Bank-Offered Treasury Workstations: The Time Is Now
Report Summary
Bank-Offered Treasury Workstations: The Time Is Now
Bank-offered treasury workstations provide banks an opportunity to redefine themselves as strategic partners in treasury management client relationships.
Boston, MA, October 16, 2008 – A new report from Aite Group, LLC examines the challenges bank treasury products and services groups face, and the opportunities treasury workstations provide to overcome such challenges. The report includes two case studies, and offers insights into how banks can determine whether a treasury workstation is right for them.
Though treasury workstations have firmly established a place in the corporate treasurer's world and have been offered by some of the largest banks over the last two decades, vendor-offered workstations continue to dominate the market. Due to recent advances in technology, however, and the evolving relationships between the corporate community and its banks, bank-offered treasury workstations are once again experiencing interest from corporations, their banks and the vendor community. In fact, Aite Group anticipates that treasury workstation solutions will be offered by one in four of the top 100 North American banks by 2012, up from only a handful in 2008. Though treasury workstations can dramatically impact the treasury management line of business, they aren't right for every bank. Because of this, each bank must decide for itself if and when the time is right for them.
"Corporate treasurers increasingly look to their banks as value-added service providers, and banks are in a prime position to meet this demand by offering treasury workstations," says Judson Murchie, analyst with Aite Group and author of this report. "However, success requires banks to shift their thinking to that of a solution provider rather than an item processor. Many banks are beginning to explore this shift, and those that are able to do so effectively are likely to be rewarded for their foresight."
This 22-page Impact Note contains one figure. Clients of Aite Group's Wholesale Banking service can download the report.