New Tools Offer Exclusive Look into Financial Institutions' Commercial Digital Platforms
FBX, a division of Informa Financial Intelligence, has enhanced its services for financial institutions by offering access to digital treasury journeys. This new commercial banking subscription allows banks to analyze competitors' digital platforms through strategic insights. Key features include access to benchmarking metrics across four areas: Access, Administration, Management, and Integration. The platform aims to help banks understand their competitors' offerings and improve their own digital strategies, combating challenges posed by aging systems and increasing competition.
- Launch of new commercial banking subscription to enhance digital insights for banks.
- Access to benchmarking metrics that help banks analyze key digital treasury areas.
- Ongoing market trend analyses and recommendations for platform evolution.
- Tools to help banks strategize and improve offerings based on competitor insights.
- Commercial banks have historically operated 'in the dark' due to lack of competitive insights.
- Aging legacy systems may hinder banks' ability to adapt to digital challenges.
NEW YORK, April 13, 2021 /PRNewswire/ -- FBX, an Informa Financial Intelligence company, has expanded its services to offer financial institutions unprecedented access to real digital treasury journeys with behind-the-login views and strategic analysis of competitors' commercial digital platforms.
For more information on the new commercial banking subscription, visit https://bit.ly/dbh-commercial.
The Financial Benchmarking & Omnichannel Experience (FBX) division now allows banks to view four key areas of digital treasury experiences, including:
- Access
- Administration
- Management
- Integration
Within those customer journeys, part of the Digital Banking Hub, banks can explore hundreds of benchmarking metrics to understand the digital evolution of payment, self-servicing, cash forecasting and account services—all through screenshots of actual offerings.
As part of the new Commercial Banking Digital Tracker, housed on the hub, banks also receive ongoing FBX analysis on market trends and best-in-class journey features, along with platform evolution recommendations, all intended to accelerate progress toward goals and align digital strategy with the digital roadmap.
Providers gain an account-level view of client permissions, new analytics and remote features, including the digital KYC onboarding capabilities many banks have scrambled to adopt in the wake of the pandemic. They can also learn about fintech partnerships forming in the space.
With the specialized analysis on leading strategies, which includes historical perspectives, current events coverage and market forecasting, banks gain an exclusive window into their industry.
Such access has traditionally been the domain of end-users, leaving many commercial banking providers to strategize "in the dark." The lack of any real competitive insight, along with aging legacy systems, has stunted the growth of these banks, who are trying to meet the demands of a rapidly changing digital landscape.
Now commercial banks can see behind-the-login to understand what the customers of their peers experience in terms of capabilities, work flows and journeys. They can better understand how to make their offerings more relevant, expand their customer base, and increase their market share.
Quotes:
Informa Financial Intelligence President Craig Woodward said: "Aging legacy systems and a lack of access to data has helped stymie the growth of commercial banks. We can help reverse that trend—identifying new strategies and accelerating product development to fortify banks against mounting competition."
Jennifer Sypal, Market Analyst and Client Success, Commercial Services, said: "Commercial banks have had to essentially build blueprints in the dark. Now, they can strategize based on a granular view of their peers' digital evolution: How do they approach cash forecasting? What is their product development focus? What partnerships are they forming? These tools position them to develop quickly and make bold market moves."
About Financial Benchmarking & Omnichannel Experience (FBX)
Financial Benchmarking & Omnichannel Experience (FBX), a subsidiary of Informa plc (LSE: INF), provides bank peer benchmarking services, banking workflow solutions and omnichannel banking experience research services to retail and commercial banks worldwide. FBX, part of Informa Financial Intelligence, brings together competitive performance data and customer journey research to provide a comprehensive assessment of a competitive position. Through a synchronized view, FBX provides targeted information to identify key levers for improving relative performance. For additional information, please visit https://financialintelligence.informa.com/fbx.
About Informa Financial Intelligence
Financial Intelligence, part of the Informa Intelligence Division of Informa plc, is a leading provider of products and services helping financial institutions around the world cut through the noise and take decisive action. Informa Financial Intelligence's solutions provide unparalleled insight into market opportunity, competitive performance and customer segment behavioral patterns and performance through specialized industry research, intelligence, and insight. For more information, please visit https://financialintelligence.informa.com.
MEDIA CONTACT:
Zach Allegretti, JConnelly
973-850-7341
zallegrettiII@jconnelly.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/new-tools-offer-exclusive-look-into-financial-institutions-commercial-digital-platforms-301265861.html
SOURCE Informa Financial Intelligence
FAQ
What is the new service offered by FBX for financial institutions?
What areas does the FBX digital treasury service cover?
How does FBX help banks improve their digital strategies?
When was the new FBX service announced?
What challenges do commercial banks face according to the FBX announcement?
