May 19, 2026 — Large European companies are less than impressed with the results of bank innovation in cash management—a perspective that must come as a disappointment to banks spending huge sums to modernize their platforms in cash management and other key client systems.

The large European companies participating in a recent study from Crisil Coalition Greenwich give their cash management banks low ratings for innovation. These ratings were never strong and took a nosedive during the COVID-19 crisis, when many companies felt their providers didn’t offer enough support during the lockdowns. Since then, ratings from the largest European corporates reduced by 4 points.

For banks, these low ratings must be frustrating, given the level of attention and resources they are putting into developing digital solutions for cash management. But there is a simple explanation for this apparent disconnect: From companies’ perspective, bank innovations are not improving products and services in the areas that are most important to corporate treasury departments—or at the very least, not improving them enough.

“Banks investing in digital upgrades to cash management platforms should heed one key rule: Corporate clients aren’t interested in stories about how much banks are spending or their latest exciting innovation; they only care about results.” says Dr. Tobias Miarka Global Head of Corporate Banking at Crisil Coalition Greenwich and coauthor of European cash management: Companies want more impactful bank innovation.

Making Life Easier for Corporate Treasury
What is it that companies want banks to achieve with their cash management solutions? In addition to low costs, companies participating in the study want two things: high-quality customer service, and an overall proposition that makes it easy for corporate treasury departments to do their jobs.

“Large European companies are looking for providers and platforms that make their treasury departments more efficient and life easier for their treasury staff,” says Melanie Casalis, Crisil Coalition Greenwich Research Director and co-author of the report. “More than anything, companies want partners that deploy human bankers who understand their businesses, provide prompt and responsive service, and are stepping up proactively to provide advice.”

For that reason, banks should continue investing heavily in innovations that make their sales and customer servicing teams more effective—even if those investments are never explicitly recognized by clients. That spending should be complemented by investments in digital solutions targeted narrowly at the most important day-to-day cash management functions and the most frustrating day-to-day pain points for corporate treasury professionals, including areas like account opening and documentation.

Consolidation Ahead
Due to high switching costs, cash management relationships are quite “sticky” for banks, historically serving as a reliable source of consistent revenues. However, banks cannot afford to take clients for granted, and providers that allow low satisfaction scores to persist could be at risk. The reason: Nearly 30% of large European companies expect to reduce the amount of business they do with specific cash management providers due to optimization plans and consolidation.

“Across the industry, we believe that efforts by companies to maximize value in both specific products like cash management and across broader relationships will play to the strength of global competitors and could contribute to additional consolidation among European banks,” says Dr. Tobias Miarka.

European cash management: Companies want more impactful bank innovation assesses corporate satisfaction with innovation and other aspects of bank cash management offerings, analyzes the key criteria large European corporates use when selecting or switching cash management providers, identifies the new tools and features companies most want from bank platforms, and examines the potential impact of companies’ effort to optimize their lists of cash management providers.