Strategies for Enhancing Corporate Client Experience: The Future of Attended Channels

by Susan Feinberg, January 9, 2017
Industry Trends
Global, North America

Abstract

Celent has released a new report titled Strategies for Enhancing Corporate Client Experience: The Future of Attended Channels. The report was written by Susan Feinberg, a Senior Analyst with Celent’s Banking practice.

Surveys of corporate clients indicate that banks have a lot more work to do to satisfy the demands of end users who want their corporate banking applications to be as easy to use and as convenient as the applications they use as consumers.

Attended channels remain the daily face of the bank to a large percentage of clients, regardless of how many other channels are being used. Simplifying, unifying client interactions across business silos, and delivering on the promise of convenience in a secure manner are the key strategies. The opportunities to differentiate include creating a customized and tailored user experience, enriching data, offering access to new payment services, integrating attended and unattended channels, and delivering a coherent strategy for supporting the emerging needs of small business clients for cash management services.

“In the current environment, attempting to implement a successful strategy for digital channels in the absence of an overall digital transformation strategy for corporate banking is short-sighted,” Feinberg commented.  

“The decisions being made today about attended digital channels — whether as a part of a larger digital transformation initiative, in enhancing the channel user experience, or establishing a corporate banking portal — will have a significant impact on the ability of corporate banks to attract and retain clients,” she added.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction: Investing in Attended Channels Is a Priority for Enhancing Client Experience

3

Common Strategies for Improving the Channel Experience

6

 

Integrated Portals: Masking the Silos

7

 

Simplifying the User Experience

8

 

Omnichannel Approach

8

 

Enhancing Authentication

8

 

Expanding Self-Service

9

Differentiation: Ease of Use and Convenience Do Matter

10

 

Owning the User Experience

11

 

Mobile and Tablet Functionality

11

 

Integration with File-Based Channels

11

 

Data Enrichment

12

 

Consolidation of Similar Functions into a Single Module

12

 

Support for Faster Payments

13

 

Flexibility with File Formats

13

 

Support for APIs to Third Party Solutions and Client Solutions

13

 

Delivering Corporate Functionality to Small Business Clients

13

Path Forward

16

Leveraging Celent’s Expertise

18

 

Support for Financial Institutions

18

 

Support for Vendors

18

Related Celent Research

19

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