction 9: By 2028, 50% of corporates will practice enterprise liquidity management, requiring banks to deliver API-based, real-time data services and transactional services to centralize treasury operations
Associated Drivers
IT Impact
Guidance
Prediction 10: By 2028, digital trade finance transactions will make up 30% of trade finance if trade ecosystems become interoperable, standardized, technology-agnostic, and easily accessible to customers
Associated Drivers
IT Impact
Guidance
Advice for Technology Buyers
External Drivers: Detail
Storms of Disruption — Accelerating, Interconnected Uncertainty
Global Supply Shock — Refocusing on Multisource and Resilience
Digital Business — Stepping Stone to the Future Enterprise
Meaningful Intelligence — Differentiated Decision Power
Ecosystem-Based Innovation — Driving Enterprise Value
Everything as a Service — Thriving Through the Change
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