Make Digital Banking Easier in a Complex World

Joy Huesmann-Overmeer, Global Head Process Management & Optimisation, KYC Operations, Deutsche Bank

Joy Huesmann-Overmeer, Global Head Process Management & Optimisation, KYC Operations, Deutsche Bank

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 own processes, they also increasingly rely on their banks to deliver products and services digitally. 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 US$1trn in 2020 to US$4trn in 2025 (source: Be STF research & analysis) and 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 banking

Accelerated by the shift to remote working, clients increasingly require on[1]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 has become an essential means of 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 ability to benefit from future updates or new functionality seamlessly.

Shifting to global client-led solutions

This change represents a significant shift, from bank-led, functionally-driven, often country or regionally specific solutions to digital, global and client-led solutions. Treasurers, finance teams and the IT colleagues that support them need to be able to configure their set-up, preferences and processes themselves, so that in-person interactions with banks can be targeted towards more strategic discussions where the bank’s expertise and the quality of the personal relationships are most valuable.

"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"

This is a vision, responsibility and challenge that global banks such as Deutsche Bank is embracing as part of the bank’s commitment to making it easy for clients to do business with it. For international banks supporting clients in multiple jurisdictions around the world, delivering a consistent client experience using digital technologies is more difficult than for local banks delivering solutions in an individual market, given the diversity of cultural, regulatory and language requirements of global clients. The bank is building the principles of client control, excellent client experience, global consistency and long[1]term relationships into its Autobahn portal, its digital multi-channel gateway for corporate and Institutional clients to access products and services.

For example, through the Corporate Bank Portal powered by Autobahn, clients have the ability to initiate and track services and queries digitally, globally and instantly. Initially, the new portal supports cash management service requests, including status tracking and secure document sharing but this is being extended across the full range of Deutsche Bank services.

Our clients appreciate the global control and visibility over banking services that the portal offers, and the ability to simplify processes and controls and reduce issues and queries.

An integrated approach to global digital banking

This global approach to product design and delivery is essential for clients operating in different countries. A bank could choose to bring together local solutions through a single ‘front end’. However, this approach can result in fragmented processes, controls and user experience. Instead, a globally consistent approach enables clients to benefit from the same user experience, whilst taking into account specific local regulatory and payment needs in as many jurisdictions as possible.

The use of a single, integrated platform which supports simpler processes and end-to-end digitisation also plays an important role in supporting clients in their cyber and fraud risk management strategies. Firstly, manual, paper-based processes are prone to error, omission and fraud, which digital solutions with auditable processes, approvals and user permissions can help overcome. Secondly, the use of multiple, digital solutions for discrete tasks, or in specific countries or regions makes a company vulnerable to cybercriminals and fraudsters who can exploit inconsistencies in processes, user rights and training.

Digital banking is a key requirement for corporate and institutional clients around the world. Given the diversity and complexity of cultural and regulatory requirements in each country, the bespoke needs of each client, and the need to ensure the highest level of security over flows and data, only few banks are in a position to meet the needs of organisations operating internationally. Key to this is an absolute commitment to security, a client-centric culture and strategy, deep expertise across all footprint markets, and a global approach to innovation and client relationships.

Fraud

Healthcare

Agile

Risk Management

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