Virtual Accounts: The Power Behind Successful Integrated Treasury Strategies

Report Summary

Virtual Accounts: The Power Behind Successful Integrated Treasury Strategies

Open banking and real-time payments have caused interest in virtual account management to surge over the past few years.

Boston, October 14, 2020 – Banks’ existing VAM services continue to deliver improved cash management and operational efficiencies, and have evolved to become part of a broader cash management toolkit as well as an enabler of product and service innovation. At the same time, new market entrants have recognized the capabilities of VAM and are developing new business and corporate products and services capitalizing on them. The result will be an improvement in business and corporate banking, both in terms of the services that banks and other providers will be able to offer, and in the relationship between service provider and business customer.

This report examines how the use of virtual accounts has changed over time and how the use of open banking expands the capabilities of VAM. It looks at the range of use cases for corporations and specific industries, noting the benefits, costs, and challenges involved for potential implementations by businesses of all sizes, and discusses potential future developments.

This complimentary 12-page report is available to both Aite Group clients and nonclients.

This report mentions Bank of Baroda, Ford Europe, Hitachi Vantara, Intuit QuickBooks, Koch Industries, Kyriba, Microsoft, Molex, Plaid, Sage, SAS, and Xero.

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