8December 2022OPINIONIN MYCorporate Banking is evolving. Long held notions of a highly complex, bespoke and manually dependent value chain are fast eroding. Institutions seeking to differentiate their go to market propositions are seeking ways in which to blend the best of high touch relationship management with digitally derived insights and client service collaboration platforms that focus on elevating client experience through relevance and speed of execution. The traditional Corporate Relationship manager typically meets their CFO client solely in the context of the entity that the CFO represents, however, that person or one of their family may have a personal banking relationship with the bank and corporate relationship managers often only have a superficial understanding of this personal relationship which might have a significant influence on how their corporate relationship grows. Similarly, their client might well be elected to the Board of another company that their colleague is covering and ceasing this opportunity to demonstrate support and advice in a time when their client is settling into their new role will prove invaluable to the long-term benefits of this relationship. Modernizing the Corporate Banking division along the following four pillars allows banks to truly uplift client experience and find new areas of value in the race to grow share of wallet.Transforming the coverage modelHelping Relationship Managers to a) simplify their operating environment and b) better understand their client environment; enable significant opportunities for raising productivity and improving client experience.Simplifying the frontline operating environmentRelationship Managers have to access a diverse set of systems, reports and news sources in order to adequately prepare for client meetings and present relevant financial solutions. By `hollowing out' key functionalities from systems and aggregating client data feeds into one place creating a single operating platform for your relationship managers, a CRM on steroids if you will, significantly simplifies the operating environment for your front line.MODERN CORPORATE BANKING ­ THE IMPERATIVE FOR DIGITALLY TRANSFORMING YOUR FRONT LINEBy Jameel Khan, Senior Executive Advisor, PwCJameel Khan
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