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(CFOZone) By Denise Bedell-Bleeker
For those banks that are investing in their corporate banking portals in the coming year, many are focused on going to the next level in providing that tailored, easy-to-use functionality that is the hallmark of Web 2.0. Corporates will reap the benefits of this through banking portal applications that offer interoperability, user-designed interfaces, and collaborative applications.
Not only will they be able to handle their account management through a secure, highly advanced portal – or even better through their own internal system that is directly linked to such a portal – but they will be able to see things how they want, get customizable reports, have all their data gathered in one place, and link to all of their bank’s services through one simple site.
New portal technology is focused on providing customers with an easy-to-use dashboard with a single click to all the functions they employ with access to those functions through any channel they might choose. They will be able to drill down into data quickly and easily.
Some banks are already providing clients with a corporate banking portal that truly takes advantage of all that Web 2.0 offers – customizability, interoperability, and intelligent functions. Bank of America Merrill Lynch, for example, has gone a long way towards that with CashPro Online, its banking portal that was launched last year. It provides a customizable interface with intelligent data fields that provide feedback as you type. And Deutsche Bank recently announcing a multi-year initiative with SAP to build out a flexible, scalable system based on service-oriented architecture (SOA).
A number of banks are putting resources into improving the portal experience for corporate customers. According to research by consultancy Aite Group, the goal is to provide a discernibly different solution to clients. The report noted: "While customers perceive the core features and functionalities of most online cash management as similar, the user interface and overall customer site experience can serve as a differentiator for banks."
Corporate users of banking portals will be able to utilize secure transactional widgets – mini-programs within a portal – to manage accounts from anywhere on any device they may choose – be it on a desktop at work, a laptop at home, or their mobile while travelling. They will have a unique experience specific to their job, industry and individual preferences. That is the promise of Web 2.0. |
