Digital Corporate Banking Rank 2022: banking solutions for corporate digital banking efficiency
Market overview & Benchmark

Build a quality digital service for large companies with individual needs

The Digital Corporate Banking Rank 2022 serves as a crucial guide in understanding the complex ecosystem of corporate banking services tailored for large-scale enterprises. This in-depth study explores the integration of digital solutions in traditional banking frameworks, examining various service models across numerous banks. It highlights the persistent need for digital interfaces that support personalized corporate services while maintaining the invaluable human touch through customer management roles.

  • 130 user tasks studied
  • 8 financial products for corporate business
  • 573 evaluation criteria

Researh highlights

Evolving role of digital and personal banking services

The research underscores a significant insight: despite the advancement in digital banking technologies, the need for personal managerial roles remains intact. Banks are increasingly pressured to enhance their digital services to complement, rather than replace, traditional customer-manager interactions.

Critical need for customized digital experiences

The study identifies a critical demand for digital platforms to provide personalized user experiences that are transparent and reflective of the offline agreements and interactions, ensuring consistency and trust in digital transactions.

Integration with corporate operations

A notable trend is the growing necessity for banking platforms to seamlessly integrate into existing corporate systems through flexible APIs, enhancing operational efficiency and user experience without disrupting the established corporate workflows.

There is an urgent need to integrate digital banking platforms with personalized customer management services to improve operational efficiency and customer satisfaction.

Benefits of the Markswebb research: enhancing strategic decision-making

  • Business leaders: Gain strategic insights into integrating digital banking solutions that align with corporate structures and operational needs.
  • IT managers: Understand the technological integrations necessary for seamless functionality between banking platforms and corporate systems.
  • Financial advisors: Leverage detailed analytics to advise on optimizing financial operations through digital banking solutions.

In general, it should be noted that such a large-scale study is a key tool for developing business systems, saving time on erroneous development trajectories. The full report of such a study includes all seven product ratings and a ranking of banks with the most convenient digital services. It also includes a database of best practices. Through our research, we identified common implementations and found scenarios that have not yet been realized in the digital environment.

  • Database. The complete database is a ready-made metric of the efficiency of digital banking services for corporate clients, providing a clear reflection of the competitive situation in the market.
  • Forecasting. The research allows forecasting upcoming changes in digital services for large businesses.
  • Best practices. The database of best practices will help set a quality benchmark, gain new ideas for optimizing the user experience, and test hypotheses.

Based on interviews with representatives of large businesses and banking experts, we have also described the main user roles and their key tasks. These can be used as guidance to make clients’ work more convenient and efficient, not miss anything, and implement online banking that fully meets the users’ needs.

Methodology: data analytics with qualitative insights

Our research methodology combines data analytics with qualitative insights from industry experts to offer a balanced view of the digital corporate banking landscape. Through rigorous analysis and expert interviews, we uncover trends that shape the future of banking and financial services, ensuring our recommendations are both practical and forward-looking.

Any bank serving large businesses with a sufficient turnover, having digital services in place, and being willing to demonstrate their interface for expert evaluation and participate in in-depth interviews, could participate in the research.

We conducted interviews with representatives from banks as well as entrepreneurs. The interviews involved both frontline users of digital services for large businesses (operations specialists, accountants, foreign trade specialists, managers) and executives such as CFOs, treasurers, and financial controllers.

Key insight: the synergy of digital and human touch

One of the standout insights from the research is the indispensable value of combining advanced digital solutions with the human element of traditional banking. This synergy enhances customer trust and satisfaction, offering a holistic banking experience that digital alone cannot provide.

In 2020, during a similar study, experts predicted that all communication would shift online, and large businesses would address issues through dedicated chats, direct video calls from internet banking, and tailored conditions in the digital channel. However, this did not happen. The trend of digitization persisted but did not affect the demand for offline communication with client managers, currency controllers, payroll operators, and others.

Trends in the commercial banking market for large businesses

We identified the tasks of large businesses that can be addressed by mobile banks:

  1. Facilitating offline communication with managers.
  2. Online and offline services continue to develop in synergy. Mobile banks offer electronic document exchange, product opening in a cabinet based on agreed conditions, digital signing of agreements and statements, and automation of frequent queries.
  3. Ensuring transparency in the relationship with the bank. All individual agreements and conditions should be reflected in the digital service; otherwise, the client will have to constantly contact the bank’s manager to monitor compliance or ask clarifying questions.
  4. Protecting against missed deadlines. Users perceive the main screen of internet banking as a dashboard for critical notifications. They also want to receive timely information through additional channels, primarily email, about the risks of account blockages, payments awaiting signature, and rejected payments.
  5. Considering the needs of users with different roles. In a large company, there may be multiple roles with unique requirements for functions and interfaces. There may also be specific security requirements, such as limiting a signatory’s ability to expand the payroll register and view individual employee payment amounts. Separate personal accounts for each task class and flexible role models yield the best results.
  6. The service must be available omnichannel. Large businesses work with multiple banks, and users utilize different personal accounts. It is crucial for banks to be able to integrate their services into familiar corporate interfaces. The full report contains the best practices that can help achieve this.

Conclusion

The Digital Corporate Banking Rank 2022 research provides valuable insights into the evolving landscape of corporate banking. As digital technologies continue to infiltrate the banking sector, the integration of these tools with traditional banking practices is paramount. We invite industry leaders and financial institutions to collaborate with us, leveraging these insights to enhance their strategic operations and customer service offerings.

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