The typical coffee machine chat with players and observers of the corporate banking world lately always seems to come back to the massive change over the past year and a half in how banks have brought their cash management, trade finance and indeed their
payments businesses closer together. There are significant similarities and synergies between these previously siloed areas, particularly in terms of customer relationship:
Interestingly, the last point might be quite scary for many transaction bankers and almost contradictory to the stickiness objective (e.g. "isn't it easier for my customer to leave my bank if I am exposing all of its data in a mashable way in a portal?").
However, the latest feedback we are getting seems to point the other way: you have more opportunity to get happier and stickier corporate customers if you are more innovative at openly exposing their data with self-service capabilities into your e-banking
Has anyone noticed a similar change of views towards the more open model?
Bank Clients are really disillusioned and frustrated with banks that still have heavy, inefficient paper processes. Actually this starts with the opening and closing of accounts, even before funds transfers and cash management. Here the eBAM initiatives
have already started to become available by various banks. These systems:
I believe that corporate customers will willingly be more innovative and open to exposing their data, using self-service capabilities and embodying electronic banking
provided the technology contributes to, rapidly improves and enhances their existing relationships.
Trust is the key factor that influences the adoption of electronic banking. Perceived customer satisfaction with the bank only has indirect impact. The cumulative effects of customer satisfaction however have a positive impact on trust directed towards
the bank, and this greatly impacts the propensity to use electronic banking. Moreover, customer satisfaction, trust (with mutually open relationships), and the use of electronic banking clearly follow through with a positive impact on the corporate clients’
commitment towards their bank.
© Finextra Research 2016