Barry Rhodes, iGTB’s Head of Payments, has written an expert piece for The Paypers where he explains how banks should look to understand the context behind a corporate payment to revolutionise their services and develop new revenue streams. Previously, banks have approached payments with a product-centric mindset that hindered meaningful client relationships. A better approach is to understand exactly what clients are trying to achieve with their actions – who are they paying? How are they connected? Why are they paying? Doing so not only leads to vastly improved customer services such as automated, optimised recommendations, but also greater internal efficiency and new revenue growth via cross-selling opportunities.
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