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Four ways of digitally transforming
corporate banking initiatives

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Overview

The uncertain economic environment – shrinking of the GDP across the globe and the forecast that economies would take 7 to 10 years to bounce back to pre-COVID levels, has cast a spell of rough ride for corporate banks in the near future. It is further complicated by the increasing institutional demand for seamless integration and real-time results across the breadth of their relationships. The silver lining is favorable developments in the enabling environment, especially around payments and the open data.

Banking leaders are increasing their efforts towards establishing their foot print in this challenging landscape by focusing on the following.

360 Degree View

The SWIFT GPI finally provides a platform to bring together all the actors involved in the domestic and international trade and payment system. By building an integration layer on top, it provides an opportunity to bring cash management and liquidity information for the customers. This has been a long pending ask, especially for customers with high international exposure.

Open Data and Ecosystem Connect

Banks have to continually build the connectivity and tools to conduct necessary analyses for taking meaningful decisions. Using the derived data and integrating those to the entire bank’s systems – from customer facing to transaction systems, will make this initiative successful.

Use of AI and Other Tools

In a digitally enabled environment and among the digital first institutions, it becomes important that the data search, analysis, and intelligence are made in a manner that is readily exchangeable and usable in the discussions to surface the entire application-to-lending cycles.

Integration to Corporate Systems

It is vital for the banks to be deeply entrenched and integrated with the various branches of the corporate systems. Starting from hire-to-retire, people’s process, order to cash, and request to store procurement process to the capital investment programs, all relevant parts of the mentioned functions need to be seamlessly integrated with the bank. This ensures that Straight Through Processing (STP) is maximised.

Hybrid Interface

It is essential that the banks straddle both the digital savvy and non-savvy institutions in the near term and also include human touch where necessary. This ensures that transactions do not wait and are progressed to conclusion at the optimal time scale. This means that the customer access systems switch between virtual and human touch based on the situation. For this to happen, integration with capable AI systems is the need of the hour.

Our Focus

With a singular focus on banking technology for over 21 years, Maveric has partnered with banks in their successful roll-out of 25+ corporate banking technology adoption programs. Our domain led technology services help banking leaders address their most pressing challenges through comprehensive competencies across data, digital, core systems and quality engineering.

Our focus areas in corporate banking include the following:

Trade finance both domestic and international including