Business Strategy: Cloud Computing and Its Impact on Treasury and Transaction Banking

This IDC Financial Insights report focuses on the evolution in corporate treasury and the technology environment that banks are selling into. Financial institutions are finding that corporate treasurers are deploying more technology and changing their expectations of the services that banks deliver. Cloud and software as a service have provided more affordable technology, and the financial crisis has increased the demand for more transparency, efficiency, and flexibility within corporate treasury groups. This is creating a new environment for banks to sell into. According to Jeanne Capachin, research vice president, Corporate Treasury and IT Spending Guides, "Banks must think of themselves as cloud providers and build complete business solutions rather than point solutions — providing 'business as a service' to their clients."