Globys Research A strategic perspective on invoice-to-cash

Is this the year for technology advancements in commercial banking?

Topics: Information Reporting

Move over consumers, looks like the commercial customer base is finally getting some much needed attention on the banking innovation front.

A recent article on American Banker calls out a major shift in focus for 2016 – noting that this is the year that many large institutions expect technology advancements for their business clients to be one of the main areas of innovation.

From U.S. Bancorp’s launch of an aviation mobile payment app to Citigroup’s tablet apps to State Street’s integration of advanced machine learning technologies, there is one thing all of these institutions have in a common: a strategy that is driven by innovation and measured by customer satisfaction and loyalty.

It’s about listening to your customers to know what they need to move faster and smarter with less time and resources. It’s blurring the lines between consumer and enterprise digital solutions to deliver an intuitive and valuable experience, regardless of the complexities behind the scenes. It’s embracing the advancements in analytics to bring meaning to your customer data, in an automatic and digestible way.

Take a scan of what you have on the docket.

Will these initiatives deliver major benefit to your customers or are they just better or cheaper than the alternative?

Are you leveraging the latest and greatest in technology advancements to have a sustainable solution or updating existing solutions and processes to maintain status quo?

And most importantly, at the end of another year, will your customers deem you as innovative partner or will they be looking elsewhere to have their needs met?