Worries revealed in transaction banking survey

BNY Mellon, a global leader in investment management and investment services, in conjunction with the Exporta group and its leading industry publications, has announced the preliminary results of a comprehensive survey entitled Attitudes to Global Transaction Banking.

Drawing on responses from banks, financial institutions, corporations and government/multilateral bodies, it addresses topics such as regulation, funding, technology, cash management, and supply chain and trade finance.

Among key findings were the following:

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68 per cent of respondents believe that planned banking regulations will have a negative impact on their business
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nearly half (45 per cent) have seen a decrease in available funding in the last 12 months
• 41 per cent stated they were looking internally for funding as opposed to the banking market
• 32 per cent said that increased automation was the single factor that could best improve their treasury operations; for 30 per cent, it is enhanced access to information
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62 per cent believe the appetite for discounting/forfaiting has either “greatly” or “somewhat” increased.

David Cruikshank, CEO of treasury services at BNY Mellon, said, “A combination of changing market dynamics and regulatory forces presents the industry with a number of challenges. Turning these challenges into opportunities requires a deeper understanding of the likely business impact of regulatory change, alongside increased industry dialogue to formulate collaborative solutions. This survey facilitates the debate and sets the tone and direction for future discussions. It is only by listening to our clients, and engaging in dialogue with the industry as a whole, that we can help drive the industry forward.”