Revenues in both trade finance and cash management grew by 9% from $28.8 billion to $31.3 billion between year-end 2017 and 2018 for the top ten largest global transaction banks, according to research from Coalition.
The business intelligence provider tracked the performance of cash management and trade finance for the ten largest transaction banks globally – Bank of America Merrill Lynch, Barclays, BNP Paribas, Citibank, Deutsche Bank, HSBC, JPMorgan, Société Général, Standard Chartered and Wells Fargo.
Global transaction banks claim that investments in tech – including blockchain, application programming interfaces (APIs), artificial intelligence (AI) and process automation in various degrees – have transformed banks’ business models and are responsible for the strong revenue growth in 2018.
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