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- Over 70% of commercial banks are investing in digital transformation to improve customer experience.
- The survey found that 60% of respondents believe real-time payments will be a key driver of revenue growth.
- Finextra and Visa Direct partnered to release the report, highlighting the global state of commercial banking.
More than 70% of commercial banks are now investing heavily in digital transformation. That’s the headline from Finextra’s new survey, released in partnership with Visa Direct. For a sector historically cautious about change, the shift is dramatic—and it signals where the industry is heading.
Real-time payments are the other big story. Sixty percent of respondents see them as a key revenue driver. Banks are responding: 40% already use real-time payment systems to manage cash flow better.
Digital Transformation
Cloud computing, AI, and blockchain dominate bank tech spending right now. The push is clear: improve the customer experience, cut costs, trim operational fat. Half of respondents say cloud-based services are already helping with scalability.
Banks that ignore this wave risk irrelevance. For operators across the MENA region, the message is stark—demand for digital banking is about to accelerate sharply, and the window to catch up is narrowing.
Real-Time Payments
Real-time payments aren’t just a feature anymore. They’re becoming a revenue engine. Sixty percent of survey respondents expect them to drive growth, and adoption is climbing fast with 40% already implementing systems.
This creates a ripple effect. Faster payments mean better cash flow for businesses. That opens doors for fintech companies and payment providers to compete directly with traditional banks. Innovation accelerates when the stakes rise.
Global Implications
The commercial banking landscape is fracturing into two groups: those investing in digital and real-time rails, and those falling behind. The gap will only widen.
Partnerships matter here. When Finextra and Visa Direct collaborate, they’re not just publishing reports—they’re accelerating industry change. For MENA investors and operators, these partnerships offer a blueprint for growth and a chance to leapfrog legacy competitors.
The Shift Ahead
Digital transformation and real-time payments are rewriting the commercial banking rulebook. Banks that move fast will capture market share. Those that hesitate will struggle.
For anyone operating in MENA, this report deserves close attention. It maps both the opportunity and the urgency.
Finextra’s survey report is a wake-up call for commercial banks to invest in digital transformation and real-time payments. Investors and operators in the MENA region should take note of the growing demand for digital banking services and the opportunities for innovation and growth. As Visa Direct continues to drive payment innovation, we can expect to see significant changes in the commercial banking sector in the coming years.
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