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Global Insight Reports

Cracking the Bank RFP Code

Cracking the Bank RFP Code - Voice of the customer insights exposing the opaque world of Bank Requests for Proposals (RFP)

East & Partners Global Insight report series explores key issues identified by corporate banking customers as part of the group’s long running core research programs including Transaction Banking, Credit, Trade Finance, Business FX, Equipment Finance, Merchant Payments and Customer Sentiment.

The latest report reveals valuable insight into the opaque world of Bank ‘Requests for Proposals’ (RFPs). This exclusive analysis follows the H2 2019 Onboarding Global Insights Report and provides a unique global analysis of clear ‘voice of the customer’ insights across key RFP triggers, average number of RFPs and their success rate, typical execution time, average bank number tendered and shortlisted, top selection factors, pain points, document format preference, expected turnaround time, average value, outsourcing appetite, role allocation, performance by bank, country scope, most recent RFP result and key special factor banks must improve.

The purpose of the report is to identify and guide East’s clients including banks, financial service providers, regulators and legislators on key areas of opportunity emerging in the global institutional banking market. Direct interviews were conducted with the Top 100 revenue ranked corporates in each of eight countries - 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.

CFOs and corporate treasurers from 747 out of a defined population of 800 institutional enterprises with annual turnover of US$725 million plus participated in the research without incentive, including an even split of multinational corporations (MNCs) and domestic enterprises.



About the report
RFP Reality Missing Expectations
The Corporate Experience Issuing RFPs
Global RFP Best Practice
Unlocking Customer Pain Points
Where is the RFP Value?
Secret for Success
Digitisation Must Boost RFP Efficiency
What Next for Bank RFPs?
Detailed Data Tables
     Bank RFP Triggers
     RFPs Undertaken – Last 10 Years
     Percentage of Successful RFPs
     Recent Tender Success Ratings
     Time Taken to Execute RFP Stages
     Banks Approached and Shortlisted
     Top RFP Bank Decision Influence Factors
     Bank RFP Process Pain Points
     Preferred RFP/Tender Documentation Format
     Acceptable Provider RFP Response Time
     Typical RFP Values
     RFP Outsourcing to External Providers
     Primary Role Responsible for RFP Process
     Overall Bank RFP Experience Ratings - Australia
     Overall Bank RFP Experience Ratings - Canada
     Overall Bank RFP Experience Ratings - China
     Overall Bank RFP Experience Ratings - Germany
     Overall Bank RFP Experience Ratings - Hong Kong
     Overall Bank RFP Experience Ratings - Singapore
     Overall Bank RFP Experience Ratings - United Kingdom
     Overall Bank RFP Experience Ratings - United States
     Scope of Most Recent RFP
     Result of Most Recent RFP
     Suggested RFP Process Improvements







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