IDC FutureScape: Worldwide Corporate Banking 2024 Predictions

IDC FutureScape Figure

• Figure: IDC FutureScape: Worldwide Corporate Banking 2024 Top 10 Predictions

Executive Summary

IDC FutureScape Predictions

• Summary of External Drivers

• Predictions: Impact on Technology Buyers

• Prediction 1: By 2025, 60% of corporate banks around the globe will introduce Confirmation of Payee to fight fraud and provide corporates with secure instant payments for their B2B and B2C services.

• Associated Drivers

• IT Impact

• Guidance

• Prediction 2: By 2025, 50% of SMEs will use alternative supply chain financing from non-bank lenders that will offer AI-based solutions to provide faster and more convenient funding access.

• Associated Drivers

• IT Impact

• Guidance

• Prediction 3: By 2026, 15% of cross-border payments will settle in real time.

• Associated Drivers

• IT Impact

• Guidance

• Prediction 4: By 2026, 50% of the corporate lenders would include ESG as a part of their loan acceptance criteria.

• Associated Drivers

• IT Impact

• Guidance

• Prediction 5: By 2026, over 50% of G2000 will adopt financial applications with dedicated Generative AI functionality to support financial reporting activities.

• Associated Drivers

• IT Impact

• Guidance

• Prediction 6: By 2026, 50% of financial institutions will rely on blockchain/distributed ledger technology (DLT) to verify account and identify veracity, in regard to AML and/or QIB, Accredited Investor, etc.

• Associated Drivers

• IT Impact

• Guidance

• Prediction 7: By 2027, three-quarters of commercial bond issuance will be accomplished using intelligent pricing features on digital market access platforms.

• Associated Drivers

• IT Impact

• Guidance

• Prediction 8: Due to advances in scenario modeling, forecasting accuracy, data accessibility and anything as a service, 40% of corporate banks will offer forecasting-as-a-service solutions to their clients by 2027.

• Associated Drivers

• IT Impact

• Guidance

• Prediction 9: By 2028, 40% of corporate banks will adopt trade finance solutions enriched with counterparty risk evaluation and trade elements ESG scoring, improving trade transaction risk evaluation.

• Associated Drivers

• IT Impact

• Guidance

• Prediction 10: By 2029, wholesale CBDCs will modernize existing wholesale payment systems to boost automation, transparency, sustainability and cross-border transactions, particularly within/between Europe and Asia.

• Associated Drivers

• IT Impact

• Guidance

Advice for Technology Buyers

External Drivers: Detail

• AI Everywhere — Generative AI Takes the Spotlight

• The Drive to Automate — Maximizing Efficiency and New Opportunities

• Economic Uncertainty — IT Malaise and Market Volatility

• Geopolitical Turbulence — Sovereignty Under Emerging Fragmentation

• Global Supply Chain Resiliency — Push for Diversification

• Cybersecurity and Risk — Building Resilience Against Multiplying Threats

• The Digital Business Imperative — Competitiveness and Outcomes

• Everything as a Service Intensifies — Transforming Models to Drive Change

• Dynamic Work and Skills Requirements — New Work Mode Era

• Shifting Tech Regulatory Landscape — Navigating Risk and Opportunity

• Operationalization of ESG — Measuring and Implementing Sustainability

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