Capgemini, in a new collaboration with BNP Paribas brings the World Payments Report 2016 to banks and corporate customers. It is the leading source for global and regional non-cash payments trends and the key regulatory and industry initiatives (KRIIs) that govern them. The report also explores digital innovation from Banks and FinTechs and how it’s applied in today’s payments arena.
As digital innovation and FinTechs capture the mindshare of today’s industry executives, traditional payments service providers are now challenged to deliver an improved experience to corporate customers as well, while complying with evolving regulatory agendas across the globe.
The report explores how digital innovation, in which leading banks are engaged often in partnership with FinTechs, is infusing the corporate world with new opportunities. Corporations now expect more digital offerings from their transaction banks, forcing banks to adopt a “design for digital” approach. Some leading institutions have already recognized that a digital mindset is essential to be able to offer value-added solutions to corporates and to protect and increase market share.
The report also analyzes how the constantly evolving regulatory landscape is creating complexity for banks while ensuring compliance and why it is important for them to develop a holistic compliance vision.
Read on for select report highlights and explore it in detail at www.worldpaymentsreport.com.
- The volume of payment transactions is growing more rapidly, with annual global growth projected to top 10% for the first time, mainly driven by strong economic growth in key countries, improved security measures like EMV and biometrics, and government initiatives to encourage electronic payments in developing markets.
- KRIIs and holistic compliance: an increasingly complex regulatory environment is making it even more difficult for banks to adopt a holistic, collaborative approach to both existing regulations and adhere to new regulatory initiatives.
- Amidst multiple internal and external challenges, including those from FinTech players, banks face increasing demand for more digitization from corporate treasurers. This will require banks to accelerate investments, adopt a collaborative mindset with FinTechs, and foster a more open approach to inter-bank collaboration as witnessed for SWIFT’s GPII.
The World Payments Report 2016 is available for download at www.worldpaymentsreport.com.
World Payments Report interactive website
Explore the full landscape of payments with the World Payments Report website. There you can find:
- Interactive graphs to explore non-cash payment volumes or mix by region and transactions by inhabitant for over 25 countries
- A focus on key regulatory initiatives, holistic compliance, and future trends
- More on the need to improve digital maturity and inter-bank and FinTech partnerships taking a transformational approach to building new services and to simplify payments
For the complete story on global payments
- Explore interactive graphs with payments volumes and mix at www.worldpaymentsreport.com
- Visit BNP Paribas for information on global payment offerings
- Learn more about Capgemini's payments solutions
Source: World Payments Report 2016, Capgemini and BNP Paribas