The February 2023 Aite-Novarica Group report highlights that cash management is a vital yet competitive business, with banks enhancing capabilities to retain and attract customers while facing fintech competition. A major gap exists between banks’ perceptions of their digital functionality and corporate treasurers’ satisfaction, and 44% of banks admit to falling short in user experience. With many corporations already using fintech for cash management, top 2023 priorities for banks include building APIs, integrating cash management with onboarding, enhancing data exchange, enabling real-time payments, refreshing interfaces, developing fintech ecosystems, and improving client service tools.

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