What is Corporate Banking?
Corporate banking also known as commercial or institutional banking offers variety of financial services specific to institutions from unique credit products to treasury services, fixed asset requirement financing, employer, and commercial services.
Corporate banking is being disrupted by non-traditional tech-savvy competitors attacking the most profitable elements in the financial services value chain. Additionally, corporate banking customers are increasingly demanding the seamless digital experience that are now commonplace in retail banking.
What are the business benefits of Corporate Banking?
For banks, digital corporate banking helps in easier and faster customer acquisition, enhanced customer experience, faster development and rollout of new and innovative products/services, leading to increased customer loyalty.
Digitizing corporate banking processes also reduces cost of operations, focuses sales and operations on value-add services rather than administrative tasks, and reduces investments in fixed assets.
Corporate banking provides loans that enable businesses to grow and hire people, contributing to the expansion of the economy.