23 September 2014

44975

Retired Member

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Electronic Bank Account Management

A group for discussion of how banks and corporates are moving towards standardisation and more efficient, automated processes for opening, maintaining and closing bank accounts.

That's the way we've always done it

08 July 2009  |  5116 views  |  0

I can’t agree more with Hilary Ward from Citi. In her recent article on GTNews, Hilary talks about the benefits of automating the process around on-boarding and bank account management, between corporates to banks. “While the process has not fundamentally changed in 100 years, the technology and the demand from clients to move from paper to electronic has.”

I have recently received some data from one of the largest corporates in the world around the time it takes their banks to open a bank account (weeks and months), the time it takes them to change an address (a bit less than that… ) and what happens if one of their top corporate clients is demanding SLA’s (they employ more people).

I want to be able to gather more information on it in order to help banks and corporates make the case internally and join the EBAM steering committee. So, if you have interest, and you’re either a corporate or a bank, please log-in to the Finextra survey http://www.finextra.com/Survey_ebamLanding.asp  and you will receive the information in September.

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