Digitisation in Corporate Banking - the next steps...
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Alex Kwiatkowski, Senior Banking Strategist, Misys presents the road to digitisation in corporate banking. Discover how you can digitise the enterprise.
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Digitisation in Corporate Banking - the next steps...
- 1. Digitisation in Corporate Banking – what are the next steps? Misys McKinsey & Company
- 2. Alex Kwiatkowski Senior Marketing Strategist Misys Tim Tyler Global Product Manager Misys © Misys 16 February, 2016 Dr. Stephanie Eckermann Principal McKinsey & Company Dr. Markus Röhrig Associate Principal McKinsey & Company
- 3. The road to corporate banking digitisation – trends and drivers Alex Kwiatkowski Senior Marketing Strategist, Banking and Digital Channels, Misys
- 4. The transformation of corporate banking © Misys 16 February, 2016 4
- 5. The transformative effects of digital 5© Misys 16 February, 2016 “The use of digital technologies to change a business model and provide new revenue and value-producing opportunities”
- 6. © Misys 2015 16 February, 2016 Sizing – and seizing – the opportunity in corporate banking 2016: $4.6bn 2017: $4.9bn 2018: $5.3bn CAGR: 7.2% Over 50 per cent of institutions in a poll of corporate bankers conducted in October 2014 indicated they intended to invest over €30m in digital over the next 3 years Source: Capgemini 2015: $4.3bn Source: IDC
- 7. Digitalise or disappear 7© Misys 16 February, 2016 65% Source: Aite Group of corporations feel banks don’t understand their needs 54% of institutions have less than 45% of their corporate banking products digitally enabled. CIOs and business leaders must raise digital corporate banking strategy creation from the lines of business (LOBs) and channels to the CIO level. Gartner Source: McKinsey – Realising the digital potential of corporate banking 20% Only 20% have a digital strategy in corporate banking
- 8. Satisfying objectives of corporate customers 8© Misys 16 February, 2016 Working Capital Raise Finance Manage Cash & Payments International Trade Protect The Business Asset finance Corporate lending Supplier finance Working capital finance Guarantees & indemnities Letters of credit Trade finance Trade loans Cash pooling Liquidity management Payments Collections Exchange rate risk Interest rate risk Counterparty risk
- 9. Overcoming the obstacles 9© Misys 16 February, 2016 Information islands, duplicate and manual processes for pricing, onboarding and delivering products and poor data aggregation means revenue leakage, high cost and loss of market share Struggle to scale the business or respond quickly to clients’ global demands due to legacy operations, fragmented channels and cost pressures Regulatory IT spend put pressure on margin and innovation. Banks are playing catch up, focusing on cost, boosting sales enablement and enhancing service Process efficiency for insight and agile service Cost and scale - barriers to business expansion Remaining relevant in a digitised world
- 10. Understanding the digital priorities of corporate banks 10© Misys 2014 16 February, 2016
- 11. 11© Misys 2015 16 February, 2016 Where have banks digitised to date?
- 12. Digitise the enterprise Tim Tyler Global Product Manager, Commercial Banking Channels, Misys
- 13. Digitisation and the business 13© Misys 2015 16 February, 2016 $ Retail and Digital Innovation Process industrialisation Growing mid-market MNCsRetail Bank client segment Business complexity Perceived importance of relationship value Transaction Commoditisation Margin Pressure
- 14. Globalisation Banks have built multiple portals but largely failed on digital strategy 14© Misys 2015 16 February, 2016 Inconsistent digital capabilities in product silos… …or focused on single sign-on, but not single platform LCs Standbys EU Asia Factoring AP Finance Non- bank FX Loan access DataBPM BPM Data BPM Data BPM Data
- 15. 15© Misys 2015 16 February, 2016 A threat to every part of the corporate banking business Spiralling costs and tighter margins Goodbye growth Sales inefficiency; lost revenue Losing business to the competition Rising cost of maintaining multiple portals – software and infrastructure stack. Rising cost of servicing transactions e.g. manual loan servicing or an FX dealer Inefficient operations to scale, service or follow clients to new markets Poor x-business integration - poor cross sell Reactive to client demand not proactive RM focus on admin not relationship sales Loss of share in lending and supply chain to digitised competitors Can’t analyse across the business to optimise profit Failure to capture small to mid- market opportunities Less strategic, transactional relationships.Rising cost of on-boarding Slow innovation cycle and product delivery for clients
- 16. © Misys 2015 16 February, 2016 Digitalisation can enable banks to capture the opportunity Agility to grow, service and connect Improve efficiency, cost, and UX Win with value added services STP as standard Meet the demands of the digitalised corporate Reduce errors, cost and time in manual processing. Right data, right place, right time Client mobility to deliver value add Ease onboarding for clients and counterparties Consistency of service Become the central hub for client and network connectivity Significantly boost transaction volumes and fee generation A 360 view of client and counterparties Ability to be more proactive and deliver timely, relationship based service Aggregated data and common enterprise processes Data insight into relationship value
- 17. 17© Misys 2014 16 February, 2016 The path to success? Easy to launch Difficult to maintain control of direction Back to earth with a bump
- 18. 18© Misys 2014 16 February, 2016 Your corporate customers’ perception
- 19. Globalisation Banks can digitise the entire corporate value chain to balance cost and growth Single, globally consistent, multi-channel platform for one view across products and services – for bank and customer Enterprise efficiency driven by a common platform for digitisation Client self service and frictionless transactions from sales to service © Misys 2015 16 February, 2016
- 20. Complete and connected - integrated from sales to settlement 20© Misys 2015 16 February, 2016 Bank integration Trade finance, cash management, loan servicing, treasury and core banking Collaboration > Email and SMS > Company/ counterparty/ Bank task management > Documentation > Audit trail Relationship services > Web marketing > User specific dashboards > Automated reports Security > 2FA/OTP > Single-sign on Network services > Multi-bank > SWIFT > ISO20022 > Payments and messaging Integration > SOA > JEE > Misys interfaces > 3rd party interfaces Value added services > Calendar > Alerts > Content management > Templates Multi-channel Browser Mobile ERPFile services Common Services Platform Localisation > Multi-language > Multi-entity branding > Software Development Kit Cross business workflow > Data aggregation > Onboarding > Authorisations > Approvals > Authentication Business applications
- 21. Digitisation is more than channel 21© Misys 2015 16 February, 2016 Message Integration API Integration ChannelsDigitisation Source: Gartner Standardisation using non- proprietary formats (e.g. ISO20022) and adoption of BPO Increasing interest in the Open Banking concept, demonstrated by Deutsche Bank’s Autobahn Customers are expecting the same experience across all banking services and all channels.
