The shift to digital processes has already been a fruitful one for corporates, but the benefits are set to keep flowing, writes Thomas Dolenga, head of cash management product development at UniCredit, in TMI.
As technology companies move into the financial space, bringing innovative tools for corporate transactions, they are stoking the fires of competition – causing banks to ramp up their own innovation efforts in a bid to continue providing cutting-edge services to their clients.
The result for corporates is a feast of new products and tools for driving greater efficiency, flexibility and control over their finances. We have already seen substantial advances from products such as the BPO and virtual accounts, and more is to come – with big data a particularly promising avenue of innovation.
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