Paris, September 24, 2026 – The global payments industry is approaching a tipping point. As stablecoins, tokenized deposits^[1], and central bank digital currencies (CBDCs) move from experimentation to commercialization, banks face mounting pressure on traditional payments revenue pools. According to the Capgemini Research Institute’s World Payments Report 2027, these instruments are projected to account for approximately 4% of the global payments volume by 2030, impacting high-margin revenue streams such as foreign exchange spreads, correspondent banking, float income, and transaction processing fees. 

Banks have prioritized payment innovation for corporate clients over the last three years with 60% identifying it as a strategic area of investment. However, only one in three corporate clients are satisfied with their primary banking partner, revealing a widening gap between what banks are delivering and what businesses increasingly expect. 

Nearly three-quarters (74%) of corporates describe cross-border payments as slow, costly, and unpredictable. The end-to-the-end journey for corporate payments, from origination and transfer to confirmation and reconciliation, takes roughly 3.5 days. During that process, more than half (57%) report lacking access to live payment status, cash positions, or transparent pricing. Corporates rank predictability of settlement outcomes, real-time visibility into payment execution, and stronger protection against fraud among their most persistent unmet needs. As a result, corporates incur total costs equivalent to 2% of transaction value for a typical cross-border business-to-business (B2B) payment.

Now in its 22^nd edition, the new report surveyed over 1,100 large corporates with revenues greater than USD 1 billion. On average, respondents indicate they operate in 14 markets, maintain 11 banking relationships, and conduct 34% of their B2B payment volume through cross-border transactions. Despite improvements in payment infrastructure, operational fragmentation remains the most defining challenge for corporate clients.

Accelerated intelligent money instruments emerge as a catalyst for transformation

Structural limitations in B2B payment infrastructure, regulatory clarity, and shifting market dynamics are driving the emergence of what the report defines as “accelerated intelligent money” – stablecoins, tokenized deposits, and CBDCs that enable money to do more than simply move between accounts. By supporting 24/7 execution, built-in rules and real-time settlement, these instruments can reduce friction during cross-border payment flows. The report estimates that widespread adoption could unlock as much as USD 4 trillion currently trapped in settlement and liquidity accounts – capital that generates little return and cannot be deployed for lending, investment or other productive uses.

Corporate demand is already building for this new generation of payment instruments and banks remain the preferred provider: 71% of corporates would choose a bank over a fintech for tokenized payments at equivalent cost and quality. However, that preference is not guaranteed. Nearly 60% of corporate clients are willing to source stablecoin services from non-bank providers if their banking partners fail to keep pace. This competitive erosion arrives as corporate clients report 36% of their B2B payment volume already flows through non-banks.

“The payments industry is entering its most significant period of disruption since the emergence of digital banking,” said Jeroen Hölscher, Global Head of Payment Services at Capgemini. “We are moving past the intelligent money hype cycle into a period where the economics and transaction volumes make it impossible for banks to remain on the sidelines. With $230 billion at stake, banks must decide what role they want to play in this emerging ecosystem. A select group of banks have already made their choice and are now shaping the standards and governance that will define the market. Those that act now will build lasting trust, capture new payment flows, and retain the corporate deposits that underpin their wider banking relationships.”

Banks identify tokenized deposits as key priority

As intelligent money moves toward commercialization, banks must define their strategic position in this ecosystem. The report finds that bank executives identify tokenized deposits as the top near-term priority for their ability to remain on balance sheets and fit within existing regulations. However, only 21% of banks – classified as leaders – are actively scaling at least one accelerated intelligent money instrument, while the remaining 79% of banks are still evaluating their position.

These high-achieving banks are focused on specific corporate use cases that address operational friction and monetize their value beyond transaction fees. The payoff is measurable as these leaders are three times more likely than mainstream banks to identify new revenue streams and expect to offset declining transaction revenue within 15 months, versus 25 months for rest of the industry. They are also more decisive: 33% of leaders aim to pursue a transformative market posture by shaping how the ecosystem operates, compared with 40% of mainstream banks that intend to take a reactive approach.

According to the report, since settlement with intelligent money is irrevocable, leaders place a premium on compliance by embedding it directly into execution before money moves. They outpace mainstream banks by 1.5 times on cross-network transaction monitoring and are 1.2 times more likely to both invest in AI-driven surveillance to flag unusual wallet behavior and implement real-time Anti-Money Laundering (AML) and Know Your Customer (KYC) checks into transaction flows.

Yet even among leaders, foundational gaps remain. Just over half (56%) report having the talent and skills to build and maintain digital assets, technical readiness, and capabilities required to support tokenization, smart contracts, and interoperability across financial networks. Closing that gap will determine which banks are best positioned to move from experimentation to scale.

Paris, September 16, 2026 – Climate disruption, water stress, resource constraints, and geopolitical volatility are increasing pressure on business operations, supply chains and growth. According to the fifth edition of the Capgemini Research Institute’s A World in Balance: The resilience reset report, organizations are responding by placing greater emphasis on climate adaptation and business resilience^[1]. In addition, nearly two-thirds of organizations say they use AI to advance their sustainability agenda. However, the research also reveals a widening gap between ambition and delivery, as more organizations fall behind on net zero commitments and struggle to measure climate- and AI-related impacts.

