Traditionally, commercial banking has been one of the most profitable segments for banks. After a slow response to digitalisation and disintermediation in retail banking, banks the world over are strengthening their solutions and value propositions for their corporate business clients. A few FinTechs have already sprung up in the corporate banking space. However, banks have the advantage of long-lasting customer relationships with their corporate clients, and they must deepen these relationships by offering enhanced digital solutions to avoid getting marginalised. In this article, we shine the spotlight on five such solutions.
1. Digital self-service
In retail banking, the rapid adoption of new digital channels is evident. The multiplication of digital channels is driving self-service, and leading banks such as Capital One in the US are already offering banking services on smart voice assistants.
The growing trend and preference for self-service is on the rise in corporate banking too, where leading and progressive banks are introducing innovative, user-friendly solutions that can be accessed on the customer’s channel of choice.
Increasingly, corporates require a single portal from where they can view and manage all their operations across the globe. Take Santander UK – the bank offers cash management, cash forecasting and payment services that its corporate customers can access on any device.
Seamless integration of banking services with the ERP systems of large corporates is another solution proving to be a multiplier of organisational effectiveness and productivity for businesses.
2. Cash management
Large corporates in most countries are faced with the dual challenge of allocating cash reserves efficiently in times of negative interest rates and managing liquidity resourcefully for their growing international business presence. Corporate clients are looking for solutions that can help minimise liquidity risk and provide a real-time view of their global cash and liquidity positions.
Banks are tapping into the new open-banking possibilities and enriching their offerings

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