COVID’s Shake Up of Relationship Banking - Unprecedented Customer Coverage Opportunities
East & Partners Global Insight reports explore key issues identified by institutional banking (IB) customers as part of the group’s long running core research programs covering Transaction Banking, Credit, Trade Finance, Business FX, Equipment Finance, Merchant Payments and Customer Sentiment.
The latest H1 2021 Global Insights analysis delves deeper into corporate and institutional banking (CIB) relationship manager (RM) characteristics since the onset of the COVID-19 crisis, frequency and quality of RM contact, relative bank performance in response to the crisis, customer churn, credit demand impacts, estimated recovery timeframes, digitisation impulse in response to COVID restrictions, ESG goals progress and overall, what customers really need from their bank to successfully plan their immediate and longer term strategic objectives.
Key decision makers are faced with overwhelming, competing challenges. The path ahead is uncertain as CFOs continue to comprehend the full scale and scope of the COVID-19 pandemic impact on long term operations.
The latest report provides timely insight into rapidly changing IB relationship management (RM) as a result of the COVID-19 crisis. This exclusive analysis follows the H2 2019 Onboarding and H1 2020 RFP editions, providing valuable ‘voice of the customer’ insights.
The purpose of the report is to identify and guide East & Partners clients including Banks, financial service providers, regulators and legislators of areas of opportunity within the global IB market.
Direct interviews were conducted with the Top 100 revenue ranked corporates in each of eight countries including Australia, China, Hong Kong, Singapore, Germany, the United Kingdom, Canada and the USA. All interviews were conducted on a direct basis with the individual responsible for the treasury and banking function within each enterprise.
Key decision makers including CFOs and corporate treasurers from 748 out of a defined population of 800 institutional enterprises with annual turnover of US$725 million or greater participated in the research without incentive, including an even weighting of multinational corporations (MNCs) and major domestic enterprises.
CONTENTSAbout the Report
Institutional RM Characteristics
Customer Preferences Changing
Relative Bank Performance
Calm in a Crisis
COVID as a Driver for Customer Churn
Behavioural Switching Intentions
Credit Demand Impact and Recovery
Forecast Institutional Banking Borrowing Appetite
Treasury Functionality in Highest Demand
Enterprise Progress Post-COVID
What do Customers Really Need?
What Next for IB Relationship Banking?
Keeping Pace with Evolving Customer Expectations
Detailed Data Analysis
Primary Bank COVID-19 Response Ratings
COVID-19 Pandemics’ Influence on Bank/Provider Choice
COVID-19 Pandemics’ Influence on Wallet Share
Most Desirable Benefit for COVID-19 Crisis Navigation
Most Important Newly Accessible Digital Functionality
Most Important Required but Inaccessible Digital Functionality
Most Important Relationship Manager Service Factor
Banking Relationships Switched – Post March 2020
Banking Relationships Planning to Switch – Next 12 Months
Best Banks for COVID-19 Advice – Australia Top 10
Best Banks for COVID-19 Advice – Canada Top 10
Best Banks for COVID-19 Advice – China Top 10
Best Banks for COVID-19 Advice – Germany Top 10
Best Banks for COVID-19 Advice – Hong Kong Top 10
Best Banks for COVID-19 Advice – Singapore Top 10
Best Banks for COVID-19 Advice – United Kingdom Top 10
Best Banks for COVID-19 Advice – United States Top 10
Best Banks for COVID-19 Advice – Global Top 10
Forecast Percentage Credit Demand – Next 6 Months
Impact of COVID-19 Pandemic on Firms ESG Goals
Delayed New Product Decisions Until Crisis Has Passed
Forecast Time Until Full Crisis Recovery
Frequency of Interaction with Relationship Manager
Opinion of Frequency of RM Interaction
RM Interaction Quality Rating
Planned Future Engagement with Primary RM – Next 6 Months
Extent of Impact of COVID-19 on Neobanks
Primary Bank Function Importance Ratings
Primary Bank COVID-19 Specialist Assistance Importance Ratings
Willingness to Pay for Bank COVID-19 Specialist Assistance