Abstract

With the prospect of sharp recovery in economic activities in 2021, corporate banking in India is expected to witness a significant evolution in the path to recovery as banks redesign their corporate customer experience (CX) on a digitalized scale by leveraging technology and innovations.

Compared with developed economies, India’s corporate banking sector is still in its nascent stage in terms of product and service offerings. However, this is being tested on twin counts of increasing digitalization of the Indian economy and globalization of Indian companies, which are bringing in rapid sophistication in operations and engagement.

This IDC FutureScape presents the top 10 predictions for the corporate banking industry in India.

"In India, corporate banking has remained undelivered during the last couple of years, but going forward, the scenario might change as the threat of the COVID-19 pandemic dwindles and the prospect of India playing a key role in the revival of global supply chain environments gain momentum," says Ganesh Vasudevan, research director, IDC Financial Insights Asia/Pacific.

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