JPMorgan, Citi, and Bank of America are competing for corporate deposits by offering advanced treasury services rather than just interest rates. These banks focus on faster settlement, automated reconciliation, and programmable liquidity to attract corporate clients.
J.P. Morgan Payments reported quarterly revenue of $5.6 billion, a 14% year-over-year increase. Citi's Services business saw a 15% revenue growth with a 16% rise in average deposits. Bank of America reported $669 billion in average Global Banking deposits, up 6%, alongside a 10% increase in treasury service charges.
Banks are integrating blockchain and tokenized deposits to streamline fund transfers. Citi currently operates tokenized deposit services in seven global markets. JPMorgan is utilizing its Kinexys blockchain network and embedded payment integrations to support real-time posting.
Digital platforms are becoming central to banking relationships. Bank of America noted that 86% of its qualifying Global Banking clients are digitally active, with payments via its CashPro app reaching $358 billion, a 20% year-over-year increase. Global Transaction Services revenue for the bank reached $3 billion.
Research indicates a strong shift toward automation in corporate finance. A July report found 88% of financial institutions rate the ROI of real-time B2B payment rails as high. Additionally, 70% of firms plan to adopt or expand automated invoice and ledger matching within 12 months.
