What would it be to live in a world where service innovation, not cost, was the primary driver of revenue in corporate banking?

Corporate clients demand more joined-up finance, risk, payment and working capital services, on an increasingly global scale. And they expect access to these services more quickly, at any time and with greater transparency than ever before.

Corporate clients demand more joined-up finance, risk, payment and working capital services, on an increasingly global scale. And they expect access to these services more quickly, at any time and with greater transparency than ever before.

In the short-term, banks have pressing priorities. The need to drive costs down, while also deepening relationships with existing clients. Bank disintermediation from corporate transactions isn’t just buzz – some argue that it’s already here.

Whether you see this as a threat to traditional commercial banking or not, alternative finance providers, B2B market places and new technologies are a major disruptive force making banks re-evaluate how they interact and engage with their clients.

In this environment banks need to re-invent themselves – or rather, remember what they are really good at and find ways to enable their core strengths, adding value to corporate clients. Across sales, client and product onboarding, product delivery, and service management corporate clients too often complain of inconsistency and varying levels of quality and service across different regions and products.

To maintain relevance and prevent loss of market share we see banks focusing on providing more seamless experiences from channel to operations, and looking at how common workflows across products can energise their sales process with the ability to innovate, win on service and deepen client relationships.

While enhanced digital and mobile strategies are key to future sales and client interaction, many corporates are still dissatisfied with their online banking services too. In a recent EY report (Successful Corporate Banking) 63% of corporates said that innovation in services and product is key, yet only 40% rate their bank as performing well in this respect. Improving self service for clients can drive both efficiency and sales – the two sides of the revenue coin.

From a product lifecycle point of view, we see banks particularly focused on integrated and standardised credit lifecycle management to bring consistency across commercial lending origination, servicing and monitoring. In addition, enterprise pricing and billing platforms are on many people’s shopping lists.

To improve sales performance corporate banks need to consistently offer the right product, to the right customer, at the right price and at the right time. We are increasingly engaging with banks, discussing how we can help them to deliver the enterprise wide solutions that can drive a single view of the customer and enable both product and sales to structure more targeted product packages and segment client groups to align products to needs more accurately and proactively.

According to one analyst house, banks with higher sales technology enablement can improve high-end sales performance by more than 50% and reduce low performance by even greater margins.

At Sibos, Misys will be discussing these themes in more detail and demonstrating a new solution that can help banks to unleash their revenue potential across trade finance, lending, working capital finance, treasury, risk and investments.

The time is now. Banks see the opportunity to realise ROI from their heavy investments in regulatory change and data. Leveraging this, and creating an environment that allows service innovation for revenue growth will give banks the power to predict, build, price and deliver the future solutions for corporate clients.