Later this Month!
FImetrix will release the designees for its annual Distinguished Provider accolade in March. Keep an eye out for our special announcement!
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Our absolute guarantee of anonymity.
The cornerstone of our surveys is our guarantee of anonymity to the people and institutions that participate. FImetrix abides by the ESOMAR professional code of ethics which prohibits the release of respondent names without prior authorization. Consequently, interviews are strictly confidential and we never reveal the identities of our respondents, or the institutions that they work for. 
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It's no surprise that regulations continue to be a hot topic in the industry today, and the effects of this increased scrutiny of regulation and compliance are now being reflected in relationship shifts among correspondent banks. In our latest Market Issues study, we found that a trend in the consolidation of bank-to-bank relationships can be largely attributed to compliance concerns. You can download your complimentary copy of this report in the article below. Another consequence of the ever-changing regulatory environment is a shift in what banks are looking for from their transaction banking relationships. As David Burnett discusses in a recent FX-MM article, banks are looking for a partner, and not simply a provider, for transaction services. We hope you find the information in this edition interesting and informative. As always, we welcome your thoughts and questions. If there is anything in this newsletter that you would like to discuss further, please feel free to contact us. Kind Regards, Your FImetrix Team |
Market Issues 2015:
A Perspective on the Industry
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About the Report
At the  beginning of each year, FImetrix conducts its annual Market Issues study, and produces a report that highlights trends and issues in the industry. First and foremost, the confidence level of banks with the current business environment and with their transactional services providers is examined. New topics to the study this year are KYC and Money Service Brokers. To read or download the report in its entirety, click here.
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Key Findings
- The confidence level of banks has decreased this year, though the shift away from a "positive" outlook among bank executives has been to a "neutral" stance - not a "negative" one.
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Last year, we reported on a movement toward consolidating relationships, which was driven by the larger banks in North America and Western Europe. This year, we are seeing the consolidation globally, which is largely attributed to those in the Middle East/North Africa and Latin America.
- Compliance concerns are driving a lot of this recalibration. This is most evident among the largest banks in North America and Western Europe, where the vast majority surveyed say they have exited relationships due to KYC or AML issues in the past year.
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Banks as Trusted Partners
FImetrix's David Burnett was recently interviewed by FX-MM magazine to discuss the importance of commitment to the relationship in correspondent banking, and the shifting role of the relationship to that of a partnership.
"This concept of partnership banking has been driven by the changing regulatory landscape which has increased the cost of capital and liquidity that banks have to deploy to their relationships. It has really changed the dynamics of the sector."
- David Burnett
So how can banks demonstrate this commitment? David presents a number of options in this article, including the importance of training on regulatory topics and the role of people in the relationship, in particular the Product Specialist. You can read more on this in the article by clicking here.
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Current and Upcoming Projects in 2015
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 In the coming year, FImetrix will interview senior executives at over 300 banks throughout the Middle East and North Africa, Sub-Saharan Africa, Western Europe, and Central and Eastern Europe about their provider network for cash and trade services. Field work has commenced in the Middle East and North Africa, and results are expected to be available in May 2015. FImetrix is beginning preparations to enter the field in both Western Europe and Sub-Saharan Africa in the spring, and anticipates being in the field in Central and Eastern Europe this fall. FImetrix is also presently conducting a global review on the competitive position of Nordic Currency providers, and plans to conduct a similar review of Canadian Dollar providers in the coming months. For a list of studies available, please refer to our website here. |
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