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European Cash Management Trends: The Move Toward Standardization

European Cash Management Trends: The Move Toward Standardization

European cash management banks are shifting away from traditional practices as they face new challenges and an increasingly global customer base.

Boston, MA, February 23, 2006 – In a new report, European Cash Management Trends: The Move Toward Standardization, Aite Group examines new challenges and trends shaping the European cash management industry. It also explores the growing importance of technology as both a driver and enabler of greater standardization of products and services in today's more global business environment.

The global cash management industry is challenged by consolidation, intense competition, and business customers who are not only more demanding, but also increasingly global. While some trends vary by country and region, most trends are now being felt on a global scale, with geographic differences becoming less obvious. A greater number of businesses are operating and banking beyond their traditional geographic borders, and corporate customers, as a result, are increasingly demanding greater standardization of bank products, pricing and payment systems.

"Meeting these new demands is especially challenging in traditionally heterogeneous banking environments, like the one found in Europe," notes Christine Barry, a research director with Aite Group and author of the report. "The introduction of the euro and the European Union has brought not only new opportunities to this region, but also several challenges and a need to move beyond traditional banking practices."

This is a 12-page Impact Note. Clients of Aite Group's Wholesale Banking service can download the report.