Legacy corporate banking systems do not enable corporate clients to optimize payments beyond simple business rules such as cost or timing. Payment service offerings for corporate customers lack faster settlement options and advanced analytics. This is especially true for smaller corporate clients and large “small business” customers.
Goals and Objectives
Provide corporate and treasury customers with more control of payments and cash management, faster settlement, and the advanced data analytics to predict things such as cash flow. Enabling this capability for corporate clients, both large and small, is a competitive differentiator in the market today.
Payment services hubs built on service-oriented architecture (SOA) and/or open API architectures; BDA; sophisticated modeling including AI/ML; real-time performance management and BI tools for payments; and integration of payments into ERP/CRM and other enterprise business process systems
Use Case Summary
Large corporate clients need more flexibility in paying vendors that offer lower costs, cash management capabilities and the data to more precisely manage their accounts. A unified payments infrastructure allows the bank to provide a flexible architecture within which these services can be delivered.