As traditional banks integrate their services into nonbanking platforms, virtual accounts provide the necessary agility and scalability to streamline accounting and ledger management. By abstracting complex account structures and simplifying reconciliation processes, the true potential of this technology is realized when we consider these as virtual “ledgers” rather than mere accounts. Moreover, virtual ledger solutions offer a bridge between legacy infrastructure and modern fintech demands, allowing FIs to innovate without extensive system overhauls.

This report illustrates how institutions can maximize their revenue potential using virtual ledgers. It is based on analysis drawn from Datos Insights’ 2023 to 2024 research on virtual account management systems, complemented by external data and conversations with banking and fintech leaders. It also relies on a Q3 2023online survey of 1,037 employees from midsize and large organizations in seven North American and European countries (Canada, France, Germany, Italy, Spain, the U.K., and the U.S.).

Clients of Datos Insights’ Commercial Banking & Payments service can download this report.