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Corporate Mobile Banking and Bank’s Omnichannel Strategy

29th of April 2015
Report

Banks have been quick adopters of new technologies in developing services for consumers. Throughout this evolution, small and medium size enterprises (SMEs) have been fairly well served, since their needs are broadly similar to those of consumers.

However, big corporations have often been overlooked.

Corporate clients are slower to demand new technologies, because of legacy systems and internal rules, and banks have been shy to invest in the development of these services without being certain of the return on their investment.

As the distinction between work and leisure time has blurred, the gap between the services available for consumer mobile banking services and corporate mobile banking has become ever more evident.

Many executives now need to be available 24/7, which emphasizes the need for real time corporate banking, independent of time and place.

Corporate users would benefit from a multi-level financial offering on various devices, where the user is able to decide which device they will use and in which situation.

Corporate clients’ expectations require banks to start putting more emphasis on developing dedicated mobile corporate banking services. Mobey Forum believes that mobile corporate banking should be a key component in a bank’s omni-channel strategy.

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