Enriching, Empowering, and Enhancing Corporate Banking
Key research questions
- Why is it important for banks to focus on enriching corporate customer journeys?
- How can banks empower their corporate banking staffs as well as clients?
- How can banks enhance their offerings to address customer needs and be more competitive?
Banks have a great opportunity to build stronger relationships, position themselves as advisers, and generate new revenue streams if they can respond to the corporates’ growing and shifting needs. Banks that harness their assets and expertise in corporate banking will win a disproportionate share of the global transaction banking revenue pool.
Banks are at a critical juncture. With revenue pools of nearly $1 trillion worldwide at stake (cash management/payments, trade finance, and lending; Oliver Wyman), banks need to enrich client as well as staff experience, empower clients with effective self-service and bankers with data analytics, and enhance corporate banking overall by adopting a design thinking approach and partnering with solution providers in the vanguard.