Current Situation
Today’s bank-centric ecosystem is expensive for banks to manage and inconvenient, slow, and tedious for customers, suppliers, and partners to access. Host-to-host dominates corporate-to-bank connectivity. This makes onboarding new customers expensive and lengthy, while customers struggle to integrate data to get a cross-bank view of their financial position.
Goals and Objectives
- Improve product and business model innovation and competitive standing.
- Facilitate data access for clients – real-time access to payment data rather than with current MT101s and MT940s.
- Reduce customer onboarding times from weeks to days.
- Move away from the batch to real-time.
- Address key client pain points and develop better customer experiences.
Technology Deployed
- Enterprise digital platform
- APIs
Use Case Summary
Client connectivity simplification will enable banks to connect to a multitude of other entities faster. A seamless integration between banks, corporates, ERP and TMS providers, and payment systems is crucial to accelerate the DX and power industry 4.0. Corporate customers benefit from a better visibility of their liquidity, operational efficiency and lower cost.