8DECEMBER 2023OPINIONIN MYBy Joy Huesmann-Overmeer, Global Head Process Management & Optimisation for KYC Operations, Deutsche Bank [ETR: DBK] Digitisation is at the heart of efficient and client-centric business models, and the banking sector is no exception. As treasurers and finance teams have embraced digital in their processes, they increasingly rely on their banks to deliver digital products and services. This becomes particularly complex for corporations operating globally, who need their solutions to support different local practices, payment, and regulatory requirements in each country in which they operate.The shift to digital business models marks one of the most significant commercial trends of the past 20 years. For example, global sales conducted via B2B marketplaces are expected to quadruple from 1 trillion in 2020 to 4 trillion in 2025. All industries, whether healthcare, transport, energy, or manufacturing, are embracing a digital strategy. Banking, often associated with paper-based and manual processes and documents, is no exception, with digital platforms increasingly providing a model of client-centric, secure and agile banking solutions.Client demand for end-to-end digital bankingAccelerated by the shift to remote working, clients increasingly require on-demand and real-time access to information, instant electronic transaction execution, and self-service query resolution. As such, the convenience, consistency, and security of banks' digital services have become essential to ensuring an excellent client experience.Clients need a digital platform that supports payment, collection, and trade requirements in each country and complies with regulatory requirements, including reporting, access, and fraud controls. These activities do not take place in isolation, so clients want to integrate their banking activities with their internal systems and processes with end-to-end digitisation. This includes account opening, user and signatory management, and transaction workflow management. Clients also need to be able to adapt the way they use banking platforms to meet their specific organisational, process, and organisational needs, without loss of consistency or the ability to benefit from future updates or new functionality seamlessly.MAKE DIGITAL BANKING EASIER IN A COMPLEX WORLDJoy Huesmann-Overmeer
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