A survey on treasury fintech shows that the UK and Singapore are leading the way in investing in fintech solutions for corporate treasury. The US and France are lagging behind.

Treasury FinTech Index is a quarterly survey – the first edition of which has been launched this week by the publishers of GTnews and bobsguide, in collaboration with the B2B consultancy, East & Partners.

The survey monitors the adoption of fintech by corporate treasury by surveying more than 700 treasurers, showing that the majority of corporate treasurers from some of the biggest global firms expect to invest considerably in fintech in the next 12 months. The survey aims to help companies to benchmark their own adoption of fintech with that of their peers.

Survey key findings

Some of the key findings from the survey include:

• 69 per cent of UK corporate treasurers expect their fintech expenditure to increase in 2017 and, overall, they expect it to increase by 14.5 per cent;
• 67 per cent of corporate treasurers in Singapore also expect to increase their fintech spend next year and, overall, they expect to increase it by 12.2 per cent;
• investing in fintech is less of a priority in other countries: just 28 per cent of US treasurers expect to spend more on fintech next year and only 24 per cent of French corporate treasurers expect to increase their expenditure;
• 30.9 per cent of corporate treasurers in China said their company has already invested in fintech.

One of the report's authors, Paul Dowling, principal analyst at East & Partners, said: “The adoption of fintech by the treasury function at leading global corporates is clearly underway. It is led by the UK and Singapore, but China is set to catch-up thanks to the investments it is directly making in these technologies. What is surprising is that the US ranking in the adoption of treasury fintech languishes behind virtually all of the other global players.”

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CTMfile take: The investment in financial technology for corporate treasury indicated by these survey results can only be a good thing but as Paul Dowling says, it is surprising that US corporates seem to be placing less importance on using technology to improve their treasury processes.