Digital is the race banks are in. Whether Francisco Gonzales of BBVA is right to predict it causing the demise of “tens of thousands” of banks, digital transformation is happening now. Digital outside. Digital inside.
Digital meaning full, seamless, omnichannel access by businesses to banking services and beyond, seamlessly using any device or channel. Beyond: information from other banks, integration with other services, added value, access to external data such as LEI, ability to vet potential suppliers and customers, natural language processing and contextual search to recognize industry events and provide recommendations, and more.
The cornerstone to digital outside for a bank has to be its security. Entitle the corporation. But not too far. Fine grained entitlements are essential for a multinational conglomerate to give the right read or execute access with the right thresholds to head office, subsidiaries, financial staff, operations staff, HR/payroll and management. SMEs, often with no finance team (or an unsophisticated one), need to spend more time on their business and less on their banking. They are crying out for better service.
Digital means ability to craft solutions for segments, whether SMEs, mid-caps, MNCs or FIs. But also to craft solutions for sectors. The needs of a professional services practice where different legal entities share a facility and handle large domestic client balances are different from those of a manufacturing, exporting company with offshore factories needing to trade internationally hedge against exchange rates; different from a national health trust trading domestically with 30,000 suppliers but only one or two clients; different from a toy provider with retail chains in many countries and needing to repatriate funds as quickly and safely as possible.
Banks are now genuinely interested in their customers’ experience and in providing solutions that fit, not just exposing their back office banking capabilities. Workflow that suits the customer. Personalization to a client to win that all-important RFP. Handling the different needs of subsidiaries to become unable to be dislodged as principal bankers.
Digital means ensuring the customer’s digital experience with the bank outside the firewall, provided by the bank’s marketing department, is a seamless fit with the experience once inside the firewall, interacting and transacting and using offerings from many different product departments in the corporate bank and its sister organizations: card company, capital markets division and retail bank at least.
RUN THE BANK. CHANGE THE BANK. DESIGN THE BANK.
iGTB is your platform to power your way to principal banker position.Designed for complexity reduction between banks and corporate customer operations, our technology assures enhanced operational productivity, while you deliver addictive customer experience.With 7 of the top 10 global transaction banks running on our solutions we are the authority progressive banks rely on to realize their GTB ambitions.
Sydney • Tokyo • Hong Kong • Singapore • Mumbai • Dubai • London • New York • Toronto