Corporate banking in the digital age

Polish companied headed for innovation

According to GUS 94% of companies in Poland use computers, with almost all the richest ones doing it*. 93% companies have access to the internet while more than half also provide their employees with mobile access**. Even recently a baking relationship required signing of paper agreements and filling-in forms, thus visiting branches. Today in Poland there are more than 4 million users of mobile banking, also corporate banking has gone mobile. – Managers of Polish companies use the latest banking solutions for private customers. Thus it is only natural that they expect that the tools they use in business will provide them with similar comfort and speed of service. Business customers just as private persons require their banks to give them access to finances anywhere and anytime. – Ricardo Campos, Director of the Electronic Banking Department in Bank Millennium said. The modern solutions dedicated to businesses include a mobile application, electronic applications for new products or online submitting of documents needed for loan approval.

Corporate banking in cyberspace

Although not all banks publish relevant data it may be assumed that more than 95% of standard orders in the corporate banking sector are placed by electronic means. Although most banks have already migrated their operational customer relations to internet banking, progress in electronic payments continues exponentially. New payment methods: e-invoices presented and paid in internet banking systems as well as internet payments are gaining popularity with Polish companies.

Apart from daily banking corporate customers would also like to make more advanced transactions online or mobile – if only those, which are available in trade finance. Already early next year customers of Bank Millennium will not have to wait with transactions on the Forex market until returning to office. The mobile Forex Trader module will permit an immediate reaction when FX rates change within minutes e.g. following the publication of important data. – Innovative banking is a Polish export product, winning awards and recognition worldwide. Proof of that are prestigious awards from Global Finance magazine i.a. for Bank Millennium for best-in-Poland e-banking for businesses as well as trade finance services, which are best in Central-Eastern Europe. – Ricardo Campos added.

Future challenges

Polish companies do realise that they cannot even dream of expansion without new technologies. They expect corporate banking solutions to be forward-looking, riding the trend wave and linking convenience with security even more. What solutions can they expect in the nearest future?

• Big Data and business advice – soon Relationship Managers will be responsible i.a. for providing customers with analytical information on the basis of data available in banking systems. An expert from the Bank will analyse impact of the data on the customer’s business and finances and then will help take actions to improve efficiency of business processes. The Customer-Relationship Manager relationship will become even more important, although probably existing now in cyberworld.
• Cloud computing – the advanced cloud will permit not only storage and processing of information but also combining various banking services. It will be a command centre, safe and data archive at the same time.
• Service packs – a single limit and one agreement will allow corporate customers to get loans, guarantees, leasing, factoring and treasury transactions. It will give them convenient access to diversified banking products and solutions.
• Internet platforms – financing new projects or current activity will be done directly via internet platforms. These platforms are a more or less complicated system of partners, customers, communities and independent advisors who create services and solutions available to all platform users.
• Change of function and robotised branches – broad launch of coworking branches where customers apart from banking business will also be able to work, meet with business partners or use conference rooms. Businessmen will be served there not only by specialised Relationship Managers but also by robots capable of quickly analysing business activity of a company.

*http://stat.gov.pl/obszary-tematyczne/nauka-i-technika-spoleczenstwo-informacyjne/spoleczenstwo-informacyjne/spoleczenstwo-informacyjne-w-polsce-w-2014-r-,2,4.html

**http://stat.gov.pl/obszary-tematyczne/nauka-i-technika-spoleczenstwo-informacyjne/spoleczenstwo-informacyjne/spoleczenstwo-informacyjne-w-polsce-wyniki-badan-statystycznych-z-lat-2010-2014,1,8.htm

GUS(**) l Według danych statystycznych GUS, w 2014 r.