Capital One Survey Finds Most Finance Professionals Will Implement New Treasury Management Products and Services in 2017

by PaymentsJournal 0

Commercialcard adoption continued to grow across the industry

Cybersecuritycited as a key concern for corporate mobile banking

New York, NY(December 8, 2016) –The vast majority (83 percent) of finance professionals are planning toimplement new treasury management products and services in the coming year,according to a recent survey conducted by Capital One’s Treasury ManagementGroup. The survey also found that adoption of commercial credit cards to managepayables processing continued to grow in 2016.

Seventy-fourpercent of respondents use a commercial credit card to manage payablesprocessing, an 11 percent gain over the prior year. In addition, 87 percent ofrespondents can access mission-critical information remotely, a 24 percentincrease from Capital One’s 2015 survey. However, everyday adoption of mobileproducts is still a work in progress; a small majority (54 percent) reportedthat only a few key executives in their organizations complete financefunctions from their mobile devices on a regular basis.

“Mobileproducts align with the expectations of our customers and how they want toengage with their work,” said Rick Elliott, Head of the Commercial Card Groupat Capital One Bank. “We’re in a time of rapid change in the industry; we haveseen mobile adoption gain some traction, but we need to set a higher bar for customerexperiences.”

Patrick Moore,Head of Capital One’s Treasury Management’s Product Management group, notedthat fifty percent of respondents prefer a treasury management servicesprovider that will focus on solving their company’s unique pain points. “AtCapital One we take a human-centric design approach to identify pain pointsthat clients are experiencing day to day. We’re focused on reducing thefriction in the system to create a more seamless work flow and enhance thecustomer experience.”

Cybersecurityremained top of mind among industry professionals. Ninety-five percent of thosesurveyed reported their organizations have implemented new security measures inresponse to the growing threat of cyber fraud, a 25 percent increase fromCapital One’s 2015 survey. Meanwhile, the majority (94 percent) of respondentsreported security concerns as the primary barrier to adoption of a corporatemobile banking platform, a 41 percent increase from 2015.

The survey,conducted at the Association of Financial Professionals (AFP) Annual Conferencein October 2016, gauged views on treasury management services and corporatemobile banking platforms and their respective security.

Note toEditors

Capital OneBank’s survey was conducted at the Association of Financial Professionals (AFP)Annual Conference in Orlando, Florida, on October 23-26, 2016. The survey wasdeveloped to gauge views on treasury management services and corporate mobilebanking platforms and their respective security. Percentages are based on 123responses unless otherwise indicated on the data sheet.

AboutCapital One

Capital OneFinancial Corporation ( is a financial holding company whosesubsidiaries, which include Capital One, N.A., and Capital One Bank (USA),N.A., had $226.0 billion in deposits and $345.1 billion in total assets as ofSeptember 30, 2016. Headquartered in McLean, Virginia, Capital One offers abroad spectrum of financial products and services to consumers, smallbusinesses and commercial clients through a variety of channels. Capital One,N.A. has branches located primarily in New York, Louisiana, Texas, Maryland,Virginia, New Jersey and the District of Columbia. A Fortune 500 company,Capital One trades on the New York Stock Exchange under the symbol”COF” and is included in the S&P 100 index.

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