Successful corporate banking:
keep customers close
Despite the rebound from the 2008 financial crisis, corporations are re-examining the strength and stability of their banking partners. Lingering worries about market volatility, political and economic uncertainties and recent regulatory reforms are spurring many organizations to manage their banking relationships more rigorously.
To learn more about how major corporations are evaluating bank performance and relationships, we interviewed senior financial executives from 20 global corporations for our 2013 Corporate Banking Survey. In summary, we found that traditional principles of business relationships—mutual commitment, dedication and trust—are more important than ever.
More specifically, a majority gave their current core banks high marks on overall performance. However, banks fell short of expectations on 11 of 16 key performance criteria, including quality and delivery, pricing, technology, innovation and transparency.
“Banks need to understand the priorities and the business scenarios that their clients are trying to solve. Try to look at it from our point of view.”
The bottom line for corporate financial executives is clear. They want banking partners to stay close, understand their needs and consistently deliver quality services. These less tangible aspects of bank relationship management are key considerations when corporate clients select and retain their core banking partners.