The segment has been battling a slew of challenges for a while now – from geopolitical and macroeconomic uncertainties across regions, to increased costs of regulatory compliance, and competition from new and innovative players, the onslaught seems relentless. The tipping point, of course, the Covid-19 pandemic that eventually has pushed corporate banking segment into a digital adoption overdrive, resetting existing competitive advantages.
In the aftermath of Covid-19, corporate banks are adopting innovative business models, scaling organizational capabilities, and driving new digital strategies to realize their growth vision. Here are the case stories of two such leading corporate banks driving innovation.
As per our recent research on innovation in corporate banking, over 90% of banks expect corporate banking growth in the next three years to come from transaction lines such as cash management, payments, trade, and supply chain finance, which they prioritize for innovation investment and technology upgrades.
Recognizing the growth potential, a leading US-based global bank aspired to become a digital leader in transaction banking and worked towards building a digital-first transaction banking platform to empower enterprise clients experience the treasury practices of the future. This story details the bank’s use of modern technology to create a digital platform and position itself as a contemporary BaaS player.
Corporate international payments play an important role in a bank’s strategy for growth, revenue stream, and customer relationships. However, traditional banking practices poses complexities like high costs, lack of transparency in FX spreads and fees, uncertain speed of transfer and much more.
Let us take you through a story of a Spanish bank that sought an innovative solution for its treasury operations by unifying FX management and adapting a centralized liquidity model. This solution not only will address the existing challenges but also process transactions in real-time, offer services at competitive prices and help business customers manage money better. The solution was designed to power the next generation of cash and treasury management.
The digitization of all industries is disrupting the corporate banking landscape and its economics. Enterprises demand banks that offer a compelling value proposition, tailored solutions, and efficient banking services. This can be achieved by modernizing corporate banks’ core systems with a robust digital platform equipped with the latest capabilities. Finacle Corporate Banking exceeds these expectations.
We offer a comprehensive solution suite built on an advanced architecture. The solution addresses requirements of corporate banks worldwide like like trade finance, lending, syndication, payments, and more and enables them to deliver customized offerings to enterprise clients of all sizes. Finacle has helped corporate banks around the world reimagine their business with digital technologies to drive new revenue streams.