Sustainability strategies increasingly focus on resilience, business continuity, and access to critical resources Nearly nine in 10 organizations report that climate-related events have disrupted their supply chains. In response, 68% of executives say their organization actively prioritizes climate adaptation, up from 56% in 2025. The way business leaders perceive sustainability is evolving, stretching beyond reporting and compliance and increasingly being seen through the lens of measurable business outcomes, resilience, continuity, and access to critical resources. Nearly two-thirds of executives identify energy- and critical-resource security as a key driver of sustainability investment. More than seven in 10 say that securing access to critical resources – including energy, water, and materials – now has greater influence on sustainability decision-making than emissions-reduction targets.

This transition is also reshaping organizations’ strategic priorities, with more than three-quarters of executives saying their organization is accelerating efforts to integrate energy and resource resilience into business and sustainability strategies. Alongside energy security, water-related risks are a growing concern – 61% of executives believe water scarcity will present a greater constraint on business growth than energy availability over the next five years.

While awareness of these risks is growing, operational readiness remains inconsistent. Just 15% of organizations have fully quantified the financial impact of climate-related disruptions, with just over one in four executives say their organization has assessed climate risks across its extended value chain or deployed climate-risk analytics tools or platforms. Nevertheless, there are signs that adaptation capabilities are maturing – the share of executives who say their organization is underprepared for climate impacts has fallen from 54% in 2025 to 44% in 2026.

“Climate change disruptions have become our new normal, and yet there is still a wide gap between business leaders’ awareness of the risks and actual implementation. In order to protect their supply chains, operations, infrastructure, and access to essential energy, water, and materials, they can no longer defer climate action,” said Cyril Garcia, Global head of Sustainability services and Corporate Responsibility, and Member of the Group Executive Board at Capgemini. “It is encouraging to see organizations prioritize adaptation and resilience for sustainable growth. But as climate and political risks evolve, organizations must continue to embed sustainability into their core business strategy and day-to-day operations.”

Sustainability investments continue to demonstrate a positive ROI

Nearly seven in 10 organizations say their sustainability initiatives have generated a net-positive return on investment. Almost two-thirds of executives (64%) say sustainability investments have boosted sales, up from 47% in 2025, and 74% acknowledge that sustainable practices have enhanced their brand equity.

Looking ahead, 83% say their organization will increase climate adaptation spending over the next 12-18 months, reflecting a trend that is already visible today: organizations spent 1.04% of revenue on sustainability initiatives last year, exceeding the 0.8% they initially allocated. This investment is also helping organizations manage business disruption, as nearly two-thirds of executives from manufacturing or asset-intensive sectors say these investments have improved operational efficiency under supply constraints, while slightly over half say they have enhanced their ability to anticipate and respond to operational and supply-chain disruptions.

Businesses struggle to follow through with their net zero commitments

While most organizations have sustainability goals, the research suggests that implementation remains challenging. In 2026, 84% of organizations say they have set science-based targets, up three points since 2025. Yet only 42% say they are on track to meet their 2030 or interim targets. The execution gap is particularly visible in net zero programs. The number of organizations falling behind on their net zero goals has increased more than tenfold since last year.  Moreover, 29% say they have postponed their net zero objectives, compared with just 8% last year.

Nearly two-thirds of organizations acknowledge that aligning sustainability efforts with science-based targets is challenging. Data availability, measurement, and value-chain visibility remain challenging. The proportion of organizations able to measure and collect data across all Scope 3 emissions has fallen to 34%, from 54% in 2025, underscoring the difficulty of tracking and managing emissions beyond direct operations.

AI supports sustainability initiatives, but environmental impact is hard to measure

AI is also increasingly considered as a tool to help turn sustainability ambition into action. Nearly two-thirds of organizations say they use AI to advance their sustainability agenda, and more than a third use or plan to use agentic AI for sustainability initiatives. At the same time, the environmental implications of AI are increasingly being recognized at senior levels. Seven in 10 organizations say AI’s sustainability implications are discussed in the boardroom.

However, oversight and disclosure of the technology remain limited. Nearly half of executives say AI has significantly increased greenhouse gas emissions. Yet concern about AI’s environmental impact appears to be outpacing organizations’ ability to measure it: just over a third of executives say their organization measures the energy consumption of AI systems and workloads, and the associated carbon footprint.

To access the full report: https://www.capgemini.com/insights/research-library/sustainability-trends-2026/

Methodology of the report

The Capgemini Research Institute surveyed 2,100 executives employed at 701 organizations, each with more than $1 billion in annual revenue, across 13 countries in North America, Europe, and Asia-Pacific and in 12 industries and sectors. Respondents represented industries and sectors covered across: aerospace and defense, agriculture and forestry, automotive, consumer products, energy, financial services, healthcare and life sciences, industrial manufacturing, retail, telecom, utilities, and the public sector/government. The survey took place in June and July 2026. The research also includes a global survey of 6,500 consumers and interviews with 15 executives at leading organizations.