The trends driving digitalisation in corporate banking
Register for our latest webinar with Volante on Thursday, 11 February 2021 at 15:00 GMT as industry experts discuss the the trends driving digitalisation in corporate banking.
Why aren’t corporate treasurers receiving the same benefits of digital in their corporate life that are abundant in the retail experience? The stasis of corporate banking products relative to retail banking over the last decade illustrates that the corporate banking sector is significantly underserved.
In today’s environment of change we see a wealth of frictionless, instant and data-rich products and services offered across the retail banking world. The move to real-time and ISO 20022, which is occurring through schemes and infrastructure, is not yet seen as immediately beneficial to corporate treasurers. This slow uptake of benefits stemming from the proliferation of APIs via open banking by the corporate sector may have been caused by PSD2’s initial focus on retail account balances and transactions.
Under more pressure than ever from their boards and shareholders to demonstrate how they are mitigating risk (sometimes across multiple markets), corporate treasurers must also improve visibility across balances and transactions, while optimising liquidity management. They need not do this alone. Banks are ideally positioned to relieve pressures faced by corporate treasurers and can begin this journey by asking how they can better serve their corporate customers to improve their overall corporate banking experience.
The increasingly competitive financial technology landscape presents both an opportunity and a challenge for banks, which must act quickly to meet new demands of their corporate clients. By failing to meet these expectations banks risk losing corporates to agile ecosystem players such as ERP/TMS providers or fintechs, relegating banks to mere utility account service entities rather than true corporate banking service partners. There are a multitude of approaches to increasing the level of digitalisation of corporate banking, but how should such initiatives be transformed into propositions that also serve the corporate treasurer?
Sign up for this Finextra webinar, the first of four in association with Volante Technologies during 2021, to join the industry expert panel discussion on the following areas:
- What are the leading trends driving corporate treasurer demand for greater digitalisation of corporate banking?
- Where are the weaknesses in how banks currently approach the provision of corporate banking services?
- What exactly are the benefits that corporate treasurers and treasuries can obtain from better digital corporate banking services?
- What do banks need to do to prevent being disintermediated either by challenger banks or by non-banks in capturing this opportunity?
- What is the role of technology – cloud, APIs, ISO 20022, instant payments – in delivering these benefits?
- Gary Wright – Head of Research, Finextra [Moderator]
- John Farrell – SVP Product Management, Volante
> Register your place now