Make corporate payments simple, relevant, instant
May 20, 2019
May 20, 2019
The power of today’s technology solutions—like mobile wallets, contactless systems, wearables, open AI, biometrics, cloud and more—is making payments even more essential for large businesses and small- and medium-sized enterprises (SMEs) in building process efficiency, distinguishing their products and services, better managing cashflow and growing business. Just by increasing their use of open APIs, for example, corporates can automate more of their payments and cash management from a single portal across multiple banks.
The reality means that banks must step up their corporate payments game to deliver the innovation that helps corporates adapt to an open, instant and invisible world. There are five key focus areas:
Shift from overnight batch-only to a mix of purely transactional, scheduled transactional and batch operations.
Use digital technologies to make it easier for corporates to access their financial information and more targeted banking products and services.
Infuse innovative features, such as data analytics, into your base offerings to enhance service to corporates.
Offer new value-added services, like cashflow forecasting, around and across all payment types.
Create “packages” that suit commercial bank customers’ needs across their financial value chain.
Corporate customers are seeking more real-time services from their banks, including immediate payments, account balances and status updates. Contact us to see how we can help.
Only 45% of companies are fully satisfied with their firm’s business software for payments and banking.
– Accenture Research
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