Each year, CGI meets face-to-face with business and IT leaders to hear their views on the trends affecting their organizations. In 2018, we conducted 27 in-person interviews with corporate and transaction banking executives to learn more about their top trends and priorities.

Regulation and security remain top industry trend

Increasing regulation and security challenges remain the top cited trend this year in corporate and transaction banking, followed by technology advances and the adoption of new technology, which are driving fundamental change across the banking value chain. Standardization and the move to around-the-clock, real-time payments is the third trend, which, in turn, drives the need for real-time, low-cost and resilient operational platforms across the whole sub-sector—this year’s fourth trend.

Majority of banks in digital strategy build or launch mode

Nearly half the corporate and transaction executives we interviewed (48%) have a digital strategy, while 19% have begun to develop such a strategy. However, of those with a strategy in place, only 12% have an operational digital strategy that includes partners, despite the move to unbundle the value chain and open up to third parties. Likewise, only 12% have an enterprise strategy in operation for the internal organization.

Cybersecurity is top challenge to digital transformation

Cybersecurity has shot up to become the top challenge for implementing a digital transformation strategy, followed closely by regulatory compliance.

Benchmarking internal IT and more

This year, business and IT executives interviewed ranked their satisfaction with their own IT organizations based on 10 key attributes of a world-class IT organization. As a whole, IT satisfaction among corporate and transaction banking executives ranks high in comparison to other industries and, indeed, other banking sub-sectors. Satisfaction with security programs is particularly high.

CGI can provide clients with a discussion of all available benchmarking, including each client’s positioning, on topics such as digital maturity, IT budgets, IT satisfaction, innovation investments and more.

Discover the insight

Download the 2018 CGI Client Global Insights corporate and transaction banking summary infographic for additional trend information. We also invite you to request a copy of our full report and to arrange a personal discussion with a CGI expert for further analysis and insights.

 

Also see the 2017 CGI Client Global Insights industry summaries.