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Despite the vast amount of customer data that banks sit on, the ability to use it to add value to corporate clients and generate revenue has proved elusive.
There is now a concerted effort to address this challenge. Banks are reconceptualising data as a “strategic asset”, and investment in initiatives to monetise payments data has doubled in the past year. But for these to be successful, it is crucial to understand where the concrete opportunities lie, how potential can be translated into action, and the considerations that should be taken into account.
Through interviews with 168 senior bank executives and 217 corporate treasurers and CFOs, a new report published by Celent in partnership with Icon Solutions and MongoDB delivers fresh insight to better understand respective strategies, pain points and challenges, and the specific services that will enable banks to monetise data.
Download our infographic here.