WITH THE VALUE OF BUSINESS-TO-BUSINESS (B2B) PAYMENTS EXPECTED TO RISE SUBSTANTIALLY OVER THE NEXT FEW YEARS, RAMPING UP COMMERCIAL PAYMENTS COULD PROVIDE A SUBSTANTIAL REVENUE SOURCE FOR COMMUNITY BANKS. • Enhanced security: Fraud prevention is one of the biggest problems and a top area of concern for business customers. • Cash management services: Other areas identified by Accenture as particular pain points for businesses include documentary trade finance, structured trade finance and liquidity management. In particular, cross-border payments, B2B transfers and online merchant acceptance are areas that businesses cite as being some of their biggest challenges. • Accounting help: Some of the top value-added services business customers are seeking in commercial payments include accounting system integration and tools such as automated invoicing and biometric payments. • Payment progress: Accenture has identified merchant acceptance as the fastest-growing area of commercial payments over the next five years, though only 26% of banks have made this area an investment priority. • Controlled costs: While business customers desire valueadded functions and capabilities, cost is a major factor in determining which organizations they choose for commercial payment services, and banks should keep this in mind when setting pricing. Given the growth projections of B2B payments over the next few years, community banks would be well-served by changing the way they have historically looked at commercial payments and taking steps to make their own offerings more appealing. Since many businesses feel they need to use multiple providers to meet all their payment needs, there is a major opportunity for organizations that can bolster their offerings to include more of the services business customers want. To continue this discussion or for more information, please contact Matt Helsing at mhelsing@pcbb.com or visit www.pcbb.com. Dedicated to serving the needs of community banks, PCBB’s comprehensive and robust set of solutions includes cash management services such as Settlement and Liquidity for the FedNow Service, international services, lending solutions and risk management advisory services. 24 | INDEPENDENT REPORT
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