At glance

• Prioritize streamlining commercial onboarding to reduce KYC bottlenecks and streamlining data input.
• AI has become central for FIs to offer personalized services to both customers and employees. Reducing expenses and improving efficiency through greater automation.
• Cloud-powered organizations are twice as mature in cloud governance, underscoring the role of robust cloud strategies in accelerating transformation.
• Real-time financial data exchange, streamlined automation of banking transactions, and improvement in financial management are driving commercial banks to successfully implement open APIs.
  
• Cash flow visibility and optimized management tools are essential to make strategic, forward-thinking business decisions.

Unlocking corporate banking innovations & strategies for leaders

Cutting-edge technologies such as AI, cloud computing, and APIs are revolutionizing the corporate and business landscape by enhancing operational efficiency, streamlining interactions, and providing services that mirror the customer-centric experiences found in retail banking.

Learn how you can leverage technology to enhance the services of your financial institution towards corporations.

1. Smooth and faster onboarding

2. Artificial Intelligence

3. Cloud corporate banking

4. API and Open Banking

5. Financial management tools

4. Smooth and faster onboarding

Corporate client onboarding is lengthy, complex, and manual, taking up to 100 days with extensive document collection. This process poses a high risk of abandonment, leading to potential dissatisfaction and negative perceptions.

Improving onboarding efficiency presents a growth opportunity for banks, with a focus on addressing KYC bottlenecks and streamlining data input to enhance the client experience and reduce time-to-revenue.

1. Artificial Intelligence

AI is becoming increasingly central to globalized economies, which means commercial banks must deploy this technology at scale to remain competitive. Banks that use AI can enhance revenue by offering more personalized services to both customers and employees. They can also reduce expenses by improving efficiency through greater automation, reducing the rate of errors, and optimizing resource utilization. Additionally, AI can reveal new and untapped opportunities by enhancing the capability to analyze and draw insights from large volumes of data.

As we enter the Age of AI, many bankers feel the same sense of awe that their counterparts did as they stood on the verge of the Digital Age. 

- Michael Abbott, Global Banking Lead, Accenture 

The scale of the opportunity opened up by AI is almost limitless. The adoption of this game-changing technology is predicted to unlock up to $1 trillion in annual value for global banking - creating rewards for pioneers and innovators.

It clearly shows how leveraging tech pays off for forward-thinking institutions. Between 2018 and 2022, banks regarded as digital leaders achieved average annual total shareholder returns of 8.1% compared to 4.9% for laggards.

2. Cloud corporate banking

Cloud technology has become a strategic foundation for banks, enabling greater operational agility, cost optimization, and scalable growth. According to the PwC US Cloud Business Survey, cloud-powered organizations are twice as mature in cloud governance, underscoring the role of robust cloud strategies in accelerating transformation.

PwC's survey says that "95% of banking and capital markets respondents say they are now, or will be in two years, fully on the cloud." Cloud banking is now an operational necessity for financial institutions of all shapes and sizes, although there is no denying that cloud migration is complex.

3. API and Open Banking 

The surging demand for APIs is fueled by the need for seamless real-time financial data exchange, streamlined automation of banking transactions, enhanced precision, and efficiency in financial management.

By seamlessly integrating banking services into their operational systems, companies strive to optimize treasury and lending processes, minimize manual interventions, and drive more informed financial decision-making.

A recent Gartner survey found that 44% of commercial banks have successfully implemented open APIs to enhance customer experiences, drive innovation, and speed up time-to-market.

5. Financial management tools

Corporations and medium-sized businesses are seeking more than just traditional financial products. Today's financial instituions' commercial banking offering is outdated and often falls short of meeting the complex needs of commercial clients.

Owners and financial directors of corporations are on the lookout for cutting-edge financial management tools that enable them to effectively monitor and control cash flow.  These tools are essential to strengthening business credibility, securing funding, and enabling more strategic, forward-looking decision-making.

Fintech partnerships streamline commercial banking

Financial institutions must collaborate with FinTechs to meet corporations' needs, offering cutting-edge tools and services for streamlined operations and informed financial decisions, reshaping how SMBs access banking services in the digital era.

To gain a deep understanding of these innovative business banking strategies, read the full report.

Drive growth from corporate banking

Discover how your financial institution can meet the evolving expectations of commercial clients and leverage technology to deliver the products, services, and support the clients of tomorrow will need. 

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