- 22. Digitisation is more than channel 22© Misys 2015 16 February, 2016 Message Integration API Integration ChannelsDigitisation Source: Gartner Standardisation using non- proprietary formats (e.g. ISO20022) and adoption of BPO Increasing interest in the Open Banking concept, demonstrated by Deutsche Bank’s Autobahn Customers are expecting the same experience across all banking services and all channels.
- 23. More than front to back 23© Misys 2015 16 February, 2016 720° Customers Partners App Providers Bank Future Technology
- 24. Digitise the enterprise 24© Misys 2015 16 February, 2016 • Accelerate your digital strategy • Maximise revenue and efficiency with end-to-end digitisation in global corporate banking • Deliver and exceed your corporate clients’ expectations Go digital with FusionBanking Corporate For more information contact: CorporateBanking@Misys.com FusionBanking Corporate is a componentised platform for step-by-step digitisation with unrivalled depth and multi-channel coverage for trade, supply chain, cash, treasury and lending
- 25. FusionBanking Corporate facts US bank doubles revenues with unified online channels for trade and FX Tier 1 Bank in Asia expanded across 14 countries and grew transaction banking revenues by FusionBanking Corporate Channels. helps clients to increase their win rate for large corporate RFPs 50% FusionBanking Corporate Channels helped customers increase volumes by 40% or more 100% 89%
- 26. © Misys 2015 16 February, 2016 Industry recognition CEB TowerGroup: Trade finance applications Misys: ‘Best-in-Class’ solution for corporate client service and transaction capabilities Global Banking Platform Deals, April 2015 Misys: Major Global Player: 101 banking deals Banking Technology Awards 2013 Misys: Best Payments Product or Service Global Finance: The Innovators Misys: Named an innovator in Transaction Services for deployment at Barclays Trade Finance Magazine Misys: Best software for trade and supply chain finance Trade and Forfaiting Review 2015 Misys: Best vendor for trade services Global Trade Review Misys: Leader in Trade. Best software provider.
- 27. misys.com Please consider the environment before printing this PowerPoint. @MisysFS Misys @ LinkedIn MisysVideoChannel Tim Tyler Global Product Manager, Commercial Channels tim.tyler@misys.com
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- According to a poll of attendees at McKinsey’s Corporate Banking Roundtable the focus of digitisation has shifted beyond cash management and that lending as the product anchor in corporate banking is now increasingly the focus [of digitisation].
- Back offices quite well automated Cash management back offices are well entrenched Trade and FX in the front office have been lagging, but are seen as high importance today Loan underwriting, renewals and servicing are seen as high importance Sales onboarding needs to be improved across the enterprise
- Mckinsey: The proliferation of online applications has led some banks to have more than 50 product solutions on the web Less than 20% of banks have begun wholesale digital transformation. 36% have a strategy but have not implemented
- Online Channels : Customers are increasingly demanding standardization of Web and mobile banking access. This may mean single-portal access to multiple bank platforms, or even access to a common portal with services from different banks (offered either as a cloud service or through a third party). Whatever approach is used, the point is for the bank to offer the same customer experience across all its banking services. Host-to-Host Channels : Customers are looking to banks for greater standardisation and more STP. Message Integration : Standardisation using non-proprietary formats (e.g. ISO20022) and adoption of BPO for integration of the financial supply chain with cash management. API Integration : There is an increasing interest in the Open Banking concept, demonstrated by Deutsche Bank’s Autobahn.
- Online Channels : Customers are increasingly demanding standardization of Web and mobile banking access. This may mean single-portal access to multiple bank platforms, or even access to a common portal with services from different banks (offered either as a cloud service or through a third party). Whatever approach is used, the point is for the bank to offer the same customer experience across all its banking services. Host-to-Host Channels : Customers are looking to banks for greater standardisation and more STP. Message Integration : Standardisation using non-proprietary formats (e.g. ISO20022) and adoption of BPO for integration of the financial supply chain with cash management. API Integration : There is an increasing interest in the Open Banking concept, demonstrated by Deutsche Bank’s Autobahn.
- Online Channels : Customers are increasingly demanding standardization of Web and mobile banking access. This may mean single-portal access to multiple bank platforms, or even access to a common portal with services from different banks (offered either as a cloud service or through a third party). Whatever approach is used, the point is for the bank to offer the same customer experience across all its banking services. Host-to-Host Channels : Customers are looking to banks for greater standardisation and more STP. Message Integration : Standardisation using non-proprietary formats (e.g. ISO20022) and adoption of BPO for integration of the financial supply chain with cash management. API Integration : There is an increasing interest in the Open Banking concept, demonstrated by Deutsche Bank’s Autobahn.
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