FURTHER READING
Only 13% of the more than 29,000 respondents to Euromoney’s cash management survey this year had used a non-banking financial provider for any cash-management service in the past 12 months, a finding that chimes with other research.
For example, the Association of Corporate Treasurers’ 2023 corporate debt and treasury report notes that alternative lenders have not firmly established themselves in the corporate lending space despite gaining traction among corporates looking for alternative providers for receivables, leasing and surety arrangements.
The report found that the percentage of total debt funding provided by non-banks had fallen from 16% in 2019 to just 4% by the start of this year.
According to Philippe Penichou, global head of sales, wholesale payments and cash management at Societe Generale, regulation is a big reason why banks retain...
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