Here we go again.
Here we go again.
It’s a bright sunny day, you’re enjoying a round of golf and you get pinged to approve a $4.3bn transaction. Think it’s possible? Yes, because there is an app for it.
Mobile corporate transaction banking is no longer an exception, it is a necessity. Banking technology has evolved with the changing landscape of customers, from corporate internet banking to corporate mobile banking.
As the corporate treasurers’ role transforms, what corporate banking customers want today is access to information and services, secure transacting and automation of processes to enable efficiency. Recognizing this need for change, banks are primarily focused on integrating and utilizing emerging technologies.
Mobility in Corporate Banking – Not Just Servicing the “Schedule-Stricken Senior Executive”
The benefits of mobility in corporate banking are not limited to authorization processes and engagement of senior executives or treasurers.
The Skeptical Adoption of Mobility by Corporate Banks
As compared to the widespread adoption of mobility in the retail banking space, corporate bankers are still skeptical about complete adoption. Their main concern- security.
Is confidential data secure?
Are user-authentication procedures concrete enough?
With Bring Your Own Device (BYOD) being the ‘in’ thing, what if a device with sensitive information is misplaced?
While these concerns may be valid, corporate bankers need to take a look at the customizable features of emerging banking technology products. With embedded, robust security systems, high-speed performance, user friendliness, device and channel agnostic characteristics, adoption and integration of innovative banking technology is inevitable.
Technology companies are building new mobile banking systems specifically for corporate customers. They are introducing relevant functions that can be used on the go. Functions such as multi-device operability, workflow and transaction approvals, fund transfers, secure bank messaging and alerting. Corporate banks need to extensively adopt mobile banking technology in order to provide mobility for banking executives on the move.
Get to know how to utilize a high-speed banking platform to provide an advanced highway to run customer payments services, receivables management, cash management, liquidity management, trade finance and supply chain finance in an integrated set, through a single platform. Find out more in this year’s annual conference of Sibos, where iGTB will be showcasing its core comprehensive products.
The digital era has changed the entire landscape of the banking industry, and has provided new opportunities to improve customer experience. Customers are increasingly using smartphones, tablets and PCs to access financial information and perform transactions.
With evolving technology and customer landscapes, it is important for businesses to keep up with the trends in digital banking:
Banking strategies have changed over time to suit the evolving needs of various customers; with no room for ‘one size fits all’. Planning is integral to counterbalance device and platform differences.
In this digital world, keep up with what’s hot and happening. Expect the extraordinary and experience “Digital Banking 360” showcased by iGTB for the tenth consecutive year at the Sibos annual conference.
Take a look around, there’s an interesting transformation happening today.
Customers are getting digitized
Whereas customer touch points are getting humanized
Welcome to the age of Customer 3.0. The type of customers who are not defined demographically, geographically or economically, but by their evolution to adopt new technology to meet their banking and transacting needs. To serve the evolving customer landscape, the omnichannel approach is the need of the hour.
The focus of the omnichannel approach is on contextual banking to create a holistic experience to enable customers seamlessly transact. The omnichannel concept of engagement banking refers to providing a single experience for banks’ customers across multiple channels. In this approach, irrespective of the channel chosen by the customer, the functions, services, capabilities and experience should be the same. The omnichannel approach also supports bankers on the go, by providing agility, flexibility and secure access to information and systems anytime, anywhere, through any device.
For instance, if a customer wishes to open a new bank account, the banking representative could use an app to fill in customer details, an e-signature could be captured, digital documents could be securely uploaded and verified, and a new account could be opened within minutes using minimal paper work. This is what omnichannel integration facilitates.
What is required is an intuitive, real-time omnichannel interface that uses transformative distribution technology to provide an exclusive business banking software to create that seamless experience that the customers desire.
At this year’s Sibos, iGTB’s core comprehensive products are being showcased, from Corporate Banking Exchange, Customer Onboarding, Payments Services Hub to Liquidity Management. All these modules are available, through intuitive real-time omnichannel interface, renowned Corporate Banking Exchange (CBX), powered by Canvas Technology – a transformative distribution technology.