According to a new ‘Impact Note, Corporate Mobile: Gaining Momentum’, from independent research and advisory company Aite Group, for banks already offering corporate mobile, the focus is on enhancing the breadth and depth of their capabilities beyond cash management and payment to align with their portal strategies. Planned enhancements include capabilities such as checking the status of a letter of credit or viewing commercial loan balances or liquidity information from a mobile device. These initiatives often align with developing their corporate portal strategies.
The study has also found that early movers are focusing on making their offerings more global. Regulations and compliance issues vary by country and region, however, making this a challenging task.
Finally, the research has revealed that banks should focus on functionality when rolling out mobile technologies for corporate banking. The survey has also found that analytics are heavily underutilized within banks treasury services. Analyzing the vast amounts of data existing within a bank can provide huge insights to enhance the overall customer experience and potentially increase cross-selling revenue. Working with the banks retail mobile banking team can help. Since most bank corporate offerings lag their retail offerings by about two years, lessons can be learned if the two groups work together.
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