Commercial payments investment priorities 2023

Embedded finance and cross-border payments were very much on the minds of banking executives looking to transform their commercial payments in the future. This is according to a survey held in the late summer of 2023, asking banks about what their top priorities were to help innovate their commercial payment solutions. Personalization and modernization were mentioned the most, significantly outperforming the application of generative AI in customer support channels. Interestingly, cross-border payments were also a focus area for central banks. Among some of the most promising options for central banks to help improve cross-border payments ranked the interlinking of real-time payment systems, as well as the development of CBDCs.

Main investment priorities of banks worldwide to help transform their commercial payments division between 2023 and 2026

Characteristic	Share of respondents
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-

Download

Source

Show detailed source information?

Already a member?

Source

Use Ask Statista Research Service

Release date

September 2023

More information

Region

Worldwide, Australia, Brazil, Canada, China, France, Germany, India, Italy, Mexico, Singapore, Spain, United Kingdom, United States

Survey time period

July and August 2023

Number of respondents

211 and 223

Special properties

Bank and payment provider executives, plus executives in companies that subscribe to commercial payments services. See the “Details” tab for more information.

Method of interview

Face-to-face interview, online survey

Supplementary notes

The question was phrased by the source as follows: Which of the following are your organization’s top three priorities to transform the commercial payments offering for the next 2-3 years?"

The numbers provided come from two separate C-suite surveys held over the summer of 2023. First, executives from banks and payment providers were asked about their markets and client expectations. Second, clients from such commercial payment services were interviewed.

The clients came from the following industries: Telecom, Insurance, Health and Public services, Travel and rail, Auto and Industrial, and Retail.

Both surveys were held in the following countries: Australia, Brazil, Canada, China, France, Germany, India, Italy, Mexico, Singapore, Spain, United Kingdom, United States.

Citation formats