Time for corporate bankers to shift from transactions to trust
Banks need to put clients’ needs first in an environment where overall satisfaction with commercial banks is slipping globally
IN AN increasingly complex and rapidly evolving business environment, corporates are facing new pressures, leading them to put new and increasing demands on banks. Businesses want to foster strategic partnerships, moving away from the traditional transactional relationship in order to stay ahead of economic and societal change.
This push is being driven by mega trends including digitisation, supply chain disruptions and sustainability, not to mention an increasingly competitive business environment within a shifting geopolitical landscape. This requires the bankers of today to be like advisers solving digitalisation, financial supply chain and decarbonisation challenges.
Research has shown that overall satisfaction with commercial banks is slipping globally. Only 9 per cent of the respondents to The Global Treasurer’s 2023 CGI Transaction Banking Survey said they were “very satisfied” with the service they received from their banking partners, down from 16 per cent in the same survey in 2022.
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